The highest bank interest in Egypt today

The highest bank interest in Egypt today is one of the most beneficial things, especially for non-state retirees, or there is no source of income for them, so they make a savings certificate to earn bank interest, and here comes the role of banks in providing this return to people, and that’s all. We will get to know in detail on the Egypt Brief website.

What is bank interest?

  • Bank interest is the percentage that the bank puts into money from the date the funds are deposited or accumulated, and is a percentage for the year from the date of accumulation.
  • How is bank interest calculated?

Types of bank interest

  • There are two types of banking benefits that people calculate with their own information and knowing the value of the interest they receive each year, and the two types can be explained as follows:

simple interest:

  • Interest or fixed return for individuals is a certain amount that is determined and put according to the value of the deposit and is paid monthly at a fixed value without change to the person who makes the deposit or collects it as he likes, and this interest is usually short-term, usually does not exceed a year, and may be less.

Simple interest calculator

Simple interest is calculated as follows:

  • The value of the amount borrowed or deposited x the interest rate x the period of deposit or borrowing = the value of the interest.

Compound interest:

  • As a result of adding interest to the previously deposited amount, it is the process of adding the interest value to the principal amount invested and the percentage changes with each visit year.

To learn more about the National Bank of Egypt, you can go to the following article: Returning the National Bank of Egypt’s certificates and the most important certificates offered by the bank.

How to calculate compound interest

  • This is the same as calculating the value of simple interest by adding the interest rate for each year to the amount invested.

The highest bank interest rate in Egypt today

  • Banks increase their customers by raising the interest rate and paying the highest interest on the deposit amount in order to attract customers, and tend to invest their money in banks by applying to banks to meet their needs, such as the elderly, unemployed or employees who are not enough to meet their needs. For the benefit of.

investment certificates

  • Investment certificates are one of the types of saving and earning money by buying investment certificates that are a guarantee and saving clients’ money or depositing their money in banks. Investment certificates are characterized by automatic renewal over time, but the depositor can stop any renewal as needed.

To learn more details about Egyptian banks, we also advise you to visit this article: Which is better for savings, postal savings book or bank, and how to calculate interest with advantages and disadvantages?

savings certificates

  • It is a bank deposit in which the depositor deposits some money with the guarantee of this savings certificate. It can last for ten years according to the request of the client or the investor, and its value increases according to the investment period.

Highest bank interest ever

Investment certificates:

  • The investment certificate offers the highest bank interest at 15.80% of the purchase value, and its return or interest is a monthly value for the depositor for a period of one year. Investment certificates are available with the National Bank of Egypt.

To learn more about credits, contact the National Bank of Egypt customer service, see the steps and phone numbers in this article: National Bank of Egypt customer service phone number Complaint phone number.

savings certificates:

  • It comes in second place, as it gives a monthly interest to the depositor of about 15% on the value of the savings certificate purchase, but if the interest is received four times a year, the value of the return or interest is 15.25% of the value of the certificate.

Egyptian Bank

  • Banque Misr offers a fixed value in savings certificates at a rate of 15% based on the value of the savings certificate for a fixed period of three years.

Decision on bank interest

  • Is it necessary to pay attention to whether bank interest is forbidden or permitted, despite the income and profits that individuals derive from bank interest? We return to the verse to answer such a question (O you who believe, fear God, and if you are a believer, do not be wronged, then do not be wronged, even if you wear your head, unless they denounce the war from God and His Messenger. [البقرة:278-279].

You can also learn more about Banque Misr through this article: Dates, working days and holidays for branches of the Central Bank of Egypt.

Here, we have provided you with the highest banking interest in Egypt today, and to learn more, you can contact us by leaving a comment below the article and we will reply to you immediately.

Source: موجز مصر by

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