Monday April 22nd, 2024
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NBE Raises Interest Rates by 2% & 3% on Savings Accounts

The decision follows an earlier move by National Bank of Egypt to raise interest rates by 2% last February.

Cairo Scene

NBE Raises Interest Rates by 2% & 3% on Savings Accounts

Starting this March, National Bank of Egypt is raising the interest rates of saving accounts by 2% and 3%. The raised interest rates will apply to three types of saving accounts: Regular Saving Accounts, Pension Saving Accounts and Al Mostakbal Saving Accounts. The decision follows an earlier move to raise interest rates by 2% last February.

Options for interest rates on Regular Saving Accounts will go up from 6.5% and 9.5% to 8.5% and 12.5%. Interest rates for Pension Saving Accounts will rise from 9.5% to 12.5%. Meanwhile, Al Mostakbal Saving Accounts will rise from 6.5% and 6.75% to 8.5% and 8.75%.

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