Certificate of deposits
Get competitive returns with saib savings certificates
- You can choose from a variety of (fixed interest rate, variable interest rate)
- Multiple interest rate disbursement cycles to suit your various personal needs
- Interest calculation starts on the next working day from CD purchasing date.
- The value of the CD is allowed to be redeemed after 6 months from the date of issuance according to the bank's redemption schedule
- The possibility of borrowing against CD with same currency according to the bank’s credit policies.
- The certificate is issued on the same day of submitting the application until 2 pm through branches and until 4 pm through online banking. The certificate’s maturity date is calculated according to the certificate’s duration from the date of creation.
- The CD interest rate is paid in the same CD currency.
How to Calculate interest rate
For Fixed-Interest Rate Certificates
Example:
Certificate amount: 100,000 Egyptian pounds.
Fixed Interest rate: 10%
Annual interest rate calculation: 100,000 × 10% =10,000 Egyptian pounds.
If the interest rate is paid quarterly, an amount of 2,500 Egyptian pounds is added to your account linked to the certificate.
For Variable-Interest Rate Certificates
Example:
Certificate amount: 100,000 Egyptian pounds.
Variable interest rate: 15%.
The margin set by the bank: 1.5%
Annual interest rate calculation: 100,000 x (15% -1.5%) = 100,000 x 13.5% = 13,500 EGP
If the interest is paid quarterly, EGP 3,375 will be added to your account linked to the certificate.
Note that when the reference rate changes, the new interest rate will be applied after the interest due to the customer's account for the current disbursement period is added, in accordance with the terms of the contract between the customer and the bank.
Breaking the CD Example
|
Amount |
1,000,000 |
||
|
Return Rate |
20.00% |
||
|
Breaking the CD Penalty |
First Year (after 6 months) |
Second Year |
Third Year |
|
16.00% |
15.00% |
14.00% |
|
|
|
((Certificate Amount * Number of days elapsed in the certificate's term) / Number of days in the year) * Breaking the CD penalty |
||
|
Number of days elapsed |
240 |
450 |
840 |
|
Penalty |
105,205 |
184,932 |
322,192 |
Certificate of deposit with fixed interest rate
Excellence CD
- The certificate is issued to individual clients
- The certificate tenor is 3 years
- The CD minimum amount is 100,000 EGP and the CD issued with 1,000 EGP and its multipliers
- The annual return is 20%
- The interest rate is paid monthly.
PRIME (EGP)
- The certificate is issued to individual clients
- The certificate tenor is 3 years
- The CD minimum amount is 1,000 EGP and its multipliers.
- The annual interest rate is 19.50%
- The interest rate is paid monthly
saib Plus - (EGP)
- The certificate is issued to individual clients
- Certificate tenor is 3 years.
- The CD minimum amount is 500 EGP and its multipliers
- The annual interest rate is up to 10.60%
- The interest rate is paid monthly and quarterly ( as per customer request )
- The CD is not auto renewal
- All terms and conditions apply
El Forsa - (USD)
- The certificate is issued to individual and Non-Individual clients.
- The certificate tenor is 3 years.
- The CD minimum amount is $100, and its multipliers
- Annual interest rate up to 2.25%.
- Interest rate is paid monthly, quarterly, semi-annually, annually (based on the client's preference).
Crystal (5years EGP)
- The certificate is issued to individual clients.
- The certificate tenor is 5 years.
- The CD minimum amount is EGP 5,000 and its multiplier.
- Annual interest rate: 11%.
- Interest rate paid Monthly.
- You can issue the certificate through the online banking service.
CRYSTAL (3YEARS EGP)
- The certificate is issued to individual clients.
- The certificate tenor is 3 years.
- The CD minimum amount is EGP 10,000, and the CD is issued with EGP 1,000 and its multipliers.
- Annual interest rate up to 19.25%.
- Interest rate paid monthly, quarterly, annually based on customer request
- You can issue the certificate through the online banking service.
Tamayoz CD
- The certificate is issued to individual clients.
- Certificate tenor is 3 years.
- The CD minimum amount is EGP 1 million for the 1st certificate only.
- Annual interest rate 14%
- Interest rate is paid monthly.
- Issuance of certificates from all saib branches in Egypt
Saver CD
- The certificate is issued to individual clients.
- Certificate tenor is 3 years.
- The CD minimum amount is EGP 5000 and it’s multiplies, and the maximum CD amount is EGP 1 Million.
- Annual interest rate 13.50%
- Interest rate paid monthly
- Issuance of certificates from all channels (mobile banking – internet banking) & all saib branches in Egypt
Certificate of deposit with variable interest rate
saib One (EGP)
- The certificate is issued to individual clients.
- The certificate tenor is 3 years.
- Minimum CD amount is EGP 1,000, and issued with EGP 1,000 and its multipliers.
- The annual interest rate is variable
- The interest rate is paid daily.
- The interest rate is calculated according to the deposit rate announced by the Central Bank of Egypt, minus 1%.
- You can issue the certificate through the online banking service.
- All terms and conditions apply
saib Prime (EGP)
- The certificate is issued to individual clients.
- The certificate's tenor is 3 years.
- The minimum CD amount is EGP 1,000, and issued with EGP 1,000 and its multiples.
- The annual interest rate is variable
- The interest rate is paid monthly or quarterly.
- The interest rate is calculated according to the deposit rate announced by the Central Bank of Egypt, minus: (0.50% for monthly returns - 0.25% for quarterly returns).
- You can issue the certificate through the online banking service.
