Egypt’s Nasser Social Bank increases Day to Day cumulative yield to 19% – Minister

Egypt’s Nasser Social Bank’s increased the Day to Day account’s cumulative yield to 19 per cent, the Egyptian Cabinet stated on Sunday.

The bank’s Board Chairman, Nevine El-Kabbaj, who doubles as Minister of Social Solidarity, stated that the bank raised also the returns on all investment certificates.

Additionally, the bank increased the yield of ‘Return the Favour’ saving certificate’s for the elderly to 24.25 per cent annually for 3 years and 22.25 per cent monthly, offering flexibility in interest payment periods.

Mohamed Abdel Fadil, First Deputy Chairman of the bank highlighted the bank’s efforts to build trust and financial awareness in the Egyptian banking market.

He explained that the bank offers a certificate with a cumulative return of 25 per cent for a period of 3 years and a cumulative return of 24 per cent for a period of 18 months. It also continues to offer a savings certificate for a period of 3 years with a return rate of 24 per cent annually and a return of 22.50 per cent quarterly and 22 pr cent monthly.