National Bank of Egypt Adjusts Platinum Certificate Yields

The National Bank of Egypt (NBE) has raised the annual yield on its fixed-rate Platinum certificates of deposits. This decision was made by the bank’s Asset and Liability Committee (ALCO), which approved the adjustment to the interest rates on these certificates.

The updated rates are 18.75 percent for certificates with monthly interest payouts and 18.85 percent for those with quarterly payouts. This represents an increase of one percentage point from the previous rates of 17.75 percent and 17.85 percent respectively.

The changes are effective from Sunday, November 8, and are available to customers through all NBE branches and the bank’s digital applications. The adjustment applies to two types of Platinum fixed-yield certificates, which differ in the frequency of interest payouts.