Egyptian banks lift savings‑certificate yields to as high as 19.5%

The National Bank of Egypt announced a rise in the monthly‑payable return on its 3‑year “platinum” fixed‑rate certificate to 17.75% annually, up from 17.25%. It also introduced a variable‑rate version that now pays 19.5% a year, calculated as the central bank’s deposit rate plus 0.5%, with a 1,000 EGP minimum purchase.

Bank of Egypt similarly increased the fixed‑rate “summit” 3‑year certificate to 17.75% annually, while its variable‑rate products now offer up to 19.25% a year, based on the central bank’s rate plus 0.25%. Both banks require a minimum investment of 1,000 EGP and restrict early redemption for at least six months.

These moves follow recent interest‑rate hikes by the Central Bank of Egypt and intensify competition among banks to attract depositors seeking higher monthly returns.