The 18% Certificate is Back Again!

What is the truth behind the return of the 18% certificate again in Egyptian banks? Find out with Faydety more information about the return of this investment certificate which is very popular as evident by the number of Google searches.

As you may know investment certificates also known as savings certificates are one of the best ways to invest safely, especially after a hike in prices.

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The 18% Investment Certificate

The United Bank is the only bank offering the 18% certificate as per its announcement on Monday 6^th December 2022. The bank stated that the 18 % certificate has been reinstated as part of their recent improved services for their clients.

This has left citizens in a state of continuous search mode to find out the truth of whether the 18% certificate is actually back or not.

At the moment the certificate is available at The United Bank only. None of the other banks including the National Bank of Egypt or Banque Misr are offering it.

Also read: How to obtain a loan with the 18% certificate?

The 18% certificate offered by The United Bank

The United Bank is now the only bank offering the 18% certificate, which is considered the best certificate in Egypt at the moment, and this is part of their drive to attract more customers.

How is the interest rate determined?

As for the interest rate, each bank sets the interest rate on certificates based on the research done by its internal departments, depending on the available funds it has, the target customers, liquidity levels, as well as according to the plans/interest rates set by rival banks.

The most important features of the 18% certificates in Egypt

• The 18% certificate is characterized by the fact that the interest rate ranges from 16.25% annually for the monthly interest payments, and 16.5% for the quarterly interest payments.
• The 18% certificate is characterized by the fact that the interest rate is 17% if the interest is paid annually.
• The 18% certificate is characterized by the fact that the interest rate is 18% annually if it is paid one time all together at the end of the certificate’s term, i.e., a one-time disbursement.

Minimum purchase amount for the 18% certificate

The 18% certificate minimum purchase amount is 1,000 EGP which is the same minimum for the rest of the United Bank certificates.

You can also redeem the 18% certificate after 6 months of purchase.

Why is the 18% certificate back again?

The United Bank's decision to offer the 18% certificate came in conjunction with the decision of 14 other banks to raise the interest rate on their certificates. This is after the central bank announced a 2% interest rate hike in September.

If you want to know more about the best savings certificates in every Egyptian bank check our website for The best investment certificates