Banks in Egypt offer 3-year savings certificates in US dollars with annual returns paid monthly, letting customers invest their foreign-currency savings and earn a regular income. In this report, Banky reviews the top 10 3-year USD savings certificates with an annual return paid monthly, ranked from highest to lowest, setting out each certificate's interest rate and minimum purchase amount.

Details of the top 10 3-year USD certificates with monthly payouts

1. Arab African International Bank

  • Tenor: 3 years.

  • Annual interest rate: 4.8%.

  • Payout frequency: Monthly.

  • Minimum purchase: USD 5,000.

2. Bank ABC Egypt

  • Tenor: 3 years.

  • Annual interest rate: 4.75%.

  • Payout frequency: Monthly.

  • Minimum purchase: USD 500.

3. The United Bank

  • Tenor: 3 years.

  • Annual interest rate: 4.75%.

  • Payout frequency: Monthly.

  • Minimum purchase: USD 1,000.

4. Banque Misr

  • Tenor: 3 years.

  • Annual interest rate: 4.75%.

  • Payout frequency: Monthly.

  • Minimum purchase: USD 100.

  • Rate type: Fixed for the full tenor of the certificate.

5. CIB

  • Tenor: 3 years.

  • Annual interest rate: 4.50%.

  • Payout frequency: Monthly.

  • Minimum purchase: USD 1,000.

6. Kuwait Finance House – Egypt

  • Tenor: 3 years.

  • Expected annual profit rate: 4.50%.

  • Payout frequency: Monthly.

  • Minimum issue amount: USD 1,000.

7. The United Bank

  • Tenor: 3 years.

  • Annual interest rate: 4.3%.

  • Payout frequency: Monthly.

  • Minimum purchase: USD 500.

8. QNB Egypt

  • Tenor: 3 years.

  • Annual interest rate: 4.25%.

  • Payout frequency: Monthly.

  • Minimum purchase: USD 1,000.

9. Suez Canal Bank

  • Tenor: 3 years.

  • Annual interest rate: 4.25%.

  • Payout frequency: Monthly.

  • Minimum purchase: USD 100.

10. Bank NXT

  • Tenor: 3 years.

  • Annual interest rate: 4.15%.

  • Payout frequency: Monthly.

  • Minimum purchase: USD 500.

Example return on the top USD certificate at 4.8%

Arab African International Bank's 3-year USD certificate tops the list with the highest annual return of 4.8%, according to the rates in this report.

  • Investing USD 100,000: The annual return is USD 4,800, or USD 400 a month.

  • Investing USD 10,000: The annual return is USD 480, or USD 40 a month.

  • Banks offering the same return

  • 4.75% a year: Bank ABC Egypt, The United Bank (Raghad certificate) and Banque Misr.

  • 4.50% a year: CIB Egypt and Kuwait Finance House – Egypt, noting that the return on Kuwait Finance House – Egypt's Al Tharwa certificate is an expected rate.

4.25% a year: QNB Egypt and Suez Canal Bank.

Why do investors prefer USD certificates with monthly payouts?

  • Regular income in dollars: The certificates pay a monthly return, helping customers manage their foreign-currency cash flows.

  • A fixed return: Fixed-rate certificates let customers know the value of their return in advance, based on the certificate's rate and the bank's terms.

  • Diversifying savings: USD certificates help customers keep part of their savings in foreign currency.

  • Varied minimum purchase amounts: Minimums vary between banks, giving customers options that suit the size of their savings.

  • A defined investment period: The three-year tenor provides a clear timeframe for the investment, though early redemption terms should be reviewed.

Banky's tips before buying USD certificates

  • Compare interest rates and minimum purchase amounts across banks, and don't rely on the highest return alone.

Check the payout frequency, and whether the return is fixed, expected or floating.

Review the early redemption terms, including when redemption is allowed and any deductions that may apply.

Check whether you can borrow against the certificate, and the available financing ratio and its terms.

Consider your foreign-currency needs and obligations: a high return does not necessarily mean the certificate is the best fit for every customer.