CIB raises the interest rate on triple option CDs to 22 percent ...Egypt

EGYPT INDEPENDENT - Economy

The Commercial International Bank (CIB) has raised the interest rate on the triple option certificate of deposits to 22 percent for the monthly interest disbursement period. Official data from the bank revealed that the minimum amount to purchase the certificate will start at five million LE and in multiples of LE1,000. The CIB offers certificates with a variable return in Egyptian pounds, for a period of three years, with a minimum purchase of LE3,000 and in multiples of LE1,000. According to the CIB, interest rates change depending on the deposit and discount rates announced by the Central Bank of Egypt. If the return is due on a weekend or an official holiday, the holiday days are added t

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Last updated : 21 January 2024 clock 01:56 PM

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