AAIB launches savings certificate with highest investment return among banks

© Egypt-Business.com

The Arab African International Bank (AAIB) announced the launch of a new savings certificate with the highest investment return in the banking market. This announcement came via an official statement on its Facebook page. The certificate is open for investments for a period of three years starting from Monday, October 2, 2023. AAIB highlights several advantages of this certificate. Firslty, the minimum purchase amount is set at LE5,000 with no maximum limit. At the end of the investment period, the cumulative price on the certificate reaches 65 percent. The certificate, however, cannot be renewed after the three-year period ends. Other key features of the certificate include the allowance for borrowing from the AAIB at a rate of 80% of the original certificate amount. The bank only offers this certificate to ordinary retail customers, but it can be used as a guarantee to issue a credit card from the AAIB. According to a statement from AAIB, the bank recorded a net income from returns of US$226.5 million, and net income from fees and commissions of $46 million in the first half of 2023, bringing net revenues to $284 million. This move signifies AAIB's intention to provide its customers with the best opportunities for maximizing their savings returns.