Egyptian banks launch new savings certificates with competitive returns

Egyptian banks are introducing various savings certificate options to provide competitive returns for individual customers.

United Bank has launched a three-year certificate offering a total upfront return of 40% of the certificate value. This upfront payment is credited to the customer's account on the next business day following the certificate's issuance. The minimum purchase amount is 5,000 Egyptian pounds, and customers can borrow against the certificate according to the bank's credit policy.

Banque Misr is also offering several products, including the ‘Al Qemma’ three-year certificate with monthly returns of up to 17.75% or quarterly returns of 17.85%. Additionally, the ‘Ibn Misr’ certificate features a declining return structure: 20.5% in the first year, 16.25% in the second, and 12.25% in the third. The bank also provides cumulative certificates with a total return of 66.56% after three years, as well as variable-rate certificates linked to the Central Bank of Egypt's corridor rates.