The National Bank of Egypt started the process of reducing interest rates on savings certificates, in implementation of the decision of the Central Bank of Egypt. Released a while ago, the average interest rate on banking transactions was reduced by 0.5%.
“Sada Al-Balad” publishes the most prominent testimonies on which the decision has passed, including:
First: Local savings certificates, including platinum certificates with a value of one thousand pounds and its multiples for 3 years, so that the interest rate on them becomes 11.5%, after it was 12% for the monthly return, or 11.75%, compared to 12.25% for the quarterly return. In addition to the platinum certificates with variable return for a period of 3 years, at a value of 1000 pounds and its multiples, so that the interest rate on them becomes 9%, after it was 9.5% for the quarterly return.
Second: Investment certificates of classes A, B and C, including:
Class “A” certificates with a combined yield of 100 pounds and their multiples for 10 years, bringing the interest rate to 9.75%, compared to 10.25%.
Category “B” certificate for a period of one year with a value of 1000 pounds and its multiples so that its return is 9.75%, compared to 10.25% of the monthly return.
And category “B” certificates with a value of 500 pounds and its multiples for a period of two years, so that the interest return on them becomes 10%, compared to 10.5% for the quarterly return.
Class “B” certificate with a value of EGP 500 and its multiples for 3 years, with an interest rate of 9.5%, compared to 10% of the quarterly return.
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