National Bank of Kuwait – Egypt (NBK Egypt) offers fixed-rate US dollar certificates of deposit that let customers save their money and earn a fixed return throughout the certificate's term, which runs up to 3 years.

USD certificate of deposit details

  • Tenor: 3 years.

  • Currency: US dollar.

  • Minimum purchase: USD 1,000.

  • Rate type: fixed throughout the certificate's term.

  • Interest rate and payout frequency:

    • Monthly: 4% a year.

    • Quarterly: 4.50% a year.

  • Minimum certificate amount: USD 1,000

Example: investing USD 500,000

When USD 500,000 is invested in the certificate, the return varies with the chosen payout frequency:

With monthly payout at 4%:

  • Annual return: USD 20,000.

  • Monthly return: USD 1,666.67.

  • Total return over 3 years: USD 60,000.

With quarterly payout at 4.50%:

  • Annual return: USD 22,500.

  • Return every 3 months: USD 5,625.

  • Total return over 3 years: USD 67,500.

Choosing quarterly payout at 4.50% therefore yields a higher total return than monthly payout, with the certificate's principal staying at USD 500,000 throughout its term, subject to the bank's terms.

Features of USD certificates of deposit

  • A fixed return throughout the certificate's term.

  • A certificate term of 3 years.

  • The card can be used at more than 650,000 ATMs worldwide.

  • Access to online banking.

  • A 24/7 phone service on 19336