Egypt's Nasser Social Bank launches 'Sanad' savings certificate with high returns

Nasser Social Bank in Egypt has introduced a new savings certificate named "Sanad," aiming to attract customers seeking high returns in a stable investment environment. This move follows the Central Bank of Egypt's decision to maintain interest rates, prompting individuals to seek lucrative savings options.

The "Sanad" certificate is designed for low-risk investors looking for fixed or tiered income. It offers a choice between an 18% annual interest rate or a 17% monthly payout. The minimum investment required is 1,000 Egyptian pounds, and interest accrual begins the day after purchase. Additionally, the bank allows borrowing against the certificate, up to 90% of its value, under favorable terms.

Beyond the "Sanad" certificate, Nasser Social Bank offers a diverse portfolio of savings products. These include the "Rad El Gamil" certificate for seniors, which provides an 18.25% annual yield or 16.75% monthly. For those seeking lump-sum payouts, the bank offers cumulative certificates with yields of 20.5% for a three-year term and 18.5% for an 18-month term.

The bank also features a "Day by Day" current account, offering daily accrued interest up to 11.75% and flexible banking services. To purchase these certificates, Egyptian individuals need to present a valid national ID and the investment amount at any Nasser Social Bank branch. Experts recommend the "Sanad" certificate for those prioritizing short-term capital preservation.