08:00 pm
Wednesday 01 June 2022
I wrote – Manal Al-Masry:
The National Bank of Egypt decided to raise the interest rate between 1% to 1.5% on investment certificates category (B), which includes 3 certificates with terms of one year, two years, and 3 years, according to instructions to the branches today, Wednesday.
The National Bank’s decision to raise the interest rate on investment certificates (B) came after it and Banque Misr took a surprising decision last Monday to stop the certificate of 18% with a one-year period, and to raise the interest rate by 3% on the three-year certificate for a fixed return with a term of 3 years to reach 14% instead of 11%. Annually and the return is paid monthly.
Masrawy presents the interest rates on investment certificates (B) after raising the rate of return offered on them, starting today, Wednesday:
1- Investment certificate (b) for one year: the bank raised the interest rate by 1.5% to increase it from 6% annually to 7.5% annually, and the return is paid monthly.
2- Investment certificate (b) with two-year terms: interest is increased by 1.5% to increase from 6.5% to 8% annually, and the return is paid quarterly.
Investment Certificate (B) 3 years: Increasing the interest rate by 1% to rise from 9% annually to 10%, and the return is paid quarterly.
The National Bank offers two types of savings certificates, the first under the name Platinum, and it currently has terms of 3 years and 5 years, and the second under the name (investment) certificates that were owned by the National Investment Bank two years ago and include multiple categories (A, B, and C) with dates ranging from one year to the next. 2 years, 3 years, 5 years, 10 years and 20 years.