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البوابة
Egypt Banks Launch High-Yield Savings for Elite Clients
Egyptian banks are moving to strengthen liquidity and attract wealthy depositors by issuing savings certificates with high returns, ranging between 17.25% and 19%. These offerings target high-net-worth individuals, with a minimum subscription amount ranging from one to five million Egyptian pounds. These steps come despite the Central Bank of Egypt keeping interest rates steady at 19% for deposits and 20% for lending, aiming to enhance long-term funding sources and reduce costs—particularly amid increasing demand for credit from businesses and individuals. Large depositor accounts are an important and more stable source of bank funding, and these certificates are cheaper than other financing sources, thereby increasing competition among banks to attract fixed deposits.
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