01:52 PM
Saturday 08 October 2022
I wrote – Manal Al-Masry:
The National Bank of Egypt announced the amendment of the fixed interest rates for the new gold certificate in US dollars issued by the bank for a period of 3 years, as well as the dollar certificates of the people of Egypt with terms of 5 years and 7 years, for new issues of certificates starting from October 9.
The bank said, in a statement today, Saturday, that these dollar certificates can be saved through all of the bank’s branches or through the Al-Ahly Net application to facilitate customers.
He added that these returns are applied to new issues of dollar certificates available to his clients or whose existing dollar certificates have expired, and they are automatically determined on the same type of issuance with the new interest in the event of the client’s request.
This interest on dollar certificates at the National Bank of Egypt is higher than the international interest rate on the dollar, which does not exceed 3.25%.
In the following lines, Masrawy presents the details of interest rates on dollar certificates in the National Bank of Egypt following raising them.
The new gold certificate for 3 years
Interest rate: ranges between 5.30% annually, 5.25% semi-annually, 5.20% quarterly and 5.15% monthly.
Minimum Purchase: From the first $500 or multiples thereof.
The people of Egypt dollar certificate for 5 years
Interest rate: ranges between 5.15% for the annual return, 5.10% annually for the semi-annual return periodicity, 5.05% annually for the quarterly return periodicity, and 5% annually for the monthly interest-disbursement periodic.
Minimum Purchase: Starts at $500 and multiples.
It is also possible to purchase the Egyptian dollar certificate for a period of 7 years
Minimum Purchase: Starting at $1000.
Interest rate: up to 5.05% per annum, 5% per annum with a semi-annual cycle, 4.95% per annum with a quarterly cycle, and 4.90% per annum with a monthly cycle.
