The Arab African International Bank (AAIB) has launched a new triple savings certificate for individual customers, offering a cumulative interest rate of 18.17%, with 65% of the interest paid at the end of the certificate’s term. The certificate is available in all branches of the bank starting from 1 October 2023.
The bank said that the minimum amount to buy a certificate is EGP 5,000 for new customers and EGP 1,000 for existing customers. The certificate allows customers to redeem it after six months of issuance, with a deduction of 7%, 6%, or 5% from the cumulative interest if the certificate is redeemed in the first, second, or third year, respectively. The certificate is not renewable after maturity.
The bank also said that it recently introduced a package of smart investment solutions for its clients, including a triple prepaid savings certificate in pounds with a 40% interest rate, and a “Golden Plus” savings account in pounds with an interest rate of up to 20%.
