02:30 PM
Saturday 15 October 2022
I wrote – Manal Al-Masry:
Some banks started raising the interest rate on the three-year certificates recently, in a move aimed at attracting liquidity whose size varies from one bank to another.
Mashreq Bank Egypt raised the interest rate offered on the triple certificates last week to 15% annually instead of 14%, to top the list of banks that offer high interest on savings certificates, in conjunction with Nasser Social Bank.
Bankers are calling for the Central Bank to offer a savings certificate that ranges between 18% to 20% annually in order to provide a real return on customers’ savings after the high inflation rate during the month of September in the cities.
In the following lines, Masrawy presents the interest rate on the highest-returning certificates in 18 banks, after increasing it in some banks.
Mashreq Bank:
The Triple Certificate: An interest rate of 15% is paid annually, and the return is paid monthly for a period of 3 years, and the purchase of the certificate starts from the first thousand pounds.
Nasser Social Bank:
Triple Certificate: At a rate of return of 15%, the return is paid annually, or 14.25% is paid on a quarterly basis, or 14% annually 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.
National Bank of Egypt:
The platinum certificate is for a period of 3 years for a fixed return: at an interest rate of 14% annually, and the return is paid monthly.
Egypt Bank:
The Summit Certificate is for 3 years for a fixed return at an interest rate of 14% annually, and the return is paid on a monthly basis.
Al Baraka Bank Egypt:
A savings certificate with a variable return for 3 years: a variable return according to the results of the business, but not less than 14% annually with a monthly payment cycle.
Arab African International Bank:
Triple Certificate “Emerald”: At an interest rate ranging between 13.75% annually, the return is paid monthly, or 14% annually, paid quarterly, or 14.125% annually, disbursed semi-annually, or 14.25% annually.
Commercial International Bank CIB:
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.
4-year certificate: at an interest rate of 14% annually, provided that the minimum purchase of the certificate is not less than 100,000 pounds.
Arab Investment Bank:
The interest rate ranges between 14% annually, the return is paid monthly, or 14.05% annually is paid quarterly, or 14.10% is paid annually, and its purchase starts from the first 10 thousand pounds.
Cairo Bank:
Primo Extra Certificate: At an interest rate ranging between 13.25% annually, the return is paid monthly, and 13.5% annually, the return is paid on a quarterly basis.
QNB Al Ahli Bank:
3-year certificate: with interest ranging between 13.5% annually for the monthly return periodicity, and 13.75% annually for the quarterly return periodicity.
HSBC Bank:
3-year certificate: with an interest of 13% annually, with a monthly periodicity to pay the return.
Housing & Development Bank:
3-year certificate: with interest ranging between 13.5% annually for the monthly return periodic, and 13.75% annually for the quarterly return periodic.
Royal Certificate for 3 years: 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:
3-year certificate: with an interest of 13.5% annually, with a monthly periodicity to pay the return.
Triple Certificate (buying starts from one million pounds): The interest rate is 14% annually and is paid monthly.
SAIB Bank:
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.
Triple Certificate: At an interest rate of 13.5% annually for the monthly return periodicity, provided that the amount is not less than 5,000 pounds.
Abu Dhabi Commercial Bank Egypt:
(My Money) Triple Certificate: At an interest rate between 13.5% annually for the monthly interest-disbursement periodic, 13.6% annually for the quarterly interest-disbursement periodic, and 13.75% annually for the semi-annual interest-disbursement periodic.
Triple Certificate (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.
First Abu Dhabi Bank:
Triple Certificate: The interest rate ranges between 13% annually, the return is paid monthly, 13.20% annually, the return is paid on a quarterly basis, 13.30% annually, paid semi-annually, and 13.35% is paid annually.
Egyptian Gulf Bank:
(Premium) triple certificate for a fixed return: at an interest rate of 13.5% annually, and the return is paid monthly.
National bank of Kuwait:
Triple Certificate of Fixed Return: At an interest rate of 13.5% annually, the return is paid monthly, provided that the purchase limits are not less than half a million pounds.