All you need to know about the maximum limit for cash withdrawal from (ATM)

Withdrawing money from automated teller machines (ATMs) or from Egyptian bank branches is one of the daily procedures that citizens exchange periodically, and some people may not know the maximum cash withdrawal limit for individuals and companies.

The maximum cash withdrawal limit for individuals and companies from bank branches, according to the decision of the Central Bank of Egypt, is 150,000 Egyptian pounds.

Maximum cash withdrawal

As for the daily maximum limit for ATMs, it is 20,000 Egyptian pounds, according to the text of the Central Bank’s decision

On June 22, 2023, the Central Bank of Egypt is expected to hold a meeting to discuss the new interest rates.

Monetary Policy Committee of the Central Bank of Egypt

It is noteworthy that the Monetary Policy Committee of the Central Bank of Egypt decided to fix the interest rate on deposits and lending for one night at its third meeting on May 18, 2023, which is 18.25% for deposits and 19.25% for lending.

According to the schedule of interest rates for the month of June 2023, from the National Bank of Egypt, on deposits with various periodic returns, the minimum is one thousand pounds, and it starts from one year to 7 years.

Return rates on National Bank deposits

The return rate on the one-year deposit and less than two years is 7.31% monthly, 7.32% quarterly, 7.36% semi-annually, 7.50% annually, and the same rate on the two-year deposit and less than 3 years.

As for the return rate on a 3-year deposit and less than 4 years, it will be 6.84% monthly, 6.85% quarterly, 6.88% semi-annually, 7.00% annually, and the same amount on a 4-year deposit and less than 5 years.

Deposits from 5 to 7 years

And for a deposit of 5 years and less than 6 years, 6 years and less than 7 years, and 7 years and more, the return rate is 6.60% monthly, 6.61% quarterly, 6.64% semi-annually, and 6.75% annually.

According to the return rates table for the month of June 2023, from the Housing and Development Bank on the gold certificate, the period is 3 years, and the minimum limit for linking the certificate is 1,000 pounds and multiples of 1,000 pounds.

The rate of return on the gold certificate

The currency of the gold certificate in the Housing and Development Bank is in the Egyptian pound, i.e. the local currency, and for individuals only, and the return rate is fixed during the certificate period, which is 13.50% per month, or 13.60% quarterly, or 13.75% semi-annually, or 13.80% annually.