2023-06-04 19:17:18
The National Bank of Egypt is pleased to announce the issuance of a new savings certificate in the American currency “dollar” with an interest rate of 10% on a quarterly basis. The National Bank of Egypt is the largest government bank in Egypt, and through this new certificate, it aims to meet the needs of customers interested in investing in the American currency in a profitable and safe way.
Duration of the new dollar certificate “Nile Certificate”
The term of the new dollar certificate was set at three years, and it bears the name “Nile Certificate”. The value invested in this certificate should be 1000 USD and its multiples. Interest is paid on the “Nil” certificate periodically, at a rate of 9.85% on a monthly basis and 10% on a quarterly basis.
Conditions and restrictions for the “Nile” dollar certificate
The National Bank of Egypt set a number of conditions for the “Nile” dollar certificate, which include the following:
- The value of the certificate cannot be redeemed before the lapse of 6 months from the working day following the day of purchase. After this period has passed, redemption is possible and the return will be recalculated according to the following redemption rates:
- For a period of more than 6 months and up to less than 2 years, the interest will be 7%.
- For a period from 2 years to less than 3 years, the interest will be 8%.
Who can buy the “Nile” dollar certificate?
The National Bank of Egypt announced that the following persons have the right to purchase the “Nile” dollar certificate:
- Egyptians living abroad.
- Aliens.
- Egyptians who have residency abroad and are in Egypt.
- Egyptians who have another nationality (dual nationality) and are in Egypt.
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