A minimum balance of EGP 500,000 and an incremental amount of EGP 1,000
Flexibility to choose the TD’s tenor as follows:
1-month interest rate of 20%
3-month interest rate of 21%
6-month interest rate of 15.50%
Redemption Rules:
For one-month and three-month time deposits (TDs), all interest will be deducted.
For six-month time deposits (TDs), 50% of the interest on the past period before the redemption date will be deducted, whereas the interest on the remaining period without applying a redemption penalty.
Time Deposit
Features and Benefits:
Available to Retail and corporate
Currency: EGP and major foreign currencies
Flexibility to choose the TD’s tenor as follows: 1-month, 2-month, 3-month, 6-month, 12-month.
Flexibility to choose the interest payment frequency as follows: monthly, quarterly, half-yearly, maturity for special rate deposits.
Interest Rate paid at maturity:
1-month: 6.5%
2-month: 6.5%
3-month: 7%
6-month: 7.5%
12-month: 8%
Can be renewed at maturity for the same period according to the published interest rate at the time of renewal or to be disbursed in the account as per client requests.
Secured lending up to 95% of TD amount
Possibility to issue a secured credit card
Redemption Rules:
In case of time deposits with an announced interest rate, the declared rate is to be referred to the lowest nearest tenor rate of -3%.
In the case of time deposits with a special interest rate, 5% is to be deducted from the applied special interest rate.
In the case of USD time deposits, 1% is to be deducted from the applied interest rate while taking into consideration the Central Bank of Egypt’s terms and conditions related to this matter.
USD Time Deposit in Advance
Features and Benefits:
Available to Retail and corporate
Currency: USD
Flexibility to choose the TD’s tenor as follows: (1-month, 2-month, 3-month, 6-month, 12-month)
Interest rate determined based on the tenor as per the bank’s policy
Overdraft facility up to 85% of TD amount
Can be renewed at maturity for the same period according to the published interest rate at the time of renewal or to be disbursed in the account as per client request
TD minimum balance USD 500 and incremental of USD 500
Redemption Rules:
Allowed after one month upon TD’s issuance
The interest will be calculated based on the Actual Days (before redemption); will deduct the interest on the remaining period without applying a redemption penalty
