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After the National Bank.. Banque Misr raises the interest on the savings account

12:27 PM

Thursday, January 12, 2023

I wrote – Manal Al-Masry:

Banque Misr raised the interest rate by 2.25% on the regular savings account, starting from this week, similar to the National Bank of Egypt, and after the decision to issue a certificate with a high return of 25%.

Banque Misr raised the interest rate on the regular savings account after issuing a 25% certificate, which is a step in changing the interest structure on all savings and loans at the beginning of 2023.

On Wednesday of last week, Al-Ahly and Egypt Bank surprised its customers by offering a high-yield certificate for a year with an interest rate of 25%, the return of which is paid at the end of maturity, and 22.5%, the return is paid monthly, in a move aimed at curbing dollarization (the black market for illegal trading of the dollar).

The National Bank also decided last week to raise the interest rate by 2% on its savings accounts and deposits, coinciding with the existence of a high-yield certificate and raising interest on loans.

-Number of account segments: divided into 5 segments, including interest according to the balance of each segment.

Interest calculation: It starts on the balance from the first 3 thousand pounds, and without that (zero) interest.

The first tranche starts from 3 to 5 thousand pounds: it ranges from 6.25% annually for the monthly interest payment period, 6.5% annually for the quarterly interest payment period, 6.625% annually for the semi-annual interest payment period, and 6.75% annually for the periodic payment period. Annual return.

The second tranche is more than 5 thousand pounds to 50 thousand pounds: the interest rate is 6.5% annually for the periodic exchange of the monthly return, 6.75% annually for the periodic exchange of the quarterly return, 6.875% annually for the periodic exchange of the semi-annual return, and 7% annually for the periodic exchange of the return. Annual return.

The third tranche is more than 50,000 pounds to 250,000 pounds: the interest rate is 7% annually for the monthly interest payment period, 7.25% annually for the quarterly interest payment period, 7.325% annually for the semi-annual interest payment period, and 7.5% annually. For the annual return exchange period.

The fourth tranche is more than 250,000 pounds to 500,000 pounds: the interest recorded 7.5% annually for the periodic exchange of the monthly return, 7.75% annually for the periodical exchange of the quarterly return, 7.875% annually for the periodic exchange of the semi-annual return, and 8% annually for the periodic exchange of the return. annual.

The fifth tranche is more than 500,000 pounds: the interest rate is 8% annually for the monthly interest payment period, 8.25% annually for the quarterly interest payment period, 8.375% annually for the semi-annual interest payment period, and 8.5% annually for the annual interest payment period. .

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