SAIB offers individual customers the Excellence certificate, which lets them invest their savings for 3 years at a fixed annual interest rate of up to 18.25%, with a choice of monthly or semi-annual payout to suit their needs.

SAIB Excellence certificate details

  • Tenor: 3 years.

  • Eligibility: individual (natural-person) customers.

  • Minimum purchase: EGP 500,000.

  • Payout frequency: monthly or semi-annual.

  • Interest calculation: starts the day after the certificate is purchased.

  • Renewal: the certificate does not renew automatically at maturity.

Excellence certificate interest rates

The fixed annual interest rate on the certificate is:

  • 18% a year with monthly payout.

  • 18.25% a year with semi-annual payout.

Excellence certificate features

  • A fixed return for the full tenor, based on the chosen payout frequency.

  • Choice of monthly or semi-annual payout.

  • Loans can be taken against the certificate in the same currency, subject to the bank's credit policy.

  • The certificate's principal is credited to the customer's account at maturity or redemption, unless the certificate is pledged as collateral for credit facilities.

Excellence certificate early redemption terms

The certificate cannot be redeemed before 6 months from its issue date. If it is redeemed after 6 months, the interest is recalculated retroactively according to the bank's redemption schedule.

The redemption schedule is as follows:

  • After 6 months and up to 1 year: 9.25% deduction.

  • During the second year: 9.20% deduction.

  • During the third year: 9.15% deduction.

Partial redemption of the certificate is not allowed.

Worked example: investing EGP 500,000

When investing the minimum of EGP 500,000 in the Excellence certificate, customers can choose the payout frequency that suits their needs.

  • Monthly payout

Choosing the fixed rate of 18% a year with monthly payout gives the customer about EGP 7,500 a month.

Total interest over a year thus comes to about EGP 90,000, based on the announced rate.

  • Semi-annual payout

Choosing the fixed rate of 18.25% a year with semi-annual payout gives the customer about EGP 45,625 every 6 months.

Total interest over a year thus comes to about EGP 91,250, based on the announced rate.