saib Introduces Higher Returns on Prime Variable Savings Certificate, Offering Up to 20.50% Annually
saib Bank has revised the annual return on its Prime variable savings certificate, increasing rates by one percentage point to offer 20.50% with monthly interest payments and 20% with daily payments.
The adjustment replaces the previous rates of 19.5% and 19%, respectively, and follows changes in the Central Bank of Egypt’s deposit rate.
The bank explained that the updated certificate forms part of its broader range of retail savings products, aimed at providing customers with flexible financial solutions and competitive returns.
Three-Year Certificate with EGP 1,000 Minimum Subscription
The Prime certificate is issued for a three-year term and requires a minimum subscription of EGP 1,000, with additional purchase amounts available in multiples of EGP 1,000.
Its variable-return structure gives customers the flexibility to select their preferred payment frequency, whether through monthly or daily interest distributions.
Certificate Holders Eligible for Secured Credit Facilities
In addition to its returns, the certificate offers access to financing and credit facilities secured against its value, subject to the bank’s internal policies and applicable conditions.
Customers can also request redemption after six months from the issuance date, in line with the certificate’s governing terms and conditions.
Bank Focuses on Competitive Retail Savings Solutions
The revised Prime certificate rates form part of saib Bank’s ongoing efforts to diversify its retail banking portfolio and strengthen the appeal of its savings products.
The bank aims to address different customer preferences through flexible savings instruments that offer competitive returns while supporting customers in managing and growing their savings.
