01:15 PM
Saturday 16 July 2022
I wrote – Manal Al-Masry:
Tomorrow, Sunday, on its first working day after the Eid al-Adha holiday, banks will continue to sell high-interest rate savings certificates in their branches throughout the Republic, whether for new or existing customers, as well as making it possible to purchase certificates through the Internet and mobile banking services.
HSBC Bank Egypt surprised its customers before the Eid al-Adha holiday by reducing the interest rate by 0.5% on a 3-year savings certificate for a fixed return, becoming the first private bank to reduce the return on it, to currently record 13% annually instead of 13.5% annually for the monthly return, after collecting the target outcome.
The Central Bank of Egypt will hold a meeting of the Monetary Policy Committee on August 18 to discuss the fate of interest on deposit and lending, in its fifth meeting during 2022.
The Monetary Policy Committee of the Central Bank of Egypt decided to fix interest rates during its last meeting in June, to settle at the level of 11.25% for deposits and 12.25% for lending.
The Central Bank’s decision to fix interest came after raising it 3% during two meetings, by 1% last March, which was the first time in five years, and 2% at once in its next meeting last May, in an attempt to curb inflation, and absorb the shock of the Federal Reserve’s move to raise interest rates on the dollar. and the negative consequences of the Russian-Ukrainian conflict.
Masrawy offers the interest rate on certificates with a maturity of 3 years for the high return in 19 banks, starting from tomorrow, Sunday, with the first working day of the banking system after the Eid holiday.
Nasser Social Bank: It sells a triple certificate at an interest rate of 15%, the return is paid annually, or 14.25% is paid on a quarterly basis, or 14% is paid monthly.
Triple Certificate (Give Back) for the elderly: at a return rate of 15.25%, the return is paid annually, or 14.5% is paid on a quarterly basis, or 14.25% is paid monthly.
The National Bank of Egypt: It offers the platinum certificate for a period of 3 years for a fixed return at an interest rate of 14% annually, and the return is paid monthly.
Banque Misr: It sells the summit certificate for a period of 3 years for a fixed return at an interest rate of 14% annually, and the return is paid monthly.
Al Baraka Bank Egypt: It issues a savings certificate with a variable return for 3 years at a return rate of 14% annually and is paid on a monthly basis.
Arab African International Bank: The triple certificate is offered at an interest rate ranging between 13.75% annually and the return is paid monthly, 14% is paid quarterly, 14.125% is paid semi-annually, and 14.25% is paid annually.
Commercial International Bank CIB: It issues a triple certificate at an interest rate of 13.5% annually, and the return is paid monthly with a fixed return, provided that the minimum purchase of the certificate is not less than 100,000 pounds.
And a 4-year certificate: an interest rate of 14% per annum is offered, provided that the minimum purchase of the certificate is not less than 100,000 pounds.
Banque du Caire: It sells Primo Extra certificate at an interest rate ranging between 13.25% per annum, monthly return, and 13.5% per annum, with a quarterly return.
QNB Al Ahli Bank: It offers a 3-year certificate at an interest rate ranging between 13.5% annually for the monthly interest disbursement period, and 13.75% annually for the quarterly interest disbursement period.
HSBC Bank: Sells a 3-year certificate at an interest rate of 13% per annum on a monthly basis to disburse the interest.
Housing and Development Bank: It sells a 3-year certificate at an interest rate ranging between 13.5% annually for the monthly return periodicity, and 13.75% annually for the quarterly return periodic.
And a Royal Certificate: This certificate is sold by the Construction Bank at an interest rate of 14.25%, to be paid annually, provided that the minimum purchase amount is not less than one million pounds.
Al Ahli Bank of Kuwait: It issues a 3-year certificate at an interest rate of 13.5% annually, on a monthly basis, to disburse the return.
And a triple certificate that starts from one million pounds: the interest rate is 14% and is paid monthly.
Export Development Bank of Egypt: It sells a triple savings certificate at an interest rate of 14% annually, to be paid annually.
SAIB Bank: It sells a triple certificate in the name of (Excellence) at an interest rate of 14% annually for the periodicity of disbursing the monthly return, provided that a minimum purchase of one million pounds is required.
And a triple certificate: at an interest rate of 13.5% annually for a periodic monthly return, provided that the amount is not less than 5 thousand pounds.
Abu Dhabi Commercial Bank Egypt: It sells the three-year (my money) certificate at an interest rate between 13.5% on a periodic monthly interest disbursement, 13.6% on a quarterly interest rate, and 13.75% on a semi-annual periodicity.
And a triple certificate called “Excellence”: the interest rate is 14% annually, and the return is paid monthly, provided that the minimum purchase amount is not less than 250 thousand pounds.
Mashreq Bank: Offers a triple certificate at an interest rate of 13.5% annually, and the return is paid monthly.
Egyptian Gulf Bank: It offers a triple (premium) certificate for a fixed return at an interest rate of 13.5% annually, and the return is paid monthly.
National Bank of Kuwait: It sells the triple certificate for a fixed return at an interest rate of 13.5% annually, and the return is paid monthly, provided that the purchase limits are not less than half a million pounds.
The Arab Bank: The triple certificate is issued for a fixed return at an interest rate of 13% annually, and the return is disbursed daily.
The Bank of Alexandria: It issues a triple savings certificate, the interest rate ranges from 12.5% annually, the return is paid monthly, and 12.75% is paid quarterly.