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| *Travel Tips>>>Egypt Travel Tips |
What are the good banks in Egypt with good interest? |
Travel Info Hello, i want to know what banks here offer an interest for money please explain for me the system like what is the minimum account balance and what is the interest rate( how many % for how long) and stuff like this. Thank you Travel Tips Most banks have similar if not identical rates for savings account.Expect an interest rate of 7-8% in most multinational international banks such as HSBC & Barcalys. You should be able to get a slightly higher rate in local banks 8-8.5% in bank Misr, Al Ahly etc and this is for the 1 year savings account. You can also get better rates for long term saving certificates, the best rate i saw in ads is a 15% offered by Paireus over a 10 year commitment. Citibank offer a 5 year saving scheme for a 9.5%. It really depends on how long you want to keep your money in the bank.If you are going to need them within a couple of years, then savings accounts are the best way, remember there are expensive penalties if you break a saving certificate. Others Muslims don't like interest so chances are it would have to be a small (because of the lack of customers) non Muslim bank. Interests in Egypt between 8.5 - 10 % for londer than one month in the saving account, your account should be in Egyotian pound, for accounts in US $ or EURO it will be very small about 2.5 % Best banks are CIB Commercial International Bank National Bank of Egypt HSBC Citi Bank EAB Egyptian American Bank NBSG highest rate in egypt now not in banks but in post office mostly 10% ayear ..the best bank give maximum 8.5%(cib) the minimun account balance in most of the banks is 3000-5000 Egyptian pounds, it depends if it's a saving account or an open account...the intrest for the saving one is 7% every 6 months...The Ahly Bank gives more intrest like 9%... if u're gonna put a deposite, the minimum should be 10 000 Egyptian pounds and the intrest varies depending on the periode u're gonna put this deposite...for example if it's gonna be for a month, so the intrest could be 6% per year (varies from bank to bank) which means if u put 10 000 Egyptian pounds as a deposite for a month, u're gonna take every month ( 10 000 X 6%) / 365 days X 12 months = 19.7 Egyptian pounds per month..... you can make a deposite for 2 weeks, a month, 3 months, 6 months, 9 months or a year....the intrests will vary from bank to bank and due to the periode u precise... if your want to make a deposite for more than 1 year, it has another conditions, u should ask about it by yourself... the number of intrests that i gave is from the Arab Bank, i was working there... other good banks are: El Ahly Bank The CIB NSGB Got experience from working in a Bank... CIB Commercial International Bank is the no. 1 bank in Egypt |
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