Lender SAIB has announced that it is raising the interest rate on its Flexi Save savings account for individuals to 18% a year, paid monthly, for customers with balances of EGP 200 million or more. The rate is set according to the lowest balance in the account during the month.

The minimum to open a Flexi Save account is EGP 20,000, while interest starts accruing from EGP 15,000, with tiered rates that rise as the account balance grows.

Interest rates on the Flexi Save account:

Account holders at SAIB earn a tiered interest rate on the Flexi Save account, based on the lowest balance in the account during the month, as follows:

  • Below EGP 15,000: 0.00%

  • EGP 15,000 to EGP 149,999.99: 13.50%

  • EGP 150,000 to EGP 499,999.99: 14.50%

  • EGP 500,000 to EGP 999,999.99: 15.00%

  • EGP 1,000,000 to EGP 1,499,999.99: 15.50%

  • EGP 1,500,000 to EGP 4,999,999.99: 16.00%

  • EGP 5,000,000 to EGP 9,999,999.99: 17.00%

  • EGP 10,000,000 to EGP 99,999,999.99: 17.25%

  • EGP 100,000,000 to EGP 199,999,999.99: 17.50%

  • EGP 200,000,000 and above: 18.00%

Features of the Flexi Save account from SAIB

  • The account is available to individual customers only.

  • The minimum to open the account is EGP 20,000.

  • Annual interest rate, paid monthly.

  • Interest is calculated on the lowest balance in the account during the month.

  • The minimum balance to earn interest is EGP 15,000.

  • Cash deposits and withdrawals at any branch or through ATMs.

  • A debit card can be issued on the account.

  • Account inquiries and a range of banking transactions through internet banking.

The Flexi Save account from SAIB gives customers a tiered monthly return, with the interest rate rising as the balance grows to reach 18% a year for the top tier. It offers a suitable savings option for customers who want a regular return while keeping access to their money.