CIB Egypt announced the launch of a 3-year savings certificate with a high annual interest rate of 22%. The return is paid monthly, which is the highest return offered at the level of all banks.
The bank offers the new certificate with a high fixed return on the Egyptian pound under the name (Wealth), which can only be purchased with a minimum of EGP 3 M, and the amount must be a multiple of 1,000.
Moreover, the bank offers another package of certificates with different exchange cycles and a lower minimum purchase, in line with the capabilities of all customers.
Notably, the National Bank of Egypt and Egypt announced on Sunday, in a joint statement yesterday, the issuance of two savings certificates for 3 years, with a high return, in the first move after the Central Bank’s decision to raise the interest rate by 2% on Thursday.
The first certificate is in the two banks with a fixed return for 3 years at a rate of 19% annually with monthly payment, and the second; With a decreasing return for 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.