National Bank of Kuwait – Egypt (NBK Egypt) offers Trio 3-year certificates of deposit, which pay customers a declining annual interest rate of up to 21% in the first year, with interest paid monthly over a 3-year term.

Trio certificates pay a declining rate over the life of the certificate: 21% in the first year, 16.75% in the second year and 12.75% in the third year.

Features of the Trio 3-year certificates of deposit

NBK Egypt's Trio 3-year certificates of deposit come with a number of features, including:

  • A declining annual interest rate throughout the certificate's term.

  • Monthly payout.

  • The option to apply for a personal loan and credit cards of up to 90% of the certificate's value, subject to the applicable terms and conditions.

  • An NBK debit card.

  • Access to NBK internet banking.

  • Access to the NBK customer service centre 24/7.

  • Minimum purchase: EGP 10,000.

  • Purchase multiples: EGP 1,000

Interest rates on Trio certificates of deposit

Interest on Trio certificates of deposit is paid monthly, at the following annual rates:

  • 21% in the first year.

  • 16.75% in the second year.

  • 12.75% in the third year.

Worked example

For an investment of EGP 500,000 in Trio 3-year certificates of deposit, the monthly and annual returns are as follows:

  • Year 1: at 21%, the annual return is EGP 105,000, equal to EGP 8,750 a month.

  • Year 2: at 16.75%, the annual return is EGP 83,750, equal to about EGP 6,979.17 a month.

  • Year 3: at 12.75%, the annual return is EGP 63,750, equal to EGP 5,312.50 a month.

The total return on EGP 500,000 over the three years therefore comes to EGP 252,500 at the published rates, with the certificate's principal of EGP 500,000 remaining intact.