Some private banks tended to cut interest on savings certificates, with the central bank moving to fix interest for the fourth time in a row this month.
On the other hand, Al-Ahly and Banque Misr continued to offer the high return certificate with an interest rate of 15%.
Two weeks ago, the Monetary Policy Committee decided to set interest rates at 9.25% on deposits and 10.25% on loans for the fourth time in a row.
Interest rates for savings certificates
Fixed-return savings certificates are popular with customers due to their higher return compared to other funds, such as short-term deposits or savings accounts.
Banks prevent the client from breaking the certificate for up to 6 months after purchasing it, and the customer can also take out a loan with the guarantee of the certificate.
1 – National Bank of Egypt:
The platinum certificate has general terms: the interest rate is 15% annually, which is the highest in Egypt, and the return is paid monthly, and the lowest amount to bind the certificate is one thousand pounds.
2 – Banque Misr:
Ibn Misr certificate has general terms: the interest rate is 15% annually, the return is paid monthly, and the minimum limit for linking the certificate starts from the first thousand pounds.
3 – National Investment Bank:
“B” investment certificate with two-year terms: the interest rate is 14% annually, the return is paid every 3 months, and the linking of the certificate starts from the first thousand pounds.
Investment certificate “B” has general terms: the interest rate is 13% annually, the return is paid monthly, and the certificate begins at the first thousand pounds.
All investment certificates are offered through the branches of the National Bank of Egypt, because the National Investment Bank does not own any branches.
4- Commercial International Bank:
A 3-year savings certificate: The interest rate ranges between 11% for the monthly return, 11.25% for the quarterly return, 11.5% for the annual for the semi-annual return, and 12% for the quarterly return, and the purchase of the certificate starts from the first thousand pounds.
5 – Banque du Caire:
The Primo Certificate has a term of 3 years: the interest ranges between 12% annually, the return is paid monthly, 12.10% annually, the quarterly return is paid, and 12.25% the return is paid every year, and the purchase of the certificate starts from the first thousand pounds.
6- Arab African International Bank:
Emerald certificate with terms of 3 years: the interest rate ranges between 12% annually for the monthly return, 12.25% annually for the quarterly return, 12.375% annually for the annual return for the semi-annual return, and 12.5% annually for the annual return, and the purchase of the certificate starts from 5 Thousands of pounds minimum.
7 – HSBC Bank:
A 3-year savings certificate: The interest rate is 12% annually, the return is paid monthly, and the purchase of the certificate starts from the first thousand pounds as a minimum.
8- Housing and Development Bank:
A 3-year reconstruction certificate: the interest rate is 11.25% annually, the return is paid monthly, 11.5% annually is paid every quarter, and 12% annually, the return is paid every half year months, and the minimum purchase price for the certificate starts from the first thousand pounds.
9- Agricultural Bank:
Harvest certificate has a term of 3 years: interest is recorded at 12% annually, the return is paid quarterly, and the purchase of the certificate starts from the first thousand pounds.
10- BLOM BANK:
The interest ranges between 11.5% for the monthly return, and 11.75% for the semi-annual return, and the purchase of the certificate starts from the first thousand pounds.
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