Suez Canal Bank Launches ‘Current Plus’ Three-Year Floating-Rate Certificate with Yields Up to 19.50%
Suez Canal Bank (SCB) has officially announced the launch of its new three-year floating-rate savings certificate, branded as "Current Plus." The investment product offers an annual yield of up to 19.25% distributed on a daily basis, and up to 19.50% distributed monthly, falling in line with the bank's strategic roadmap to deliver diversified savings portfolios tailored to varying consumer needs.
Flexible Payout Schedules and Minimum Thresholds The financial institution clarified that the "Current Plus" certificate is accessible to retail investors with a low minimum purchase threshold starting at EGP 1,000. Issued in Egyptian Pounds for a fixed tenure of three years, the certificate integrates multiple yield payout frequencies, granting depositors enhanced operational flexibility to manage their savings portfolios and capitalize on recurring returns.
Specifically, Suez Canal Bank noted that the floating annual interest rate is set at 19.25% per annum for clients selecting the daily payout option, whereas the return scales to 19.50% per annum for those opting for the monthly distribution cycle.
Digital Integration and Operational Liquidity Furthermore, the bank emphasized that the new certificate features optimized, minimal redemption fees, providing depositors with greater maneuverability over their personal liquidity and flexible withdrawal options when financial adjustments are required.
To streamline execution, SCB added that clients can seamlessly lock in and purchase the "Current Plus" certificate from any location via the "SCB Mobile" application. This eliminates the necessity of physical branch visits, illustrating the bank’s ongoing commitment to expanding digital banking ecosystems and optimizing user journeys. Suez Canal Bank continues to broaden its array of interest-bearing savings vehicles and digital asset solutions, actively supporting the Egyptian banking sector’s mandates toward financial inclusion and electronic banking upgrades.
