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Nasser Social Bank announced the reduction of the old-age savings certificate to 13% per year instead of 15.5%, provided that the term of the certificate is 3 years and is issued to those who are 60 years old, with a maximum of 2 million pounds per person, and profitability is calculated as of today. Next to buy the certificate.
Dr. Nevin Al-Kabbaj, Minister of Social Solidarity and Chairman of the Board of Directors of Nasser Social Bank, announced that the Assets and Liabilities Committee of the Bank “ALCO” met to discuss the rates of return on certificates and deposits after of the decision of the Monetary Policy Committee of the Central Bank of Egypt to reduce both the overnight deposit and loan rate and the rate of the main Central Bank transaction by 50 basis points, to 8.75%, 9.75% and 9.25%, respectively.
Al-Kabbaj added in a press release that it was decided to keep the certificate of “retribution” with the aim of continuing to provide high profitability to older clients, within the framework of the bank’s role, sharpness and interest in all segments. society, especially the elderly, and provide them with all kinds of support and protection as decided. The term of the certificate is 3 years, with a return of 13% per year, or a return of 12.50% quarterly, or a return of 12.25% per month, so the return certificate of Nasser Social Bank is the higher profitability of the banking market.
In the same context, Mohamed Ashmawy, vice president and general manager of Nasser Social Bank, explained that it was also decided to continue offering the return certificate for a period of one year with a return of 11.50% per year and a monthly return of 11%. , explaining that the value of the certificate starts at 1000 pounds and double it up to a maximum of 2 million pounds per person. One, and the age to benefit from the certificate has already been reduced to 60 years, explaining that the bank offers a variety of investment certificates for all segments of society, and one of the advantages of these certificates is that they are in various magazines of exchange “monthly – quarterly – annually” so that the customer has the freedom to choose. Between the different exchange periods the return according to your needs.
Ashmawy pointed out that the bank maintained the same rates of return for the three-year certificates, so the annual return is 12.75%, while in the quarterly change period, the return of the same is 12.25 % and 12% is disbursed monthly, noting that the certificates can be borrowed with their guarantee under easy conditions according to the rules approved by the bank. With a rate of up to 80% of its value, it can also be recovered six months after the date of issue. The bank aims to develop by expanding its system of services and products, and identifying the opinions and queries of customers with respect to all the banking products on which it wishes to inform itself.
