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Banque Misr Launches the Triple Certificate of Variable Monthly Returns
Banque Misr recently launched a new savings product designated the “triple certificate of variable monthly returns” in its continued pursuit to develop existing and new savings products that fulfil the needs of customers. The triple certificate is issued to natural persons for a period of three years and is non-renewable, with its value starting at five hundred Egyptian Pounds and its multiples. It is considered the first savings certificate of variable monthly returns at the CONIA rate, which is the weighted average over night interest rate for transactions between banks in Cairo and the inter-bank market.
The certificate will come into force the following day after it is purchased and its monthly revenue is automatically credited to the customer’s current or savings account. Customers are able to access the revenues via debit cards and may purchase the certificate at any of the Bank’s branches – numbering more than 700 throughout the governorates of Egypt – or through BM Online. Customers may also retrieve the certificate after 6 months, subject to the applicable deductions and may use it as collateral for loans.
The Bank’s offering of this certificate comes in line with its extensive marketing plans aiming to attract new customers, while boosting its market share and fulfilling customer requirements. Banque Misr has keenly sought to render products and services that provide the best quality and utilize cutting-edge banking technologies.
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