Egypt’s HDB issues new 3-year-maturity saving certificates with 17.25% annual yield

Egypt’s Housing and Development Bank announced on its Facebook official page that it has introduced a new a three-year-maturity savings certificate, Royal Plus, with a fixed annual yield up to 17.52% and monthly yield up to 16.25%. Royal Plus is with a minimum of EGP one million and multiples of EGP 100,000.

The bank added that the new saving certificate can't be redeemed before 6 months as of the business day following the date of purchase. The redemption rate is calculated on 6-12 month at 6%, in the second year at 5%, and in the third year at 4%.

The certificate may be prematurely redeemed in accordance with the rules announced at HDB and it is fully redeemable at its maturity date with its nominal value.