Key Features of Banque Misr’s ‘Elite’ USD Certificate for Savers and Investors
Banque Misr offers the “Elite” Certificate of Deposit (CD), a U.S. dollar–denominated savings product designed for individuals seeking a stable, fixed-income investment. Below is a breakdown of its main features:
Currency & Denomination
Issued in U.S. dollars
Available in denominations of USD 1,000 and multiples thereof
Term & Renewal
Fixed term of 3 years, starting from the next business day after purchase
Non-renewable upon maturity
Eligibility
Available to individual customers, both Egyptian nationals and foreign residents
Interest Rate & Payout
Fixed annual interest rate of 5.5%
Interest paid quarterly in U.S. dollars
Redemption Conditions
No redemption allowed within the first 6 months from purchase
After 6 months, redemption is permitted in USD, with adjusted interest rates applied:
From the first year until the end of the second year: 2.5%
From the end of the second year until maturity: 3.5%
No interest is paid for incomplete months
Loan Facilities
Customers can borrow in Egyptian pounds against the certificate
Maximum loan-to-value: 50% of the EGP equivalent of the certificate’s value at the prevailing exchange rate
Loan interest rate: corridor lending rate – 2.25%
Maximum financing per customer: EGP 10 million