I wrote – Manal Al-Masry:
Short-term deposits are one of the most important savings products that all banks provide to clients, in order to deserve a return in the least time period ranging from a week to a year, with the possibility of withdrawing the principal of the deposit value at any moment before its deadlines expire.
All banks adjusted interest rates on short-term deposits after the recent central bank decisions, by an exceptional rate cut of 3% in mid-March, and then fixed interest twice in a row at the last two monetary policy meetings at the central bank.
The return on the deposit is due at the end of the period, which ranges from a week, a month, two months, and 3 months to a year, and some banks produce a deposit for a period of two years, and the interest varies between the terms of each deposit.
The bank allows the customer to cancel the deposit link and withdraw its value before the expiry of its deadlines without being bound by their deadlines, unlike the savings certificates that prohibit their breakage before 6 months of their purchase, and therefore the deposit is consistent with the type of customers who need liquidity continuously.
Masrawy offers all the details on the term deposit in 7 banks and the minimum purchase amount.
1- CIB Bank:
Deposit purchase starts from the first 5 thousand pounds to more than 50 million pounds.
From one week to less than a month: The interest ranges from 0.75% annually to 3% annually, depending on the value of the deposit.
From one month to less than two months: ranges from 2.5% annually to 7.25% depending on the value of the deposit.
3 months: ranges from 2.75% annually to 7.5% annually, depending on the value of the deposit.
6 months: ranges from 3% annually to 7.5% annually, depending on the value of the deposit.
Year deadlines: ranges from 3% annually to 8% annually, depending on the value of the deposit.
2- Arab African International Bank:
The minimum purchase amount of the deposit is 5 thousand pounds to more than 500 thousand pounds.
From one week to less than a month: The interest ranges from 2.12% annually to 2.5% annually, depending on the value of the deposit.
From one month to less than two months: ranges from 3.12% to 3.5% annually, depending on the value of the segment.
From two months to less than 3 months: ranges from 3.26% to 4% annually, depending on the value of the segment.
From 3 months to less than 6 months: ranges from 4.12% to 4.5% annually, depending on the value of the segment.
From 6 months to less than a year: ranges from 4.62% to 5% annually, depending on the value of the segment.
3- Credit Agricole Bank:
From one week to less than a month: The interest rate is 1% per annum, provided that the value of the deposit is not less than 100 thousand pounds.
From one month to less than two months: 3.5% annually, purchasing from the first thousand pounds begins.
From two months to less than 3 months: 4.5% annually starts buying from the first thousand pounds.
From 3 months to less than 6 months: 5% per annum starts buying from the first thousand pounds.
From 6 months to a year: 6% annually, starting from the first thousand pounds.
4- Al-Ahli Bank:
From one to two weeks: the interest rate is 2.25% per annum, and the minimum deposit link starts from 100,000 pounds.
From two weeks to less than a month: 2.75% annually, and the minimum deposit bond starts from 100,000 pounds.
From one month to less than two months: 4.5% annually, and the minimum limit for linking the deposit starts from one thousand pounds.
From two months to less than 3 months: 4.5% per annum, and the minimum deposit link starts from a thousand pounds.
From 3 months to less than 6 months: 4.75% per annum, and the minimum deposit link starts from a thousand pounds.
From 6 months to less than a year: 4% per annum, and the minimum deposit link starts from a thousand pounds.
5- Cairo Bank:
From one to two weeks: the interest rate is 2.75% annually, and the minimum deposit link starts from 50 thousand pounds.
From two weeks to less than a month: 3% annually, and the minimum deposit bond starts from 50 thousand pounds.
From one month to less than two months: 4.5% annually, and the minimum limit for linking the deposit starts from one thousand pounds.
From two months to less than 3 months: 4.5% per annum, and the minimum deposit link starts from a thousand pounds.
From 3 months to less than 6 months: 4.75% per annum, and the minimum deposit link starts from a thousand pounds.
From 6 months to less than a year: 4.75% annually, and the minimum deposit link starts from one thousand pounds.
6- Bank of Alexandria:
Deadlines: The interest rate is 1.5% annually, and the minimum deposit purchase amount is one thousand pounds.
From two weeks to less than a month: 1.75%, and the minimum purchase of a deposit is one thousand pounds.
From one month to less than two months: 3.5%, and the minimum deposit purchase amount is one thousand pounds.
From two months to less than 3 months: 4.5%, and the minimum purchase of a deposit is one thousand pounds.
From 3 months to less than 6 months: 4.75%, and the minimum purchase amount is 1,000 pounds.
From 6 months to a year: 5.25%, with a minimum deposit purchase of one thousand pounds.
7- EG Bank:
From one week to less than a month: the interest rate is 2.5% per annum, and the minimum deposit purchase is 25 thousand pounds.
From one month to less than two months: 3% annually, and the minimum purchase deposit is 500 pounds.
From two months to less than 3 months: 3.5% annually, and the minimum purchase fee is 500 pounds.
From 3 months to less than 6 months: 4% per annum, and the minimum purchase fee is 500 pounds.
From 6 months to less than 9 months: 4.5% per annum, and the minimum purchase fee is 500 pounds.
From 9 months to a year: 5% annually, and the minimum purchase amount of the deposit is one thousand pounds.
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