He presents National Bank of Egypt A variety of savings certificates in Egyptian pounds, varying in duration and return disbursement mechanisms, giving citizens wide flexibility to choose the savings certificates that are compatible with their financial needs and goals.
In this regard, Dr. Walid Jaballah, the economic expert, says that the maturity date begins this month Savings certificates With returns of 27% and 23.5%, over a period extending to four months, which leaves a direct and clear impact on the movement of liquidity within the banking system, and as individuals obtain their savings, it is expected that they will turn to searching for various investment alternatives, which may lead to a noticeable change in investment and consumption patterns within the Egyptian market, whether in terms of the volume of spending or the nature of directing funds.
Jaballah added – during statements to “Sada El Balad” – to highlight the importance of offering multiple and diverse savings vessels within the banking system, with the aim of absorbing approximately one trillion pounds, representing the value of the funds resulting from the maturity of savings certificates with returns of 27% and 23% during the current month and over the next four months. This measure is necessary to maintain the monetary balance and prevent the exit of large masses of cash from the banks at once.
He invited Jaballah to… Providing various savings certificates in terms of duration Investmentwhether for a period of one or two years, with returns consistent with the announced interest rate, ensuring the continuity of liquidity within the banking sector. He stressed that this will contribute to reducing the direction of this money towards excessive consumption or purchasing cars and durable goods, which supports market stability, reduces inflationary pressures, and helps enhance economic stability in general.
During this month, savings certificates with high returns of 27% and 23.5% began maturing, which were offered for a period of 4 months, which increased citizens’ interest in searching for the highest return available on savings certificates at the present time.
The National Bank of Egypt also offers a one-year savings certificate, which is considered a fixed-return certificate, with an annual return of 14%, which is disbursed monthly.
Platinum certificates
The return on the platinum certificate in Egyptian pounds with a monthly return for 3 years is about 16%.
As for the platinum certificates with a graduated return, they are as follows:
– Monthly graduated return: 21%, then 15.25%, then 12%.
– Annual graduated return: 22%, then 17.5%, then 13%.
Types of returns on savings certificates
Savings certificates provide citizens with various returns, which may be:
– Fixed returns paid monthly,
– Or variable returns determined according to the interest rate announced by the Central Bank of Egypt.
Central bank decisions and their impact on interest rates
At the conclusion of its last meeting, the Monetary Policy Committee of the Central Bank of Egypt decided to reduce interest rates by 1%, to become:
– The overnight deposit return rate is 20%,
The overnight lending rate is 21%.
The central bank uses the interest rate tool to control inflation rates, which means the rise in prices of goods and services. The interest rate is lowered when inflation declines, or raised when prices increase.
Durations and types of savings certificates
The duration of savings certificates offered by banks ranges from one year to 7 years, and varies between:
– Fixed return certificates.
– And variable return certificates.
-And others with diminishing returns.
It is worth noting that, in light of these multiple options, citizens continue to search for the highest return on one-year savings certificates, as they are among the most attractive savings vessels at the present time.
