Eliminates inflation.. The deadline for savings certificates with a 25% return
banks witnessed a state of dollar dispensation in a very large way, and clients sold dollars to buy the 25% certificates.
Shrouq
Mohamed El-Etreby, Chairman of the Board of Directors of Banque Misr, announced that the proceeds of the new savings certificates, with interest rates of 22.5% and 25%, to today, amounted to 39 billion pounds in Banque Misr.
During the past two days, banks witnessed a state of dollar dispensation in a very large way, and clients sold dollars to buy the 25% certificates.
The importance of savings certificates with a return of 25%
The new certificates contributed to absorbing the rise in prices and inflation in the markets, thus resolving the dollar crisis.
Al-Etrebi expects an increase in the volume of dollar concessions in the coming days, especially since the extension of issuing certificates will not exceed 30 days.
work with the new interest rates
Banque Misr started operating at the new interest rates that were approved on some of its banking products, as of January 4, coinciding with the issuance of the certificates of 22.5% and 25%, recording a return rate of 3.875% on the deposit from 1,000 pounds to one million pounds, for a period of 7 days to Two weeks maximum.
The new interest rate schedule at Banque Misr
According to the new interest rate schedule at Banque Misr, which entered into force as of Wednesday, January 4, 2023, deposit holders who deposit their savings for a period ranging between two weeks, with total amounts ranging from one million to two million pounds, will get a return of 4.00%, and 4.125% for the same period. The period for amounts from 2 to 5 million pounds, and 4.25% for amounts from 5 to 10 million pounds.
Deposit rates are in Egyptian pounds
As for deposits for a period of 15 days and less than a month, the return rate is 4.375% on deposits from 1000 pounds to 1 million pounds, 4.50% for more than 1 million to 2 million pounds, and 4.625% for the same period for amounts from 2 to 5 million pounds and 4.75%. % from 5 to 10 million pounds.
It is noteworthy that the Monetary Policy Committee of the Central Bank raised interest rates by 300 basis points at its last meeting last December.
The National Bank of Egypt and Egypt allow the purchase of new certificates with a high return, and the subscription starts from 1000 pounds, its multiples, and its terms for a period of one year only, and the annual return is 25% interest, and the monthly return reaches 22.5%.
