Time Deposits
Whether you are looking for a short-term investment or a long-term one, you will find what you need with saib Time deposits.
- Time deposits are available for individuals and corporate customers.
- Competitive return.
- Various Deposit durations to suit your needs.
How to calculate return
The return on the due deposit amount is calculated as follows:
For fixed-return deposits
Example: Assuming the following:
Deposit amount is EGP 100,000.
Fixed return rate is 10%
Annual return calculation: EGP 100,000 x EGP 10% = EGP 10,000.
If the return is paid quarterly, EGP 2,500 is added to your account linked to the deposit.
For variable-return deposits
Example: Assuming the following:
Deposit amount is EGP 100,000.
Reference return rate is 15%
Pricing margin set by the bank is 1.5%
Annual return calculation: EGP 100,000 (x 15 - 1.5%) = EGP 100,000 x 13.5% = EGP 13,500.
If the interest is paid quarterly, an amount of EGP 3,375 will be added to your account linked to the deposit.
Note that when the reference rate changes, the new interest rate will be applied after adding the interest due to the customer's account for the current disbursement period, in accordance with the terms of the contract between the customer and the bank.
Explanatory example of a TD Breakage
|
Amount |
1,000,000 |
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|
Return Rate |
20.00% |
||
|
Breakage Penalty |
First Year (after 6 months) |
Second Year |
Third Year |
|
16.00% |
15.00% |
14.00% |
|
|
|
Deposit Amount * Number of days elapsed in the deposit term / Number of days in the year *Breakage Penalty |
||
|
Number of days elapsed |
240 |
450 |
840 |
|
Penalty |
105,205 |
184,932 |
322,192 |
Smart TD
saib Smart TD is a short-term time deposit in different tenors for individuals
TD's Features:
|
Tenor |
1 month |
3 months |
6 months |
12 months |
12 months |
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|
Minimum amount |
EGP 150,000 |
EGP 150,000 |
EGP 150,000 |
EGP 150,000 |
EGP 150,000 |
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|
Annual Interest rate |
Less than 1 Million EGP 18.50% |
More than 1 Million EGP 18.75% |
Less than 1 Million EGP 15.75% |
More than 1 Million EGP 16% |
Less than 1 Million EGP 15% |
More than 1 Million EGP 15.25% |
Less than 1 Million EGP 13.50% |
More than 1 Million EGP 13.75% |
Less than 1 Million EGP 14.50% |
More than 1 Mi1llion EGP 14.75% |
|
Interest Payment frequency |
Monthly |
Monthly |
Monthly |
Monthly |
At Maturity |
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All Terms & Conditions apply. To print Application, click here
Diamond Time Deposit in EGP
Features and Benefits:
- A long-term, 3-year fixed-return deposit.
- Minimum deposit of EGP 500.
- The deposit is available to individual clients and legal entities.
- The return is annual and is paid monthly or quarterly, depending on the client's choice at the time of deposit.
- The client can borrow against the deposit in the same currency as the deposit, in accordance with the bank's credit policy.
- You can link the deposit through the online banking service.
For more information, please call 16668.
Halan in advance time deposit in USD
Invest your money with our NEW product “Halan in advance USD TD”
saib offers you a special TD in USD tenors (1-3-6-12) months to be compatible with your needs.
TD’s features
- Interest will be paid in advance.
- TD is available for individual and non-individual customers.
- Minimum amount of the TD is 20,000 USD.
- In case of refund / breaking the TD, the paid interest will be deducted from the principal amount.
- OVD could be granted against the TD in accordance with the determinants of borrowing against TDs and bank credit policies, the lending interest rate to be at least 4% above the TDs interest fixed rate on lending date
- You can link the deposit through the online banking service.
For more information, please call our hotline 16668
Konooz USD Time Deposit
Invest your money with our new product, the "Konooz US Dollar Deposit.
saib Bank offers you a distinctive US dollar deposit for a period of (1, 3, 6, or 12) months, as follows:
Features and Benefits:
- The deposit is available to natural individuals and legal entities with new accounts only.
- The minimum deposit is 10,000 EGP.
- No interest is due upon breakage.
- The deposit can be secured by borrowing in the same currency after three months from the date of establishment, at a rate of up to 70% of the deposit amount, in accordance with the bank's internal policy.
For more information, please call 16668.
