02:43 PM
Saturday 22 February 2020
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I wrote – Manal Al-Masry:
The officials of the Assets and Liabilities Committees “Alco” (the interest rate) will meet in the banks in the coming days to discuss the fate of the interest rate on all the different vessels after the Central Bank decided to fix the interest rate.
The central bank’s monetary policy committee decided yesterday to fix the rate of return on deposits and lending for one night for the second time in a row this year.
The central bank’s interest rate ranged from 12.25% on deposit and 13.25% on lending.
The central bank’s decision to install the interest rate contributes to the continuation of the bank customers who prefer to invest their money in the banking system by obtaining the same interest rates without temporary change.
The National Bank of Egypt and Egypt decided last month unexpectedly to cut interest 1% on savings certificates before the first meeting of the monetary policy committee in the current year, which prompted the National Investment Bank to reduce interest by 0.75% on a one-year investment certificate and also some banks used to cut interest on Their testimony is similar to the National Bank of Egypt and Egypt.
The Assets and Liabilities Committees “Alco” (the interest rate) in the banks will begin in the coming days to review the interest rates on all savings vessels after the Central’s decision, including the fixed-return certificates.
Masrawy offers interest rates on the highest interest savings certificates in the 12 largest banks in Egypt, before the interest committee meetings that will start tomorrow.
1- The National Investment Bank:
NBE branches on behalf of the National Investment Bank sell savings certificates with a fixed return, and they are:
A “B” investment certificate with a one-year deadline: Sells the certificate at a 13% interest rate and distributes the return to be paid monthly. The highest certificate provides a return on the level of the banking system.
“B” investment certificate with 3-year terms: the interest rate is 12%, and the return is distributed to be disbursed every 3 months.
2- National Bank of Egypt:
Platinum Certificate Monthly Return: The bank sells it at an interest rate of 12%. The yield is spent every month for a period of 3 years.
Platinum Certificate Quarterly Return: The bank sells it at an interest rate of 12.25%, and the deadline for the certificate is 3 years.
3- Banque Misr:
The certificate of the summit for the monthly return: The interest rate is 12%, and the interest is spent each month.
4- Credit Agricole Bank:
It offers a 3-year certificate: the interest rate ranges between 10.5% for the monthly return, 10.75% for the quarterly return, and 11% for the semi-annual return.
5- Housing and Development Bank:
It provides a 3-year construction certificate: the interest rate is 12%, and the monthly return is spent.
6- Egyptian Gulf Bank (EG Bank):
3-year savings certificate: the interest rate varies according to the periodicity of the return, ranging from 11% for the monthly return, 11.25% for the quarterly return, 11.5% for the semi-annual return, and 12% for the annual return.
7- The Egyptian Agricultural Bank:
Harvest Certificate for Monthly Return: The interest rate is 12%, and its term is 3 years.
8- The Corporate Banking Bank (SAIB):
It offers a 3-year certificate: the interest ranges between 11% for the monthly return, and 11.25% for the quarterly return.
9 – Arab African International Bank:
It offers a 3-year certificate: the interest ranges between 10.75% for the monthly return, 10.875% for the quarterly return, 10.625% for the semi-annual return, and 11% for the annual return.
10 – The National Bank of Kuwait:
3-year savings certificate: the interest ranges between 10.5% for the monthly return, and 10.75% for the quarterly return.
11- First Abu Dhabi Bank:
3-year savings certificate: the interest ranges between 10% for the monthly return, and 10.25% for the quarterly return.
12- Cairo Bank:
It provides a 3-year savings certificate: the interest rate ranges between 10.5% for the quarterly return, 10.6% for the semi-annual return, and 10.75% for the annual return.
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