Egypt Daily News – The National Bank of Egypt announced a 0.5% reduction in the interest rates on its three-year dollar savings certificates, “Al-Ahly Fawran” and “Al-Ahly Plus.” The annual interest rate on the “Al-Ahly Fawran” certificate has been lowered to 7.5% from 8%, while the rate on the “Al-Ahly Plus” certificate has decreased to 5.5% from 6%.
The National Bank of Egypt has reduced the interest rates on its dollar certificates—specifically, the “Fawran” certificates with prepaid interest in Egyptian pounds—from 8.5% to 7.5%. The bank had previously lowered the rate on these certificates in October from 9% to 8.5%.
The interest rates on the three-year “Golden” dollar certificates now stand at 5.15% for monthly payouts, 5.25% for semi-annual payouts, and 5.3% for annual payouts.
The interest rates on the “Ahl Masr” U.S. dollar certificates are as follows:
- 7-year certificates:
- Quarterly interest: 4.95%
- Monthly interest: 4.9%
- Semi-annual interest: 5%
- Annual interest: 5.05%
- 5-year certificates:
- Quarterly interest: 5.05%
- Monthly interest: 5%
- Semi-annual interest: 5.1%
- Annual interest: 5.15%
