How to buy a 23.5% and 27% certificate from the National Bank and Banque Misr

The National Bank of Egypt and the National Bank of Egypt - the two arms of the Central Bank in implementing its monetary policy - allow their customers to purchase the two new certificates with a one-year maturity at two high interest rates of 23.5% for the annual return, disbursed monthly, and 27%, the return is disbursed at the end of their term through the Internet and mobile banking service, starting on January 5, 2024. 

The National Bank and the Bank of Egypt were in line with expectations and announced yesterday, Thursday, the offering of two new certificates with a one-year maturity for a fixed return on the Egyptian pound, starting on the first day of their sale to customers, which coincided with the start of the first deposit to entitle the previous certificate with a one-year maturity at two interest rates of 22.5% paid out monthly and 25% paid out. The end of the period in his clients’ accounts.

The first maturity of the 25% certificate begins from January 5, 2024 until February 1, 2025, with a total proceeds of about 500 billion pounds collected within 28 days in January 2023.

The two banks made it possible to sell the two new certificates electronically through mobile phones and internet banking to all their customers, whether those holding the 25% certificate or others, as well as to foreigners, as their offering coincided with the start of the bank holiday for 3 consecutive days on the official holiday, Friday and Saturday, and on Sunday on the occasion of Christmas, provided that the first work of the branches begins. Banks next Monday.

The two banks approve the client’s request to purchase one or both certificates - according to each client’s choice - but activation of the purchase requests takes place on the banks’ first business day after the holiday.

The two new certificates are sold from the first thousand pounds and its multiples without a maximum purchase limit, and they are allowed to be broken after 6 months of purchasing them, but after deducting part of the return that the customer obtained according to their terms.

Details of purchasing the two new certificates for a return of 23.5% and 27% from the National and Misr Banks via the Internet and mobile banking services.

- Access the main page of the application that contains the services available for use through the mobile phone or the bank’s website.

- Click on the login box, write the customer’s 8-digit code, then enter the password and click on login.

- Click on “Issue a certificate or deposit” and choose from it to issue a certificate with a return of 23.5% or 27% according to each client’s desire.

- Confirm the bank account from which you want to purchase the savings pot, then click on Continue.

- Complete information about the savings pool in which the customer has specified the investment appears in front of the customer, and he has the opportunity to press the confirm or cancel button.

- After clicking on Confirm Purchase, the certificate or deposit that he purchased will be issued.

- A message appears confirming the bank has executed the purchase and included the value of the savings pot among its products at the bank.

- Customers may encounter an error performing the operation and have to try again.

- The customer’s request to purchase the certificate will be activated on the first working day of both banks.