08:05 PM
Sunday 04 September 2022
I wrote – Manal Al-Masry:
Al-Ahly and Egypt banks continue to provide various saving certificates, which are the best sellers at the level of banks, with the approach of the Central Bank of Egypt to hold the sixth monetary policy committee meeting this year on September 22 to discuss the fate of raising interest rates on deposits and lending, which is the second meeting of its kind for the new central bank governor. Hassan Abdullah.
The Central Bank had fixed the interest in the last meeting of the Monetary Policy Committee on August 18, which was held on the first working day of the Acting Governor of the Central Bank, Hassan Abdullah, after President Abdel Fattah Al-Sisi announced the decision to appoint him for a year to succeed the former governor, Tariq Amer, who submitted his resignation a year ago. From the end of his second term.
Al-Ahly and Egypt banks offer many savings certificates with different terms, but in this report we focus on the highest-returning certificates, details of the return periodicity, and the terms of certificates ranging from one to three years, five years, seven years and 10 years, according to the client’s desire.
The two banks offer various benefits to certificate holders such as the right to break it and recover the original certificate provided that 6 months have passed since its purchase, and the issuance of a credit card for purchases with a guarantee of a certain percentage of the certificates, as well as the possibility of borrowing with its guarantee instead of the salary guarantee with the customer bearing the cost of paying a small percentage above interest. Certificates.
Masrawy provides details of the highest-priced certificates in Al-Ahly Bank and Egypt, with the upcoming meeting of the Monetary Policy Committee of the Central Bank on September 22nd.
Ahli Bank
Offers two types of certificates (Platinum, Investment and Egyptian Security)
Platinum Certifications:
The platinum certificate for a period of 3 years for a fixed return: the interest rate is 14% annually, and the return is paid monthly. Its purchase starts from the first thousand pounds.
– Platinum certificate for a period of 5 years for a fixed return: the interest rate is 12.25% annually and the return is paid monthly, its purchase starts from the first thousand pounds
The 3-year platinum certificate for the variable return: the interest rate is currently 11.5% and the return is paid monthly, (the return on this certificate moves according to the movements of interest rates at the Central Bank), its purchase starts from the first thousand pounds.
Egyptian security certificate:
An insurance policy is granted and an annual return at an interest rate of 13% annually, and the return is disbursed at the end of the period after paying the value of the installments and the purchase starts from 500 pounds, with a maximum of 2500 pounds.
investment certificates
Investment certificate (A) for 10 years: the interest rate is 9.5% annually and the return is paid cumulatively, that is, at the end of the certificate’s term, its purchase starts from the first thousand pounds.
One-year investment certificate: the interest rate is 7.5% annually and the return is paid monthly, and its purchase starts from the first thousand pounds.
Investment certificate (b) for two years for a fixed return: the interest rate is 8% annually, and the return is paid quarterly, and its purchase starts from the first thousand pounds.
Investment Certificate (B) for a period of 3 years: the interest rate is 10% annually, and the return is paid on a quarterly basis, starting from the first thousand pounds.
Egypt Bank
The summit certificate is for 3 years: the interest rate is 14% annually, and the return on it is paid on a monthly basis throughout its term, and its purchase starts from the first thousand pounds and its multiples without a maximum.
5-year certificate (fixed return): the interest rate is 10.5% annually, and the return is paid annually and starts to be purchased from the first thousand pounds without a maximum purchase limit.
7-year certificate (fixed return): the interest rate is 10.75% annually and the return is paid monthly, and its purchase starts from 750 pounds without a maximum purchase limit.
3-year variable-return certificate: The interest rate varies daily, linked to the recently approved Konya Index of the Central Bank, through which the interest is determined, and the minimum purchase starts from 500 pounds, without a maximum purchase limit.
The certificate is for a period of 3 years for variable return: the interest rate is currently 11.5% and the return is paid monthly, (the return on this certificate moves according to the movements of interest rates at the Central Bank) and its purchase starts from a thousand pounds.
Egyptian security certificate: an insurance policy and an annual return at an interest rate of 13% annually, and the return is disbursed at the end of the period after paying the value of the installments, and the purchase starts from 500 pounds, with a maximum of 2500 pounds.