With a return of 39%.. Know the highest interest on certificates in banks

The Monetary Policy Committee of the Central Bank of Egypt meets on May 18, 2023, to discuss the interest rate on deposits and lending.

The Central Bank of Egypt raised the rates of the one-night deposit and lending return and the price of the main operation of the central bank by 200 basis points during the last Monetary Policy Committee meeting 30-3-2023, It reached 18.25%, 19.25% and 18.75%, respectively, and the credit and discount rate was raised by 200 basis points to reach 18.75%.

Abu Dhabi Islamic Bank 

Abu Dhabi Islamic Bank offered Islamic sukuk in pounds, with an expected return of 17.25% and receiving 10% of the profits in advance.

A number of banks raised interest rates on deposits and lending after the Central Bank of Egypt decided to raise interest by 2%.

Industrial Development Bank

The Industrial Development Bank launched a new certificate under the name “Your choice with a cumulative return paid in advance”, with a cumulative return of 39%.

According to what the bank announced, the term of the certificate is 3 years and the return for the second day of purchase is obtained in one payment in advance.

The Industrial Development Bank set the minimum for purchasing the certificate at EGP 50,000 for the first time, and the amount can be increased by multiples of 5,000.

Regarding the terms of recovery, the customer can retrieve the certificate after 6 months from the date of linking it after applying recovery fines that amount to 7% during the first year, 6% during the second year, and 5% if the breakage occurred during the third year.

The customer can also obtain a loan against the guarantee of the certificate up to 50% of the value of the certificate.

National Gulf Bank

The National Gulf Bank announced the issuance of a new certificate, with a fixed rate of return during the first year of 23% annually, and the rate of return is variable after the passage of one year and is equal to the deposit rate announced by the Central Bank of Egypt for one night, effective from the day following the end of the first year.

Certificates of the National Bank of Egypt

The National Bank of Egypt and Banque Misr announced the issuance of two new certificates on Sunday 2-4-2023, with an interest of 19% fixed and 22% declining; Two certificates of 3 years.

New Ahli Bank certificates

For the second certificate, both the National Bank of Egypt and Banque Misr presented a diminishing certificate for a period of 3 years, at an annual rate of 22% for the first year, 18% for the second year, and 16% for the third year, and the return is paid monthly.

Banque Misr certificates

Banque Misr offered a certificate with a decreasing annual return starting at 22% in the first year, 18% in the second year, and 16% for the third year, the return of which is paid monthly.

• It is possible to borrow with the guarantee of these certificates from any of the branches of the two banks. 

• Credit cards of all kinds can be issued with the guarantee of these certificates.

• Start calculating the return from the business day following the day of purchase.

Certificates of the Egyptian Agricultural Bank

The Agricultural Bank of Egypt announced the issuance of a new certificate for a period of 3 years, with a return of 19%, paid monthly, and a return of 19.5% paid annually.

The new Al-Khair Certificate is available in the bank’s branches, and it is issued in denominations of 1000 Egyptian pounds and its multiples, and the certificate allows the possibility of borrowing against its guarantee.

Nasser Social Bank

Nasser Social Bank announced the launch of a new certificate under the name "Decent Life" with a competitive return for a period of 3 years, in coordination between the bank and the Decent Life Foundation.

The return on savings certificates with a 3-year term was raised to 19% annually, 17.75% is paid quarterly, and 17.5% is paid monthly.