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اليوم السابع
Top savings certificates by banks
The article focused on the Central Bank of Egypt's decisions regarding the hold on interest rates for deposits and loans, as well as adjustments to the returns on savings certificates offered by Egyptian banks. Notably, it increased the return on platinum certificates with a monthly profit rate to 17.75% for a three-year period, and introduced a new savings certificate with an annual return of up to 19.5%, paid monthly. Additionally, the National Bank of Egypt and the Commercial International Bank raised their savings certificate returns to 18% and 17.75%, respectively, offering a variety of terms and types of returns (fixed and variable). These measures aim to stabilize the value of returns and provide attractive options for citizens, at a time when the Central Bank uses interest rates as a tool to control inflation, which fluctuates between lowering and raising it depending on economic conditions.
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