What is the highest return on CDs in Egypt?

After the Central Bank of Egypt (CBE) reduced its base interest rate by 2.25 percent on Thursday, April 17, interest has risen regarding the new interest rates for Certificates of Deposit, particularly from the National Bank of Egypt (NBE) and Banque Misr, amid the increased search for savings instruments that offer the highest possible return.

The CBE announced a reduction in the interest rate on deposits to 25 percent and on loans to 26 percent.

The NBE has amended the return on the Triple Platinum Certificate, reducing it from 27 percent to 25.25 percent, with the return continuing to be paid quarterly. Purchases start from LE 1,000 and multiples thereof.

The certificate also allows for borrowing against it or issuing credit cards.

In a parallel move, the NBE decided to suspend the issuance of the Annual Platinum Certificate with a fixed return of 27 percent, effective Sunday, April 27.

Banque Misr announced a reduction in the return on the three-year variable-return certificate from 27 percent to 24.75 percent. This certificate has recently become one of the bank’s most in-demand savings instruments.