Al Baraka Bank Adjusts Annual Savings Account Interest Rate to a Maximum of 15.5%
Al Baraka Bank Egypt has announced a revision to the interest rates on its annual savings account tiers, setting the maximum annual return at 15.5% for individual customers. The account, available in Egyptian pounds, offers returns calculated on the lowest monthly balance and credited once per year.
Flexible Savings Options for Individuals
Individuals can open the annual savings account with a minimum balance of EGP 1,000, which also qualifies them to earn interest. The account is designed to encourage long-term savings while providing flexible access to funds and services.
Customers can also benefit from a debit card, online banking access, and the ability to manage their accounts seamlessly through Al Baraka Bank’s digital channels.
Updated Interest Rate Structure
Following the new adjustments, the annual savings account now offers the following tier-based returns:
Below EGP 1,000 – No interest
EGP 1,000 to
EGP 5,000 to
EGP 50,000 to
EGP 1 million to
EGP 5 million to
EGP 10 million to
EGP 15 million to
EGP 20 million and above – 15.5% (down from 16.5%)
Interest is calculated on the lowest monthly balance and credited annually to the same account.
In Line with Monetary Policy Trends
The decision comes shortly after the Central Bank of Egypt’s Monetary Policy Committee announced a 1% interest rate cut, lowering the deposit rate to 21% and the lending rate to 22% during its meeting on Thursday, October 2, 2025. This marks the fourth interest rate reduction by the central bank this year, reflecting a continued effort to balance inflationary pressures and stimulate investment activity.
Account Opening Requirements
To open an Al Baraka annual savings account, customers must provide:
Valid national ID card (for Egyptian nationals)
Valid passport (for non-Egyptians)
With this adjustment, Al Baraka Bank Egypt reaffirms its commitment to offering competitive and flexible savings solutions tailored to diverse customer needs, while aligning its offerings with the broader direction of Egypt’s evolving monetary landscape.