National Bank of Kuwait – Egypt (NBK Egypt) offers a time deposit with interest paid upfront, letting customers receive the interest at the start of the deposit term. Customers can choose a suitable tenor from 3 months up to one year, with a minimum deposit of EGP 100,000.

Details of the NBK upfront-interest deposit:

The deposit's features and details are as follows:

  • Minimum deposit: EGP 100,000.

  • Currency: Egyptian pound only.

  • Available tenors: 3 months, 6 months and 12 months.

  • Interest: paid upfront at the start of the deposit term.

  • Credit facility: a credit facility of up to 75% of the deposit amount is available.

  • Eligible customers: Egyptians and non-Egyptians aged 21 and over.

  • SMS service: customers can subscribe to the SMS service on request.

  • Customer service: available 24/7 on 19336.

  • If the deposit is broken before maturity, the full interest paid upfront and credited to the customer's account when the deposit was booked is deducted.

Interest rates on the NBK deposit:

National Bank of Kuwait – Egypt offers different interest rates depending on the deposit tenor:

  • 12% for 3 months.

  • 13% for 6 months.

  • 14% for 12 months.

Example: investing EGP 1 million in the NBK deposit:

If you invest EGP 1,000,000 in the NBK upfront-interest deposit for 3 months at 12% a year, the interest is calculated as follows:

1,000,000 × 12% × 3 ÷ 12 = EGP 30,000, paid to the customer upfront at the start of the deposit term.

If you invest EGP 1,000,000 for 6 months at 13% a year, the total interest is:

1,000,000 × 13% × 6 ÷ 12 = EGP 65,000, paid to the customer upfront when the deposit is booked.

If you invest EGP 1,000,000 for 12 months at 14% a year, the total interest reaches EGP 140,000, paid to the customer upfront at the start of the deposit term.

Banky's view for customers:

The National Bank of Kuwait – Egypt upfront-interest deposit is a good option for customers who want to receive their investment return upfront, with a choice of 3-, 6- or 12-month tenors and access to a credit facility of up to 75% of the deposit amount.