Arab Finance: Societe Arabe Internationale De Banque’s (SAIB) has introduced two new three-year savings certificates in Egyptian pounds, namely Excellence and Prime, as part of its strategy to offer diversified savings products with competitive returns tailored to individual customers, as per an emailed press release.
The bank said the Excellence certificate offers a fixed annual return of 17.25% with monthly payouts, or 17.5% with semi-annual payouts. The certificate requires a minimum purchase amount of EGP 1.5 million, with denominations starting from EGP 1,000 and multiples thereof.
Meanwhile, the Prime certificate provides a fixed annual return of 17% paid monthly, or 17.25% paid semi-annually, with a minimum purchase amount starting from EGP 1,000 and multiples thereof.
According to the bank, both certificates are available through its network of 46 branches across Egypt.
The bank also confirmed that customers can obtain loans secured by the certificates in line with its internal policies. In addition, the certificates can be redeemed after six months from the issuance date, subject to the applicable terms and conditions.
