The National Bank of Egypt (NBE) raised the return rate on its dollar-denominated three-year New Golden Certificate from 2.75% to 3% last week.
Sources said the bank has taken such move so as to encourage customers to invest their dollar funds in savings pools to boost the national economy and also benefit customers.
The certificates are issued for individuals and companies with minimum amount of US$ 500 and its multiples, with a quarterly return. The value of the certificate can be refunded six months after the day of purchasing.
The holders of these certificates can borrow up to 95% of the certificate value ans also can enter regular draws (twice a year) for car prize.
It is worth mentioning that Banque Du Caire raised the return rate on its dollar denominated three-year Brimo Certificate from 2.75% to 3.125%, and the return rate on the dollar denominated five-year Brimo Certificate from 3% to 3.25% last March so as to attract more funds to the bank which thereby will boost the national economy.
