2023-05-16 09:28:00
12:28 PM
Tuesday, May 16, 2023
I wrote – Manal Al-Masry:
Banks continue to offer high interest rates on 3-year fixed-return certificates to customers, amid anticipation of the central bank’s decision regarding the interest rate at the next meeting of the Monetary Policy Committee, tomorrow, Thursday.
The Monetary Policy Committee of the Central Bank will hold its third meeting to discuss the fate of the interest rate during the current year, the day after tomorrow, amid expectations that mostly favor the stabilization decision, while not excluding the option of raising, even by a slight percentage, after the decline in the inflation rate during the month of April.
The committee’s decision regarding the central bank’s interest rate affects the interest rates offered on certificates in banks, in the same direction as the central bank’s movement and often at approximately the same rate, but each bank takes within the factors determining its decision to determine the interest rate on the certificate the volume of its liquidity and the movements of its competing banks.
Savings certificates in banks are widely accepted by customers as they are the most safe havens for savings and have high interest and regular periodic returns, especially for customers who do not have experience in investing in other fields such as gold and real estate.
In the following lines, Masrawy provides details of the high interest rate on triple certificates before the Central Bank’s meeting next Thursday.
Commercial International Bank
The triple certificate of fixed return (Premium): The interest rate is 18% annually, and the return is paid monthly.
The minimum purchase is 2 million pounds, then multiples of 1,000 pounds.
The triple certificate (Plus) for fixed return: the interest rate is 17.5%, and the return is paid monthly.
The minimum purchase is 500,000 pounds and multiples of 1,000 pounds.
– Triple Certificate (Prime): The interest rate is 17%, and the return is paid monthly.
The minimum purchase price for the certificate is 50,000 pounds and multiples of 1,000 pounds.
– Wealth certificate for 3 years: an annual interest rate of 19%, the return is paid monthly.
The minimum purchase is 5 million pounds, then multiples of 1,000 pounds.
National Bank of Egypt
– The (Platinum) certificate for fixed return for a period of 3 years: at an annual interest rate of 19%, paid monthly, and the minimum purchase price starts from the first thousand pounds and its multiples.
– The (Platinum) certificate for a period of 3 years with a gradual (decreasing) return: the annual interest rate ranges from 22% in the first year, 18% for the second year, and 16% for the third year, and the return is paid monthly, and the minimum purchase price starts from the first thousand pounds and its multiples.
Egypt Bank
– Al-Qimma certificate for a period of 3 years (for fixed return): at an annual interest rate of 19%, paid monthly, and the minimum purchase price starts from the first thousand pounds and its multiples.
– Certificate (Ibn Masr 2) for 3 years with a gradual (decreasing) return: the annual interest rate on it ranges from 22% in the first year, 18% for the second year, and 16% for the third year, and the return is paid monthly, and the minimum purchase price starts from the first thousand pounds and its complications.
Cairo Bank
– (Primo Gold) certificate for 3 years: an annual interest rate of 19%, the return is paid monthly.
The minimum purchase price starts from the first 10,000 pounds, then multiples of 1,000 pounds.
– (Primo Gold) certificate for a period of 3 years with a gradual (decreasing) return: the annual interest rate ranges from 22% in the first year, 18% for the second year, and 16% for the third year, and the return is paid monthly.
The minimum purchase price starts from the first 10,000 pounds, then multiples of 1,000 pounds.
QNB ALAHLI Bank
– Certificate (early): at an interest rate of 19%, the return is paid monthly, 19.10% is paid quarterly, and 19.25% is paid annually, and it starts to be purchased from the first 10 thousand pounds, and multiples of one thousand pounds.
Arab African International Bank
– Triple certificate: at an annual interest rate of 17.25%, the return is paid monthly, 17.5% is paid quarterly, and 18.75% is paid annually, and the minimum purchase starts from the first 5 thousand pounds as a minimum.
Egyptian Agricultural Bank
– The triple “Al-Khair” certificate: at an annual interest rate of 19%, the return is paid monthly, and 19.5% is paid semi-annually, and its purchase starts from the first thousand pounds.
HSBC Bank Egypt
– Triple certificate: at an annual interest rate of 17.25%, the return is paid monthly, and the sale of the certificate starts from the first 10,000 pounds, and multiples of one thousand pounds.
Emirates NBD Bank Egypt
– A triple savings certificate: at an annual interest rate of 18%, the return is paid monthly, 18.25%, the return is paid quarterly, and 18.5% on a periodic annual return, and the minimum purchase amount is 350,000 pounds, then multiples of 1,000 pounds.
Egyptian Gulf Bank (EGBank)
– A certificate with a 3-year term for a fixed return: at an annual interest rate of 19%, and the return is paid monthly.
Suez Canal Bank
– Triple certificate: at an annual interest rate of 19%, the return is paid monthly, and it is allowed to sell it from the first thousand pounds.
Med Bank
– Triple certificate: at an annual interest rate of 18%, the return of which is paid in advance monthly, and the minimum purchase is from 5 thousand pounds, then multiples of one thousand pounds.
First Abu Dhabi Bank Egypt
– 3-year term certificate: at an annual interest rate of 17%, with a monthly return, provided that the minimum purchase amount is not less than EGP 10,000.
– A 3-year savings certificate: at an annual interest rate of 17.5%, with a monthly return, provided that the minimum purchase amount is not less than 500,000 pounds.
– A savings certificate for 3 years: at an annual interest rate of 18%, with a monthly return, provided that the minimum purchase amount is not less than 2.5 million pounds.
Abu Dhabi Islamic Bank
– Triple certificate (compliant with the provisions of Islamic law): at an annual return rate of 16% for the periodicity of the monthly return exchange, 16.25% is paid every 3 months, and 55% at the end of the certificate period, and the minimum purchase is one thousand pounds.
– 3-year certificate: at an annual interest rate of 17.25%, paid annually, provided that the minimum amount is not less than one million pounds.
Nasser Social Bank
(The only bank not subject to the Central Bank and affiliated to the Ministry of Social Solidarity by virtue of the law of its establishment)
– Triple accumulative certificate (for individuals): The interest rate is 22%. The return is paid at the end of the period.
– One and a half year certificate (individuals): The interest rate is 20%, the return is paid upon maturity.
– The triple certificate (return of favor) for the elderly from 60 years and above: the interest rate is 17.75%, the return is paid monthly, and 19.25% is spent annually, and the purchase starts from the first thousand pounds.
– Certificate (Return of Favor) for one year: at an annual interest rate of 11.75% for the monthly return, and 12.95% is spent at the end of the certificate’s maturity.
– The triple certificate for “individuals”: the annual interest rate is 17.5%, the return is paid monthly, 17.75% is paid quarterly, and 19% is paid annually, and it starts to be purchased from the first thousand pounds.
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