The Arab African International Bank (AAIB) announced the launch of a new savings account with a return of up to 20% annually, making it the highest return for savings accounts in Egyptian banks.
The Bank added, on its official Facebook page, that the new savings account includes various exchange periodicals.
The Arab African Bank stated that the monthly return reaches 18%, the quarterly return reaches 18.5%, the quarterly return reaches 18.5%, the semi-annual return reaches 19%, and the annual return reaches 20%.
Last month, the Central Bank of Egypt decided to raise the interest rate by 3% on deposits and lending at the last meeting of the Monetary Policy Committee in 2022 to curb inflation (the pace of price increases), exceeding market expectations.
Banks of Egypt, the official portal of the Federation of Egyptian Banks, reviews the details of the new savings account from the Arab African Bank.
Advantages of the new savings account from the Arab African International Bank:
– Gradual return on the account balance so that the interest rates increase gradually with the increase in the account balance.
– Flexibility in choosing the periodicity of interest exchange between monthly, quarterly, semi-annual, and annual.
– Interest rates on new saving accounts:
1) A return of up to 18% with a monthly exchange period.
2) A return of up to 18.50% with a quarterly disbursement period.
3) A return of up to 19% with a semi-annual exchange period.
4) A return of up to 20% with a periodic exchange annually.
– Appropriate fees.
– Ease of immediate dealing with your savings through the debit card (Visa / MasterCard) for use locally and internationally
– You can issue credit cards (Visa or MasterCard) with an account guarantee.
– Possibility of obtaining a current debit account up to 95% of the total value of the account balance.
– Account statements are sent every three months, with the possibility of modifying the periodicity of sending them according to the customer’s desire.
– – The digital account statement is sent free of charge to customers subscribing to the electronic banking service.
– The ability to view your account details using direct banking services (internet and phone banking) for free.
– The minimum monthly fee is applied to the account whose balance is less than the minimum.