The National Bank of Egypt launched the triple savings certificate with a variable return after raising the interest on it by one percent, so that the return value became 19.5 percent.
The periodicity of disbursing the return on this type of certificate is quarterly. The minimum purchase period and duration for a savings certificate is three years.
The bank allows issuing credit cards of all kinds with the guarantee of these certificates.
Banque Misr also launched triple savings certificate with a variable return earlier in August, after raising the interest on it by one percent, so that the return value became 19.5 percent.
The returns of the certificate can be disbursed in two categories, the first with a monthly return. The minimum purchase price of the certificate is LE500 and its multiples.
The second is with a quarterly return. The minimum purchase price is LE1000 and its multiples.
The value of the certificate or part thereof can be refunded after six months from the date of issuance of the certificate.
