Banque Misr, NBE to offer saving new 15% yield certificates electronically

Banque Misr and the National Bank of Egypt (NBE) offer new saving certificates with 15% annual yield. The two banks limited the certificate purchase to electronic channels to ensure the safety of customers and employees amid the spread of the Coronavirus.

“In order to preserve the safety of our citizens and employees, certificates will be available only through the bank’s electronic channels, which include mobile and internet banking, call centre, and e-mail,” said Mohamed El-Etreby, chairperson of Banque Misr.

Banque Misr added in a statement that the bank’s current customers wishing to purchase the new certificate can pay for it from their accounts.

The bank’s hotline is 19888 and e-mail address is ebnmisr@banquemisr.com. Clients would receive an SMS to confirm the purchase.

Banque Misr said that for new customers, transfers can be made from any bank the client deals with through providing the bank account number. Baqnue Misr added that the aim of transfers is purchasing the “Ibn Masr” certificates and attaching the national ID and mobile number, as no transfers will be accepted without the required data. The client will then be sent a message the next day to confirm the purchase.

Banque Misr stressed that it will not accept any cash deposits to purchase these certificates, therefore, there is no need for customers to go to the branches.

As for NBE, it explained that in the case of clients going to branches to buy a new certificate, the percentage of clients allowed to be present at a branch will not exceed 50% of the seat capacity.

The NBE also confirmed the availability of purchasing the certificates through internet banking, mobile banking, and call centre 19623. Clients can also give their instructions via the phone to the branch account manager to purchase certificates while at home.

According to a statement by the bank, these preventive measures taken by the bank aim to ensure the safety of both the clients and employees, in line with the state’s trend to reduce crowding in various places to prevent spread of viruses.

Both NBE and Banque Misr stressed that these certificates will be available for long periods.