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.
