Floating Certificates Of Deposits

1. Certificates available in EGP
2. Competitive interest rates
3. Possibility of borrowing against certificates
4. Interest payments can be credited direct to current or savings accounts
5. Minimum initial purchase EGP 5,000 Minimum additional purchases of EGP 1,000 (or multiples of)
6. Flexibility to choose to have the interest calculated monthly or quarterly or annually
7. Payment Method: direct from a current or saving account in Egypt
8. Start Date for interest calculation: next working day after purchase
9. Redemption: not allowed before six months from date of purchase and to be according to Central Bank of Egypt approved redemption rules

1. 3 years with 15.5% annual floating interest rate* paid monthly
2. 3 years with 15.75% annual floating interest rate* paid quarterly
3. 3 years with 16% annual floating interest rate* paid annually

*Annual Floating rate is subject to change according to Central Bank of Egypt Discount rate

• No maximum purchase limit

• Tenor of certificate is 3 years

• No cheques can be drawn against the certificate

• The certificate is issued to individuals only

• The certificate is nominal and can’t be sold on or transferred

• Returns are calculated as of the next business day post purchase

• The certificate has a floating annual return linked to the CBE discount rate

• The certificate shall not be refunded until at least six months post purchase

• In case of a redemption request, the original certificate must be provided to the issuing branch

• Returns are added at the end of each term according to the selected payment frequency (monthly or quarterly or annually)

• All credit facilities granted against the certificate as well as their interest to be settled in full before redeeming the certificate

• Borrowing guaranteed by the certificate is acceptable in the name of the certificate owner or a third party under the terms and conditions determined by the Bank

• Certificate will be issued as per the announced interest rate on the day of purchase (where the interest rate is changes as per the CBE discount rate at the time)

• The Bank has the right to renew the certificate as per the announced interest rate and conditions on the day of renewal unless the customer notifies the bank with other instructions at least one month prior to the certificate maturity date

Return is calculated in the redemption situation as follows: