The decision of the National Bank for new clients

National Bank

Alaa Farooq, general manager of the retail bank and branches of the National Bank of Egypt, said that his bank had started issuing free savings accounts and current accounts for new clients of the 8 to April 24.

On the sidelines of the Egyptian Economic Forum, he added that bank employees attended rallies such as clubs, centers and homes in Egypt, as well as in public schools and universities, to promote the products of the bank and to attract new segments of the banking system.

He explained that the debit card will be issued free of charge, that prepaid cards will be issued free of charge and that these customers will also be able to subscribe free of charge to mobile phone services. All fees and commissions are reduced by 50%.

He added that the products were not limited to current accounts and savings, but extended to mobile payment products as well as prepaid cards.

Farouk said the bank had at least advanced the savings account to open the account 500 pounds without annual fees and without the benefit of life insurance customers.

He added that the account is open to youth aged 16 to 50 and that the minimum insurance policy is 5,000 pounds and up to 100,000 pounds, depending on the balance of the account, so that In the event of death, the client is compensated by the balance of the account for the month preceding the death.

He pointed out that the account aimed to attract a new segment of individuals not related to the banking system as well as small investors.