04:33 PM
Wednesday, February 22, 2023
I wrote – Manal Al-Masry:
Customers’ options were limited to investing their savings in savings certificates with a high interest rate in certificates with maturities of 3 years, after stopping the sale of certificates for one year in Al-Ahly, Egypt, and Cairo, or certificates for one and a half years in Commercial International, Arab African International, and QNB Al-Ahly.
Al-Ahly, Egypt and Cairo banks had decided to stop selling the high-yield certificate for a year, with a return of 22.5% for the periodic exchange of the return per month, and 25% at the end of maturity with the end of work on January 31, after collecting about 500 billion pounds within 28 days of its offering.
The Commercial International Bank, CIB, and Al-Ahly Bank qnb were attached to the decision of the three previous banks to suspend the high-yield certificate. They have a term of one and a half years, with a return of 20% annually, which is paid on a monthly basis, and 22.5% annually, which is spent at the end of maturity.
The Arab African International Bank also decided to stop the same certificate presented in the Commercial International Bank and QNB Al-Ahly 3 days ago, 21 days after it was put up for sale.
Savings certificates are among the preferred options for customers to invest their savings in banks with a safe and attractive return without risk, and always look for the highest price offered in banks before deciding to purchase them.
In the following lines, Masrawy provides details of interest rates offered on high-interest certificates at a fixed rate in the 5 most important banks:
National Bank of Egypt
The triple certificate: the interest rate varies according to the periodicity of the return disbursement, and ranges between 16%, the return is paid monthly, 16.25% quarterly, and 17.25% annually, and it starts to be purchased from the first thousand pounds and its multiples.
Egypt Bank
The triple certificate: The interest rate varies according to the periodicity of the return disbursement, ranging between 16%, the return is paid monthly, 16.25% quarterly, and 17.25% annually, and it starts to be purchased from the first thousand pounds and its multiples.
Cairo Bank
The triple certificate: The interest rate varies according to the periodicity of the return disbursement, ranging between 16%, the return is paid monthly, 16.25% quarterly, and 17.25% annually, and it starts to be purchased from the first 10 thousand pounds and its multiples.
Arab African International Bank
The triple certificate: the interest rate varies according to the periodicity of the return disbursement, and ranges between 16%, the return is paid monthly, 16.25% quarterly, and 17.25% annually, and it starts to be purchased from the first 5 thousand pounds and its multiples.
Commercial International Bank CIB
– Certificate for 3 years (Premium): The interest rate is 17%, the return is paid monthly, or 18%, the return is paid annually, provided that the minimum purchase is not less than one million pounds.
– Triple Certificate (Plus): The interest rate is 16.5%, the return is paid monthly, or 17.5%, the return is paid annually, provided that the minimum amount is not less than 200,000 pounds for purchase.
The triple certificate (Prime): The interest rate is 16% for the monthly return exchange period, and 17% for the annual return exchange period, provided that the minimum purchase starts from 10,000 pounds.