11:18 ص
Tuesday 31 May 2022
I wrote – Manal Al-Masry:
The National Bank of Egypt and Egypt took a surprising decision yesterday to stop issuing an 18% 3-year certificate, following it collected 750 billion pounds in savings.
The two banks decided to offer a savings certificate with an interest rate of 14% with a term of 3 years, the return of which is paid monthly, and it can be purchased from the branches starting today, Tuesday.
The cancellation of an 18% certificate and the introduction of an alternative certificate, led to a change in the map of saving certificates in banks.
Masrawy provides details of the highest interest rate offered on triple certificates in banks following stopping the highest certificate in Egypt.
National Bank of Egypt
Platinum Certificate: It offers the highest interest rate at the level of certificates at the bank at an interest rate of 14% annually, a fixed return, and the return is paid monthly in a regular manner until the expiry of its terms.
Egypt Bank
Summit Certificate: 14% interest is granted annually and the return is paid monthly for 3 years. A fixed return, which is the highest return offered at the level of certificates in the bank.
Commercial International Bank CIB
It offers a certificate at an interest rate of 13.5% annually for periods of 3 years, and the return is paid monthly with a fixed return. It also offers a certificate at an interest rate of 14% annually for periods of 4 years for a fixed return.
Al Baraka Bank
It offers a triple certificate at an interest rate of 14% annually, but with a variable return, and the return is paid monthly.
QNB Al Ahly Bank Egypt
Triple Certificate offers a fixed return with interest ranging from 13.5% p.a. for a monthly return, and 13.75% p.a. for a quarterly return.
HSBC Bank
It offers a certificate with an annual interest rate of 13.5%, and the return is paid monthly for a period of 3 years, with a fixed return.
Al Ahli Bank of Kuwait
He sells a 3-year certificate at an interest rate of 13.5%. The return is paid monthly, a fixed return.
Abu Dhabi Commercial Bank Egypt
It offers a triple certificate with a fixed return under the name “Amwali” with annual interest ranging between 11.5% on a periodicity of disbursing a monthly return, 11.6% on a periodicity of disbursing a quarterly return, and 11.75% on a periodicity of disbursing a semi-annual return
It offers another triple certificate with a fixed return under the name (Excellence) at an interest rate of 12% annually. The return is paid monthly, provided that the minimum purchase amount is not less than one million pounds.
The interest rate among the rest of the banks varies between 10% and 11.5% as of writing the report.
