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The Internet banking service of the National Bank of Egypt showed, today, that the interest rates on the investment certificates of the National Investment Bank offered by the National Bank of Egypt have been reduced to 6% for a group investment certificate B for one year.
The National Bank of Egypt offers investment certificates with a yield of 11% with a maturity of 3 years, and their returns are paid monthly.
The National Investment Bank reduced the yield on investment certificate B at one year to 6% instead of 9.75%.
The National Investment Bank reduced the yield on the two-year investment certificate B from 9.5% to 6.5% per annum.
The 3-year Group B Investment Certificate yield decreased to 9% annually from 9.25%.
On December 24, the National Bank of Egypt announced that the Assets and Liabilities Committee of the National Bank of Egypt decided today to reduce the annual profitability of its 3-year platinum certificate by 1%, from the issuance that occurs. after the end of work today, Thursday, December 24, 2020, to become 11% annually for certificates whose returns are paid monthly instead of 12% annually.
And it was decided to stop issuing the platinum certificate (three years) that the return was paid every three months, until the expiration date.
The Monetary Policy Committee of the Central Bank of Egypt decided, at its meeting on December 24, to set the overnight deposit and loan rate and the central bank’s main transaction rate at 8.25%, 9.25% and 8.75%. , respectively, and the credit and discount rate was set at 8.75%.
In times of economic slowdown and high inflation rates, Egyptians resort to investing their surpluses in safe and profitable investment havens that produce a return that absorbs inflationary effects (the high level of prices for goods and services) and these investment vessels they develop financial resources through various means.
