US dollar savings certificates for 2023 are available with different returns and various purchase limits starting from $100 per certificate.
Four Egyptian banks announced raising the interest rate in the middle of 2023 on dollar savings certificates at a high rate that was considered the highest at the level of the banking system Egypt to counter the US Federal Reserve’s decision to raise interest rate on the dollar.
Dollar savings certificates or savings certificates in foreign currency in general is a bank investment certificate with a medium or long-term deposit starting from three years up to seven years. The Egyptian banking sector provides a number of dollar savings certificates with a fixed periodic return.
The return varies from one bank to another, as follows:
1-Commercial International Bank (CIB)
The CIB offers the triple savings certificate in US dollars with a return of 5.25 percent, the highest ratio for this type of certificate among all banks in Egypt.
Conditions for dollar savings certificates at CIB:
- Interest rate: 5.25 percent annually.
- The return is disbursed monthly.
- Minimum certificate price: $1,000.
- Certificate duration: Three years.
2-National Bank of Egypt (NBE)
The National Bank of Egypt offers dollar savings certificates, or as it is called, the golden certificate in US dollars, with an annual return of up to 5.15 percent.
Conditions for dollar savings certificates in the National Bank of Egypt:
- Interest rate: 65.15 percent annually.
- The return is disbursed monthly.
- Certificate duration: Three years.
- Minimum certificate price: $500.
3-Banque du Caire
Banque du Caire offers dollar savings certificates, or the Primo certificate in US dollars, with a return of up to 5.15 percent annually.
Conditions for dollar savings certificates in Banque du Caire:
- Interest rate: 5.15 percent annually.
- The return is disbursed monthly.
- Certificate duration: Three years.
- Minimum certificate price: $100.
4-Banque Misr
Banque Misr provides dollar savings certificates with a return of up to 5.15 percent annually. Thus, it is among the top four Egyptian banks that provide high interest rate on savings certificates in dollars.
- Conditions for dollar savings certificates in Banque Misr:
- Interest rate: 5.15 percent annually.
- The return is disbursed monthly.
- Certificate duration: Three years.
- Minimum certificate price: $100.
