Banque Misr and the National Bank of Egypt have raised the interest rate on a new triple savings certificate from 18.5 percent to 19.5 percent.
Triple Savings Certificate from the National Bank of Egypt (NBE)
Back in August the NBE announced a triple savings certificate with a variable return, after raising interest on it by one percent, bringing the return value to 19.5 percent instead of 18.5 percent.
The return is disbursed quarterly on this certificate while the minimum amount to purchase it is LE1,000 and its multiples.
The duration of the certificate is three years.
The bank allows the issuance of all types of credit cards guaranteed by these certificates.
Triple Savings Certificate from Banque Misr
Banque Misr introduced a triple savings certificate with a variable return earlier in September, after applying the interest value scheduled to be offered on the savings pool of about one percent, bringing the value of return on the new certificate to 19.5 percent.
The returns from the certificate can be disbursed in two categories.
The first is with a monthly return and a minimum purchase rate is LE500 and its multiples. The second is with a quarterly return, with a minimum purchase rate of LE1,000 and its multiples.
The value of the certificate, or part of it, can be refunded after six months from the date of issuance of the certificate.
