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1:19 pm
Friday 09 October 2020
I wrote – Manal Al-Masry:
Banque Misr decided to reduce interest on all savings accounts at variable rates according to the type of account starting this month, coinciding with the decision of the Central Bank’s Monetary Policy Committee to cut interest by half a percent before the end of the last month.
Banque Misr offers 4 types of savings accounts that are aimed at different segments, which are young people, businessmen and regular customers, for the other account a different interest rate is calculated according to the target segment and the periodicity of repayment.
Masrawy offers the interests of 4 savings accounts in Banque Misr, after the interest cut is approved as follows:
Checking account with daily return
First tranche – From £ 50,000 to £ 100,000: the interest rate is 2.5%
The second tranche: more than 100,000 pounds to 500,000 pounds: the interest rate is 2.75%
Third tranche: more than 500 thousand pounds for less than a million pounds: the interest rate of 3%
Fourth group: 1 million pounds to less than 2 million pounds: 3.5%
Fifth group: 2 million pounds to less than 10 million pounds: 3.75%
Sixth group: 10 million pounds to less than 30 million pounds: 4.25%
Seventh group: 30 million pounds to less than 100 million pounds: 4.5%
Eighth group: £ 100 million or more: 4.625%
Savings account in Egyptian pounds
– The first tranche starts from 1500 pounds to 5,000 pounds: ranging from 3% per year for the periodic exchange of the monthly return, 3.25% per year for the disbursement period of the quarterly return, 3.375% per year for the payment period of the semi-annual return and 3.5% per year for the exchange period of the annual return
– The second tranche from 5,000 pounds to 50,000 pounds: the interest rate is 3.25% per annum for the periodic exchange of the monthly profitability, 3.5% per annum for the periodic exchange of the quarterly profitability, 3.625% per annum for the periodic exchange of the semi-annual profitability and 3.75% per annum for the periodic exchange of the annual profitability.
– The third tranche starts from 50 thousand pounds to 250 thousand pounds: the interest rate is 3.75% per year for the periodic payment of the monthly return, 4% per year for the quarterly repayment period, 4.125% per year for the payment of the semi-annual return and 4.25% per year for the annual return period. .
The fourth tranche from 250 thousand pounds to 500 thousand pounds: interest was recorded 4.25% per year for the periodic exchange of the monthly profitability, 4.5% per year for the periodic exchange of the quarterly profitability, 4.625% per year for the periodic exchange of the semi-annual profitability and 4.75% per annum for the periodic exchange of the annual profitability.
The fifth tranche is more than 500 thousand pounds: the interest rate is 4.75% per year for the periodic payment of the monthly profitability, 5% per year for the periodic payment of the quarterly profitability, 5.125% per year for the periodic exchange of the semi-annual profitability and 5.25% per annum for the periodic exchange of the annual profitability.
Current account for pensioners with monthly profitability:
From a thousand pounds and more: the interest rate is 3.5% per year
Youth Savings Accounts:
From EGP 500 to EGP 20,000: The interest ranges from 4.75% per annum for the monthly yield, 5% per annum for the quarterly yield, 5.125% per annum for the semi-annual yield, and 5.25% per annum for the annual yield. .
