Egyptian banks boost savings‑certificate yields to record highs

Bank Misr announced a new set of savings certificates with competitive returns, raising the annual rate on its three‑year “Al‑Qimma” certificate to 17.85% for a quarterly payout and offering variable‑rate products that now reach up to 19.96% per year. The bank also introduced additional fixed‑term certificates with yields ranging from 16.25% to 19.25% depending on the term and payout frequency.

The National Bank of Egypt similarly increased rates on its Platinum certificates, lifting the three‑year fixed‑rate offering to 17.75% annually with monthly payouts and adding a new variable‑rate certificate that pays up to 19.5% per year. Both banks highlighted the changes as a response to market conditions and a means to enhance returns for individual depositors, while also allowing the certificates to be used as collateral for loans and credit cards.