Tuesday , August 9 2022

Learn about the top savings certificates in 10 banks from Egypt



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PM 02:52 PM

Saturday 04 May

Manal wrote:

All banks operating in Egypt compete to provide fixed rate savings certificates at high interest rates in order to attract new deposits from customers or keep their customers from transferring their deposits to other banks.

Some private banks were interested in 3 year savings certificates last month following the central bank's interest rate determination at the last two meetings of the Monetary Policy Committee.

The three-year savings certificates are at the forefront of higher interest rates than those offered on other 5-year or 10-year certificates by most banks.

Multiple benefits are given to banks over savings certificates, including allowing the customer to borrow up to 90% of the total value of the certificate, and also allowing the customer to cut the certificate before a period of six months ending with their purchase against deduction of certain fees prescribed by the bank.

In the following lines, Masrawy presents the interest on three year savings certificates in 10 banks in order of highest return.

National Bank of Egypt:

The National Bank of Egypt (NCB) sells a certificate owned by the National Investment Bank on behalf of the bank, which has the highest return on Egyptian banks at a rate of 15.75%. .

This certificate is the only one in the Bank with a public term.

The bank sells a 3 year savings certificate with interest ranging from 15% from the monthly dividend or 15.25% The dividend is paid quarterly and the certificate starts from the first thousands and multiples of the thousand.

2. Banque Misr:

The Egyptian Bank sells a savings certificate at a rate of 15% .The product is paid monthly with a maturity of 3 years.

3-SAIB Bank:

The bank sells a certificate with a maturity of 3 years with interest of 15%. The earnings are paid monthly and the purchase of the certificate starts at the end of the year. 500 LE first.

4-Banque du Caire:

The Bank offers a 3 year savings certificate with interest ranging from 13% to monthly or 13.25%. Profits are paid every 3 months.

The purchase of the certificate starts from the first thousand pounds and multiples.

5. QNB Bank:

The Bank sells a 3 year certificate with an interest rate ranging from 12.5% ​​to a monthly dividend of 12.6%, or 12.75% on a half year form.

The bank can buy the certificate of the first thousands of pounds and multiples.

6-Bank Alexandria:

The Bank offers a maturity of 3 years with interest ranging from 12.5% ​​to a monthly dividend of 12.75% The dividend is paid every 3 months.

Buying the certificate starts from the first thousand pounds and multiples.

7. HSBC:

The bank sells a certificate with a maturity of 3 years with interest of 12.5% ​​Earnings are paid monthly and the purchase of the certificate starts from the first thousand pounds and multiples of it.

8. Kuwait National Bank:

The Bank currently offers a 3 year maturity with interest of 12% per month or 12.5% ​​with a quarterly return.

The lower limit for the purchase of a three year fixed income certificate starts from the first 5,000 pounds and multiples.

9. International-African International: t

The Bank sells a 3-year maturity certificate with an interest rate of 11.75% The earnings are paid monthly or 11.87% are paid quarterly or 12.125% are paid. being paid annually or 12.5% ​​are paid annually.

Buying the certificate starts from the first thousand pounds and multiples.

International Commercial Bank (CIB): t

The bank sells a 3 year savings certificate at a rate of 10.5% Earnings are paid monthly or 11% paid every 3 months.

The purchase of the certificate starts from the first thousand pounds and multiples.

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