Return in advance.. Know alternatives to savings certificates with a 25% return

The National Bank of Egypt and Banque Misr announced that the closing date for certificates with an annual return of 25% is approaching, specifically at the end of this month.

Mohamed El-Etreby, President of Banque Misr, said that the “Talaat Harb” certificate, with an annual return of 25%, has achieved its desired goal, and its offering will be stopped within days.

The National Bank of Egypt also announced that the proceeds of selling savings certificates with an annual return of 25% approached 200 billion pounds, and that the certificate will be suspended at the end of this month.

Alternatives to 25% Certificates

Many savings owners tend to search for the most appropriate alternatives, with the approaching date of stopping savings certificates with a 25% return.

Treasury bills have become a priority for many citizens, after their return yesterday achieved about 22% for a year, up from 21.5% last week, without deducting tax.

How to buy treasury bills and the benefits they provide to individuals:

Treasury bills are a government debt instrument used by the Ministry of Finance to borrow in order to bridge the budget deficit.

It is announced twice a week by the Central Bank to put the bills in a public auction, and the announcement is made through the bank’s website.

- Treasury bills are flexible and short-term, as their terms range from 3 months, 6 months, 9 months and a year as a maximum.

-The bills are the opposite of bank certificates, which cannot be broken before 6 months, and their terms often exceed a year.

- Banks provide the return of treasury bills and bonds immediately after completing the purchase process.

- The return is in advance, and in one payment, and there is no periodic exchange.

- Purchasing treasury bills requires the customer to open a bank account, through which the purchase can be completed.

- The minimum purchase of treasury bills should not be less than EGP 25,000 and its multiples.

- It is not accepted to apply for a purchase with a value less than 25,000.

- Purchasing treasury bills requires the customer to go to the bank branch by himself.

  The process cannot be done through electronic channels, as is the case with savings certificates.

- The client submits a written request to purchase the bills at the value he specifies, and it is preferable that this be during Sunday and Thursday.

The return on treasury bills is subject to a tax of 20% of the total.

- Sale is available at any time without being restricted to the passage of a certain period.

- The customer submits a request to the bank to sell the bills in his possession, and they are offered in the secondary market, with the prescribed amount deducted from the total according to the purchase period.