With a return of up to 65%.. Details of the top 6 savings certificates in banks before the end of 2023
Shrouq
Bank savings certificates represent the savings vehicles that individuals are most interested in, to invest their savings and achieve quick and guaranteed profits. This year witnessed the banks operating within the Egyptian banking sector offering a variety of savings certificates that suit all categories.
Top 6 savings certificates in banks
The top 6 savings certificates in banks operating within the Egyptian banking sector, before the end of the current year 2023.
1. Arab African Bank savings certificate
- The minimum amount for issuing a certificate: 5,000 Egyptian pounds and multiples of 1,000 Egyptian pounds, without a maximum.
- Return on the certificate: 65% disbursed at the end of the period.
- Duration of the certificate: 3 years.
- Possibility of borrowing up to 80% of the original certificate amount.
2. Your choice certificate from the Industrial Development Bank
- The minimum amount for issuing a certificate: 50 thousand Egyptian pounds for the first purchase, and it can be increased in multiples of 5 thousand Egyptian pounds without a maximum limit.
- Return on the certificate: A cumulative return paid in advance of 39.14% of the value of the certificate, which is paid the day after submitting the certificate application.
- Duration of the certificate: 3 years.
- Possibility of borrowing up to 50% of the original certificate amount.
3. Ibn Misr certificate from the Banque Misr
- Minimum certificate purchase amount: 1,000 Egyptian pounds, and multiples thereof.
- Duration of the certificate: 3 years.
- Periodicity of disbursing the return on the certificate: monthly.
- Return on the certificate: first year 22%, second year 18%, third year 16%.
4- Platinum savings certificate from the National Bank of Egypt
- Minimum certificate purchase amount: 1,000 Egyptian pounds and its multiples.
4. Duration of the certificate: 3 years.
- Periodicity of disbursing the return on the certificate: monthly.
- Return on the certificate: first year 22%, second year 18%, third year 16%.
5- Certificate of charity from the Agricultural Bank of Egypt
- Minimum certificate purchase amount: 1,000 Egyptian pounds and its multiples.
- Duration of the certificate: 3 years.
- Periodicity of disbursing the return on the certificate: monthly, annually.
- Return on the certificate: 19% per month.
6- A triple savings certificate with a fixed return from the Banque Misr
- Minimum amount to purchase a savings certificate: 10,000 Egyptian pounds, and multiples of 1,000 pounds.
- Duration of the certificate: 3 years.
- Periodicity of disbursing the return on the certificate: monthly.
- Return on the certificate: 10 thousand pounds 15%, 100 thousand pounds 16%, one million pounds 17%, 5 million pounds 18%.
The Central Bank’s decision to fix interest rates
The Monetary Policy Committee of the Central Bank of Egypt decided, in its last meeting on Thursday, December 21, 2023, to maintain the overnight deposit and lending interest rates, and the Central Bank’s main operation rate, at 19.25%, 20.25%, and 19.75%, respectively.
