02:31 PM
Friday 03 March 2023
I wrote – Manal Al-Masry:
Bank customers are awaiting the issuance of a new high-yield bank certificate, Al-Ahly Bank and Egypt, for the second time in 2023, with expectations that this certificate will come with the commencement of the certificate’s maturities of 18% during the current month.
Bankers who spoke earlier to Masrawy expected that the two banks would issue a new certificate with the aim of reabsorbing liquidity and curbing inflation.
The countdown began to the first entitlement to the certificate, 18%, with a high return, for a year, which collected savings amounting to 750 billion pounds, starting from March 22, 2023 until the end of the last entitlement in early June, a year after its purchase.
The National Bank of Egypt and Bank of Egypt had put forward a proposal at the beginning of 2023 by issuing a certificate with a high interest rate of 22.5%, the return is paid monthly, and 25% annually, the return is paid at the end of the certificate’s maturity, starting from January 4 until the 31st of the same month, with a volume of savings that reached 500 billion pounds in 28 days.
In the following lines, Masrawy presents the interest rates on the highest certificates in 14 banks.
1- The triple certificate in the National Bank of Egypt:
The return is 17.25% paid annually, with an interest rate of 16.25% annually with a quarterly return payment period, and 16.5% annually with a semi-annual return payment period.
And it starts to be purchased from the first thousand pounds as a minimum.
2- The triple certificate in Banque Misr:
Interest amounting to 17.25% annually, 16% annually with a return paid monthly, and 16.25% annually with a quarterly payment period.
And it starts to be purchased from the first thousand pounds as a minimum
3- The triple certificate in the Bank of Cairo:
With a return of 17.25% to be paid annually, it also allows issuance of the same certificate with interest of 16% annually with a monthly periodicity for the payment of the return, and a third issuance with an interest of 16.25% annually with a quarterly periodicity for the payment of the return.
And it starts to be purchased from the first 5 thousand pounds as a minimum.
4- Triple certificates in the Commercial International Bank:
– Certificate for 3 years (Premium): The interest rate is 17%, the return is paid monthly or 18%, the return is paid annually, provided that the minimum purchase is not less than one million pounds.
– Triple Certificate (Plus): The interest rate is 16.5%, the return is paid monthly, or 17.5%, the return is paid annually, provided that the minimum amount is not less than 200,000 pounds for purchase.
The triple certificate (Prime): The interest rate is 16% for the monthly return exchange period, and 17% for the annual return exchange period, provided that the minimum purchase starts from 10,000 pounds.
5- Triple Certificates in QNB Bank:
The interest rate ranges between 16% annually with a monthly return exchange period, 16.25% with a quarterly return exchange period, and 17.25% with an annual return exchange period.
6- The triple certificate in Al Baraka Bank:
At a variable return rate of not less than 17.25%, in accordance with the provisions of Islamic Sharia
It starts with a minimum purchase of the first thousand pounds and its multiples.
7- The triple certificate in Nasser Social Bank:
– It offers a certificate of repaying the favor for the elderly with a maturity of 3 years: the annual interest rate reaches 17.5% annually, and the return is disbursed annually.
– The savings certificate for a period of 3 years with an annual return available to all customers from the age of 16: the annual return ranges between 17.25% spent annually, 16.25% for the quarterly return exchange period, and 16% for the monthly exchange period.
The purchase of any certificate starts from the first thousand pounds.
8- Agricultural Bank Certificate:
The annual return rate ranges between 17.25% annually, 16% annually, paid monthly, and 16.25% annually paid quarterly.
And it starts to be purchased from the first thousand pounds as a minimum.
9- The triple certificate in the United Bank:
The interest ranges between 16.25% annually for the periodic exchange of the monthly return, 16.5% for the periodic exchange of the quarterly return, 17% for the periodic exchange of the annual return, and 18% annually with the exchange at the end of the period, i.e. one time disbursement with the expiry of its deadlines.
The minimum purchase starts from the first thousand pounds.
10- The triple certificate in HSBC Bank:
The annual interest rate reaches 16% annually, and the return is paid monthly.
11 – Certificate of the Arab International Bank:
The interest rate ranges between 15% annually, the return is paid monthly, and 15.25% annually, the return is paid quarterly.
And it starts to be purchased from the first 5 thousand pounds as a minimum, then multiples of one thousand pounds.
12- The triple certificate in the Egyptian Gulf Bank:
The triple certificate: the annual interest rate is 16%, the return is paid monthly, and the minimum issuance is one million pounds.
– It also provides a certificate with an interest rate of 15.5% annually, and the return is paid monthly, with a minimum of one thousand pounds for issuance.
13- The triple certificate in Emirates NBD Bank:
The interest rate is 17% annually, and the return is paid monthly, and the minimum purchase price starts from the first thousand pounds.
14- The triple certificate in the Arab Bank:
The interest rate is 18% annually, the return is paid daily, and the minimum issuance is 10,000 pounds.
15- The triple certificate in Ahli United Bank:
The return ranges between 17.25% paid monthly, 17.50% quarterly, 17.65% semi-annual, and a return of 18% annually.