National Bank of Egypt raises interest rates on its saving pools
The National Bank of Egypt (NBE), leading state-run lender, announced that it has raise interest rates on its ‘’B’’ investment certificate with three-year-maturity to reach an annual yield of 12 percent.
It has also raised the return rates on its Pension Saving Account and Al Mostakabal Saving.
Main features of ‘’B’’ investment certificates, Pension Saving Account and Al Mostakabal Saving:
‘’B’’ investment certificates:
- Minimum amount: 500 EGP and its multiples
- Maturity Duration: 3-years
- Interest rate: 12%
- Interest frequency: Quarterly
- Available for: Certificates are issued for natural persons, whether Egyptians or foreigners, adults or minors.
To know more about NBE’s B investment certificate and its features, you may visit the official website by clicking here
Al Mostakabal Saving:
- Minimum amount for account opening: 500 EGP
- Minimum amount for interest accrual: 5000 EGP
- Annually Return up to 6.25 %
- Monthly Return up to 6.00 %
- Quarterly Return up to 6.10 %
- Semi-Annually Return up to 6.15 %
- Persons entitled to open accounts: Starting from 16 year with no age limit
- Required Documents: Copy of ID / Passport with simplest procedures
To know more about NBE’s Al Mostakabal Saving account and its features, you may visit the official website by clicking here
Pension Saving Account:
- Minimum amount for account opening: 5000 EGP
- Minimum amount for interest accrual: 1000 EGP
- Persons entitled to open accounts: Egyptians only
- Interest Rate: 9% Monthly
Required Documents:
- Copy of ID card / Passport
- A letter from the employer addressed to the Bank indicating the amount of end of service benefits.
To know more about NBE’s Pension Saving account and its features, you may visit the official website by clicking here
