Time deposits one Month & three months tenor, all the interest will be deducted.
Time deposits six months tenor will deduct 50% of the interest on the passed period before redemption date & deduct the interest on the remaining period without applying redemption penalty.
Time Deposit
Offered to Individuals & corporate customers
Currency: Local and major foreign currencies
Flexibility to choose the TD’s tenor as follows: (1 Month, 2 Months, 3 Months, 6 Months, 12 Months )
Flexibility to choose the interest payment frequency as follows: (Monthly, Quarterly, Half Yearly, Maturity)
Interest rate:
1 Month: 6.5%
2 Months: 6.5%
3 Months: 7%
6 Months: 7.5
12 Months: 8%
Can be renewed at maturity for the same period according to the published interest rate at the time of renewal or to be disbursed in the account as per customer request.
Secured Lending up to 95% from TD amount
Possibility to issue Secured Credit Card
Redemption Rules
In case of time deposits with an announced interest rate, the declared rate to be referred to the lowest nearest tenor rate -3%
In case of time deposits with special interest rate, 5% to be deducted from the applied special interest rate
In case of USD time deposits, 1% to be deducted from the applied interest rate while taking into consideration the Central Bank of Egypt’s terms and conditions related to this matter
USD Time Deposit in Advance
Offered to Individuals & corporate customers
Currency: USD
Flexibility to choose the TD’s tenor and frequency as follows: (1 Month, 2 Months, 3 Months, 6 Months, 12 Months )
Interest rate determined based on the tenor as per the bank’s policy
Overdraft Facility up to 85% from TD amount
Can be renewed at maturity for the same period according to the published interest rate at the time of renewal or to be disbursed in the account as per customer request.
TD minimum balance 500$ and incremental of 500$
Redemption Rules:
Allowed after one month upon TD issuance
The interest will be calculated based on the Actual Days (before redemption) will deduct the interest on the remaining period without applying redemption penalty.
