02:02 PM
Saturday 27 August 2022
I wrote – Manal Al-Masry:
The National Bank of Egypt is unique in selling a short-term savings certificate for a period of one year under the name (Investment B) certificate with a fixed interest to meet the demands of some customers who do not want to link their savings in 3-year receptacles due to their necessary need for funds.
The National Bank is the only bank that offers a certificate with a one-year term at the level of banks who tend to offer certificates starting from 3 years and above.
In the following lines, Masrawy presents the details of purchasing the “Investment B” certificate with general terms from the National Bank of Egypt.
Interest rate: 7.5% annually, and the return is paid monthly.
Minimum purchase of the certificate: a minimum of one thousand pounds and its multiples.
Breaking the certificate: It is allowed to break it following 6 months of purchasing it.
Borrowing with its guarantee: It is allowed to borrow up to 90% of its total value.
