National Bank of Kuwait – Egypt (NBK Egypt) offers a range of fixed time deposits that let customers choose a tenor to suit their needs, from one week up to one year. They offer a competitive return paid at the end of the deposit's term, as well as access to a credit facility of up to 90% of the deposit's value.

Fixed time deposits from National Bank of Kuwait – Egypt:

Key details of the EGP fixed time deposits are as follows:

  • 1 week: minimum EGP 200,000, annual interest rate 5.50%.

  • 2 weeks: minimum EGP 200,000, annual interest rate 5.50%.

  • 3 weeks: minimum EGP 200,000, annual interest rate 5.50%.

  • 1 month: minimum EGP 5,000, annual interest rate 6%.

  • 2 months: minimum EGP 5,000, annual interest rate 6%.

  • 3 months: minimum EGP 5,000, annual interest rate 6.50%.

  • 6 months: minimum EGP 5,000, annual interest rate 5.50%.

  • 9 months: minimum EGP 5,000, annual interest rate 5.50%.

  • 1 year: minimum EGP 5,000, annual interest rate 6.50%.

  • Deposits are also available in foreign currencies — US dollar, pound sterling and euro — with a minimum of USD 1,000 or the equivalent in sterling or euros, and the available tenors vary by currency.

Example of an EGP 1 million deposit at National Bank of Kuwait – Egypt:

  • An EGP 1,000,000 deposit for 1 week at an annual rate of 5.50% earns about EGP 1,055 at maturity.

  • An EGP 1,000,000 deposit for 2 weeks at an annual rate of 5.50% earns about EGP 2,110.

  • An EGP 1,000,000 deposit for 3 weeks at an annual rate of 5.50% earns about EGP 3,164.

  • An EGP 1,000,000 deposit for 1 month at an annual rate of 6% earns about EGP 4,932.

  • An EGP 1,000,000 deposit for 2 months at an annual rate of 6% earns about EGP 9,863.

  • An EGP 1,000,000 deposit for 3 months at an annual rate of 6.50% earns about EGP 16,027.

  • An EGP 1,000,000 deposit for 6 months at an annual rate of 5.50% earns about EGP 27,123.

  • An EGP 1,000,000 deposit for 9 months at an annual rate of 5.50% earns about EGP 40,685.

  • An EGP 1,000,000 deposit for 1 year at an annual rate of 6.50% earns EGP 65,000, bringing the total to EGP 1,065,000 at maturity.

Banky's view for customers:

National Bank of Kuwait – Egypt's time deposits give customers a variety of choices in tenor and minimum deposit to suit different needs, with returns of up to 6.50% a year on some tenors. Fixed time deposits also offer a credit facility of up to 90% of the deposit's value, giving customers more flexibility to make use of their savings while keeping the deposit.