CIB Bank announced the issuance of new certificates after the Central Bank of Egypt’s decision to raise interest rates by 2%, at its last meeting on deposit and lending. In this report, we will learn about the details of the certificates from the bank.
The certificate for a period of 3 years is considered premium at a rate of 13.5%, and also a certificate of 4 years is premium at a rate of 14%, and the minimum purchase of certificates with a high return is 100,000 Egyptian pounds and its multiples, and the return is calculated on a monthly basis.
It is also possible to choose the period of calculating the return monthly with a value of 9.50%, quarterly with a value of 9.75%, or semi-annual with a return of 10%, and the certificate can be fully or partially redeemed after 6 months of its issuance.
This certificate can also obtain a loan with credit facilities of up to 95% of the value of the certificate, at CIB Bank.