After the banks were exposed to a crisis in providing the dollar, a large number of them decided to raise the interest on savings certificates and other accounts, which makes there is a demand from citizens to buy them and benefit from their return, which contributes to stopping the demand for the black market for dollars, and hence The Egyptian pound recovered once more, so the National Bank of Egypt announced that it would raise the interest rate at the expense of the youth savings it provides.
Raising interest rates on my future and pension accounts
The bank said that the account is available under the name (the future), and that this decision was implemented at the beginning of 2023, as well as raising the interest rate on the pension account. %.
This decision came in conjunction with the decision to raise the interest rate by 2%, previously announced, on the regular savings account, in addition to that, the bank has introduced a group of new segments, provided that it is offered to its customers with a distinct interest, according to what was published by the websites earlier in the hours of the day.
How to open a youth account
As for the categories for which it is available to open a youth account in the National Bank, it is expected that it will start from the first age of 16 years, and all ages can open it up to 50 years, and according to the value of the segment and the periodicity of the return exchange, its owner will obtain a gradual return, as for the pension account, only a segment can be opened, which is the elderly Only on a monthly basis.
My youth and pension account details
As for the details of the savings account or the future account, they are as follows:
- It opens with an amount of more than 3,000 pounds to 100,000 pounds, with an annual exchange period between 5.75% for the monthly return exchange period.
- It can be opened with a value starting from 100,000 pounds to 500,000 pounds, provided that the return exchange period ranges between 6% annually.
- It can be opened with a value of 500,000 pounds or more: there is no interest; To motivate young people to deal with banks.
The minimum amount to open an account is 500 pounds. - The customer’s age should not exceed 50 years.
- The account is opened without the need for expenses throughout the year.
Pension savings account details
- It is available with an interest rate of up to 9% annually on one tranche, and following increasing it, the return is paid monthly at a rate of 5.25% annually, an increase of 3.75%.
- In order to be opened, a minimum balance must be available, starting from one thousand pounds or more
- The customer age must be 60 years or over.
