Learn about interest rates from the 3 year certificate in 11 banks … Masrawy

Learn the interest rate of 3 years certificate in 11 banks

4:27 p.m.

Friday, October 19, 2018

I wrote – Manal al-Masri:

Interest rates vary from bank to bank, depending on each bank's policy, the quality of the target clientele, the liquidity levels required by the bank, operating expenses and others.

The three-year savings certificates have increased customer demand because of the higher rate of return compared to other certificates of a duration of one, five or seven years.

Banks provide benefits to the sale of savings certificates to their customers, including allowing them to borrow a certificate to buy a car, a personal loan, durable goods, and so on.

All banks will have the necessary papers to purchase the certificate, including: a copy of the valid national identity card and the delivery of modern facilities within a maximum of three months to open a bank account. Savings in the bank to add the declaration of the certificate and proof of income in case of non registration of work on the national number in accordance with instructions Central Bank.

Masrawy monitors interest rates on fixed maturity savings certificates with a maturity of 3 years and a minimum purchase of the certificate in the 11 largest banks of the banking system in order of highest interest rate:

1 – National Investment Bank:

· The Bank offers an investment certificate (B) with a return of 15.25% and a maturity of three years. The product is paid every three months.

· The minimum purchase of the certificate starts at 500 LE and at multiples.

· The Bank also offers an investment certificate (B) with a return of 15.75%. This is the highest yield of the Egyptian banking system with a period of one year. The proceeds of the sale are paid monthly.

· The certificate is sold through branches of the National Bank of Egypt, because the National Bank of Investment has no branch.

2- The National Bank:

• The bank offers a three-year savings certificate under the name Platinum with an interest rate of 15.25%, the dividend being paid every three months or 15% every month.

· The minimum amount of the certificate is 1000 LE and its multiples.

3 – Bank Misr:

· The bank sells a savings certificate under the name "Summit" with periods of 3 years with a 15% interest.

· The minimum amount of the certificate is 1000 LE and its multiples.

4 – Bank of Alexandria:

· The Bank of Alexandria sells a certificate of savings at the rate of 14%.

· The purchase of the certificate starts from the first thousand books and multiples.

5- Bank SAIB:

· The bank sells an interest certificate at the rate of 14% per annum and the proceeds of the sale are paid monthly for three years.

· The minimum purchase of the certificate starts from the first 500 books and multiples.

6. National Bank of Kuwait:

· Sells a 13% interest certificate paid monthly or 13.25% paid quarterly.

· The minimum amount to buy the certificate is £ 5,000 and multiples.

7 – Cairo Bank:

• The Cairo Bank offers a "Primo" savings certificate, with a 12.5% ​​interest, the proceeds of which are paid monthly for three years.

· The minimum amount of the certificate is 1000 LE and its multiples.

8. African Arab International Bank:

• The Bank offers an "Emerald" certificate with interest ranging from 11.75% paid monthly, or 11.875% paid quarterly, or 12.125% paid every six years or 12.5% ​​paid annually.

· The minimum amount of the certificate is 1000 LE and its multiples.

9 – HSBC Bank:

· Provides an interest certificate at the annual rate of 12.5%, paid monthly for a period of three years.

· The minimum purchase of the certificate starts from 10,000 pounds and multiples.

10. International Commercial Bank:

· Provides a savings certificate for a period of 3 years. The interest rate varies by 10.5%. The dividend is paid monthly, 11% is spent within 3 months, or 11.25% is paid every six years or 11.5% is paid annually.

· The minimum amount to buy a certificate is 1000 LE and its multiples.

11 – Emirates NBD:

· Provides an 11% interest certificate, the products are paid monthly for three years.

· The minimum purchase of the certificate starts from £ 5,000 and multiples.