saib Bank Raises Yield on ”Flexi Save” Account to 18% Annually
Société Arabe Internationale de Banque (saib) has announced a new rate increase on the yields offered for its "Flexi Save" day-to-day savings account for individual clients, bringing the maximum annual return to 18%. This decision aligns with the bank's strategy to provide competitive savings solutions tailored to meet the needs of various customer segments.
Basic Requirements and Banking Features
The bank requires a minimum opening balance of 20,000 EGP, while interest calculation starts at a balance threshold of 15,000 EGP, calculated on the lowest balance maintained throughout the month.
The account provides full flexibility, allowing clients to make cash deposits and withdrawals at saib branches or via ATMs. Additionally, customers can issue a direct debit card, monitor their account, and execute several banking transactions easily through the online banking service.
Tiered Interest Rates Applied to the Account
The annual yield is determined according to the available balance in the account, categorized into the following tiers:
From 15,000 to less than 150,000 EGP: 13.5% yield
From 150,000 to less than 500,000 EGP: 14.5% yield
From 500,000 to less than 1 million EGP: 15% yield
From 1 million to less than 1.5 million EGP: 15.5% yield
From 1.5 million to less than 5 million EGP: 16% yield
From 5 million to less than 10 million EGP: 17% yield
From 10 million to less than 100 million EGP: 17.25% yield
From 100 million to less than 200 million EGP: 17.5% yield
200 million EGP and above: 18% yield
Standard administrative fees for savings accounts apply, with the requirement to maintain a balance of no less than 20,000 EGP throughout the month to avoid low-balance charges.