2023-04-27 15:30:00
05:30 PM
Thursday, April 27, 2023
Issuing savings certificates with high interest
I wrote – Manal Al-Masry:
3 banks are competing to offer high-yield savings certificates for a period of 3 years, with the aim of attracting millionaire customers, thus enhancing the provision of banking services and products with this segment of the public.
3 banks, namely Commercial International, First Abu Dhabi, and Abu Dhabi Islamic Bank, began issuing high-yield certificates to millionaires after the Monetary Policy Committee directed to raise the interest rate by 10% over 5 times over a year, the last of which was 2% last March.
In the following lines, Masrawy provides details of the high-yield triple certificates in 3 banks:
– Commercial International Bank: It offers a triple savings certificate under the name (Premium) with an annual interest rate of 20%. The return is paid monthly, and the minimum purchase price starts from the first million pounds, then multiples of one thousand pounds.
– First Abu Dhabi Bank: It offers a 3-year savings certificate 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: It offers a 3-year certificate with an annual interest rate of 17.25%, to be spent annually, provided that the minimum amount is not less than one million pounds.
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