Arab Finance: Societe Arabe Internationale De Banque (SAIB) has increased the fixed interest rate on its three-year Prime Fixed savings certificate and introduced a new daily payout option in line with its strategy to enhance savings offerings for individual customers, according to an emailed press release.

The lender raised the annual return on the certificate to 17.75% with monthly interest payments, compared to the previous 17% monthly rate. It has also launched a daily payout option offering an annual return of 17.25%.

SAIB noted that the certificate is issued for a three-year term, with a minimum purchase of EGP 1,000, and is available in denominations of EGP 1,000 and multiples thereof, which makes it accessible to a broad customer base.

Customers can access financing and credit facilities secured by the certificate in accordance with the bank's applicable policies. The certificate can also be redeemed after six months from the date of issuance, subject to the regulated terms and conditions.

The adjusted returns reflect the bank's commitment to offering a diversified range of banking products that help customers maximize returns on their savings while reinforcing the bank's competitive position in Egypt's banking sector.

In May, the EGX-listed bank launched 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.