After the Central Bank’s decision to raise the interest rate by 2%, on May 19, to reach 11.25% for deposits and 12.25% for lending, everyone is looking for safe and effective savings in banks, to benefit from the increase in interest, and to kill two birds with one stone, which is saving money and getting Monthly return.
Among these pensioners, they also have the right to invest and save their money and get a return from it, and a number of banks offer them different offers to gain their trust, and thus increase the number of their clients.
Among the most prominent banks that have taken this matter are Banque Misr and the National Bank of Egypt, which announced a surprise for pensioners, which is to provide them with a banking service that helps them save their money, which is:
to open A savings account for pensioners with different interest and terms than the regular account
With the interest rate hike, Banque Misr decided to raise the interest rate at the expense of saving pensioners to 3%, while the National Bank kept
The price is unchanged after the central bank’s decision to raise interest rates, but there are many advantages to savings accounts in both banks.
Savings account for pensioners National Bank of Egypt
The minimum amount to open the account: 5 thousand pounds
The bank allows pensioners to invest their money up to one million pounds, or the value of the end-of-service gratuity, as a maximum investment.
Minimum account opening limit 5000 pounds.
Minimum amount for calculating interest 1000 pounds.
Only Egyptians have the right to open the account
Return price Citizen 5.25 %
The pension can be transferred to him.
Opens up to a maximum of one million pounds or the value of the end-of-service gratuity, whichever is less.
Online Banking Services
A direct debit card for withdrawal and purchase.
Pension savings account in Banque Misr
Provides a savings account (current) for pensioners.
Minimum amount to open the account: one thousand pounds
The interest rises and falls according to the average interest rate announced by the Central Bank.
Interest rate currently: 6% annually
A copy of the national ID.
A letter from the employer stating the end of service gratuity.