The First Abu Dhabi Bank in Egypt announced that the interest rate has been increased by 3%, on the 3-year fixed-rate certificate, and Abu Dhabi Bank has published all the details related to the new interest rate increase on its official website, explaining that the annual interest rate after the increase is up to To 13.4%, the decision to raise the interest rate came in conjunction with the decision to fix the interest rate at the last meeting of the Central Bank on the previous Thursday.
First Abu Dhabi Bank announces interest rate hike
The First Abu Dhabi Bank in Egypt published on its official website, that the interest rate was raised by 3%, on the 3-year fixed-income certificate, and the bank explained that the interest rate reached 13.4% annually after the new increase, and Abu Dhabi Bank announced Raising the interest late compared to the rest of the competing banks, as the announcement of the increase came in conjunction with the Central Bank’s decision to fix the interest rate at its last meeting, on the previous Thursday, August 18, 2022.
According to the new interest rate increase, announced by First Abu Dhabi Bank Egypt, the annual interest rate ranges between 13% for the periodicity of the monthly return exchange, and between 13.2% for the periodicity of the exchange of the return annually, and between 13.3% for the periodicity of the exchange of the semi-annual return, while the percentage reached The return for the annual return periodicity is 13.35%, and the rate of return is disbursed for the return periodicity at the end of the period is 13.4%.
First Abu Dhabi Bank Egypt confirmed that the customer can be free to break the certificate and obtain the original, but it is required that 6 months pass from the date of its purchase, and the customer can obtain a loan in exchange for the certificate up to 95% of the value of the certificate.