Business The deposits of Egyptians in banks have increased significantly since the beginning of this year, as banks compete to provide the best offers of deposits to customers, either in Egyptian pounds or in foreign currencies
Interest rates on savings deposits offered by banks operating in Egypt vary according to each bank according to the duration and minimum bond linkage, which may be a week, a month or a year.
The deposit is a sum of money that is saved or deposited in the bank for a specified or unspecified period according to specific conditions, in order to save the money or provide it or invest it, and then the holder of the amount on a specific return in accordance with the terms of the contract throughout the existence of the cash amount in the bank , Bank deposits are divided into several types according to the date of redemption, and the deposit can be linked to the Egyptian pound or foreign currency.
Banks' deposits rose to 3.8 trillion pounds
The deposits of customers in the banking system (government and non-governmental banks) rose by 42 billion pounds to reach 3.879 trillion pounds, compared with 3.837 trillion pounds in January, according to the Central Bank of Egypt.
The volume of government deposits in local currency was about
Banks' deposits rose to 3.8 trillion pounds
The deposits of customers in the banking system (government and non-governmental banks) rose by 42 billion pounds to reach 3.879 trillion pounds, compared with 3.837 trillion pounds in January, according to the Central Bank of Egypt.
The volume of government deposits in local currency stood at LE 509.7 billion at the end of February, compared with LE 499.8 billion in January.
While the volume of non-government deposits in local currency stood at 2.492 trillion pounds at the end of February, compared with 2.464 trillion pounds at the end of January 2019.
In this report we present the interest rates on deposits in local currency in banks according to the following:
National Bank of Egypt
NCB offers a variety of deposits with different maturity periods ranging from 7 days to 7 years. The minimum deposit bond is around LE 1000 and the return is at the end of the deposit period.
Rates of return on deposits
– For one week: 7.25%
– For two weeks: 7.75%
– For one or two months: 9.5%
– For 3 months: 9.75%
– For 6 months, one or two years: 9%
– 3 years: 9.25%
– for 4, 5, 6 or 7 years: 9.5%
Read also: Interest rates on dollar and euro deposits in banks
Commercial International Bank (CIB)
CIB offers a variety of deposits, which can be linked for a specified period of time, ranging from one to five years, by depositing the amount at a fixed maturity date and a fixed rate of return.
The yield is paid on deposit maturity from one week to one year, and the proceeds are paid monthly, quarterly, 6 months or annually for deposits with maturity of 3 or 5 years. The Bank also provides overdraft facilities, up to 95 % Of the value of deposits.
Rates of return on deposits
– Week: 3.5%
– One or two months: 9%
– 3 months: 9.25%
– 6 months: 9.5%
– 9 months or years: 9.75%
– One and a half years or 3 years: 9.25%
– 5 years: 9%
Bank Audi
Bank Audi offers a set of deposits in local currency for different periods ranging from one week to ten years. The minimum deposit is about LE 5,000 and the return is at the end of the period.
Rates of return on deposits
– In the case of deposit of the amount of 50 thousand pounds and up to 100 thousand pounds, the interest rate: 9.7%.
– In the case of deposit of the amount of 100 thousand pounds and up to 500 thousand pounds, the interest rate: 10%.
– In the case of deposit of the amount of 500 thousand pounds and up to one million pounds, the interest rate: 10.8%.
– In case of deposit of more than one million pounds, the interest rate is 11.1%.
See also: 6 Terms .. Details of the loan of the Ministry of Awqaf without interest
Bank of Alexandria
Bank of Alexandria offers different types of deposits and is divided into:
Smart deposit
It is a deposit of 3, 6 or 12 months, with a deposit minimum of LE 1000 and a monthly payment.
Deposit in Egyptian pounds
The deposit period starts from one week to one year. The minimum deposit limit is around LE 1000. The overdraft facility is offered up to 90% of the deposit amount.
The interest rate is 9.5% in the case of the return of the return at the beginning of the period with a minimum of LE 1000 and 10.2% in the case of the return of the return at the end of the period and in case of depositing an amount of more than 500 thousand pounds.
Annual deposit with prepayment
The deposit period is one year, while the minimum deposit bond is around LE 1000. The proceeds are paid in advance, provided that the deposit is not renewed and the deposit amount is added to the client's account at maturity.
Housing & Development Bank
Housing and Development Bank (HDB) offers a variety of futures deposits, ranging from 1 month to 5 years, and the proceeds are disbursed at once on the expiry date of the deposit.
Deposits with periods ranging from two to five years may be disbursed periodically annually except for deposits to companies and institutions. The proceeds may be paid every 3 months. The bank also allows the possibility of borrowing with deposit guarantee to 90% of the deposit amount.
Rates of return on deposits
– Less than a month: 3%
– Month: 8.5%
– 3 months: 8.75%
– 6 months: 9.25%
– Year: 9.75%
– Two years: 10.5%
– 3 years: 10.75%
Egypt Bank
Bank Misr offers a variety of deposits, allowing customers to open fixed and fixed deposit accounts for a period of 7 to 7 years. The full deposit can be redeemed at any time before maturity with a return on the effective deposit period based on the current redemption rate The Bank.
Upon maturity of the deposit, the current account or savings account is credited to the current account or deposit. The customers can also borrow with the deposit guarantee in accordance with the rules approved by the bank, as well as the possibility of issuing a credit card in accordance with the rules approved by the bank.
Read also: After the rise of inflation .. A strong trend to stabilize the interest rate
ليست هناك تعليقات