The National Bank of Egypt decided to increase market competition and provide customers and citizens with a new savings vehicle by launching a three-year Platinum certificate with a 17 percent yearly return.
Increasing the price of the return on the platinum certificate for three years – with a monthly return, to a return of 16% annually instead of 14%, starting today for new or renewable certificates automatically, in light of the Central Bank of Egypt’s decision to move interest rates; and paying the return annually, at a rate of 25%, as the bank’s assets and opponents committee decided.
The National Bank is working to determine the returns of savings certificates in accordance with the price of the Central Bank of Egypt, and this certificate is used as soon as the return begins on the day following the savings certificate. The customer cannot tell the Certificate of the Platinum of the Platinum of the Platinum before it spends a period of six months, and that It starts from the next business day for the purchase, and after the end of the period, the Certificate of the Platinum of the Platinum of the Platinum
The National Bank offers the chance to borrow money from any branch that follows the bank with the guarantee of savings certificates. It also offers the benefit of issuing credit cards to guarantee these certificates, and the minimum purchase of the certificate reaches 1000 pounds. The investment period is three years, and the cost of the return on the National Bank 2022 savings certificates reaches 11.5%. is an annual return.
It is noteworthy that the Monetary Policy Committee of the Central Bank of Egypt decided today, headed by the Governor of the Central Bank, Hassan Abdullah, in its exceptional meeting today, raising the price of the return and lending for one night and the price of the main operation of the Central Bank by 200 basis points to 13. 25%, 14. 25% and 13. 75%, respectively. Additionally, the credit and discount rate was increased by 200 basis points to 13.75 percent.
The National Bank of Egypt improves the return on the platinum certificate to 16% yearly after increasing the interest rate.
About Author
