Housing & Development Bank (HDB) offers a range of savings certificates in Egyptian pounds and foreign currencies for customers looking to invest their savings at fixed or floating interest rates, with a choice of payout frequencies and the option of redeeming the certificate after 6 months under the bank's terms.

In this report, Banky reviews the details of 5 savings certificates offered by HDB: the Diamond certificate, the Diamond Plus certificate, the floating-rate certificate, the Golden USD certificate and the Exclusive EUR certificate.

1. HDB Diamond Certificate

The Diamond certificate lets customers invest in Egyptian pounds for 3 years, with a choice of payout frequency to suit their needs.

Diamond certificate details:

  • Tenor: 3 years.

  • Currency: Egyptian pound.

  • Minimum purchase: EGP 1,000 and multiples thereof.

  • Interest rate, monthly payout: 17.50% a year.

  • Interest rate, quarterly payout: 17.75% a year.

  • Interest rate, semi-annual payout: 17.80% a year.

  • Interest rate, annual payout: 17.85% a year.

  • Early redemption: After 6 months from the purchase date, under the bank's terms.

2. Diamond Plus Certificate

HDB offers the Diamond Plus certificate at a fixed interest rate for 3 years, with a choice of monthly or annual payout.

Diamond Plus certificate details:

  • Tenor: 3 years.

  • Currency: Egyptian pound.

  • Minimum purchase: EGP 250,000, in multiples of EGP 10,000.

  • Interest rate, monthly payout: 17.75% a year.

  • Interest rate, annual payout: 18% a year.

  • Early redemption: After 6 months from the purchase date, under the bank's terms.

  • Credit facilities: Available against the certificate, in line with the bank's policy.

3. Floating-Rate Certificate

HDB offers a 3-year certificate with a floating interest rate linked to the CBE's overnight deposit (corridor) rate, with the rate varying by payout frequency.

Certificate details:

  • Tenor: 3 years.

  • Currency: Egyptian pound.

  • Minimum purchase: EGP 500.

  • Interest rate, daily payout: 19%.

  • Interest rate, monthly payout: 19.25%.

  • Interest rate, quarterly payout: 19.30%.

  • Interest rate, semi-annual payout: 19.35%.

  • Minimum interest rate: 17.25%.

  • Early redemption: After 6 months from the purchase date, under the bank's terms.

The rate changes in line with the corridor rate, so customers are advised to check the bank's latest published rates before buying.

4. Golden USD Certificate

The Golden USD certificate lets customers save in US dollars for 3 years and receive periodic interest in foreign currency.

Golden USD certificate details:

  • Tenor: 3 years.

  • Currency: US dollar.

  • Eligibility: Individuals.

  • Minimum purchase: USD 1,000 and multiples thereof.

  • Interest rate, monthly payout: 3.85%.

  • Interest rate, quarterly payout: 4.05%.

  • Early redemption: After 6 months from the purchase date, under the bank's terms.

5. EUR Certificate

HDB offers the Exclusive certificate in euros to individuals and companies for 3 years, with monthly or quarterly payout.

EUR certificate details:

  • Tenor: 3 years.

  • Currency: Euro.

  • Eligibility: Individuals and companies.

  • Minimum purchase: EUR 1,000 and multiples thereof.

  • Interest rate, monthly payout: 0.75%.

  • Interest rate, quarterly payout: 1%.

  • Early redemption: After 6 months from the purchase date, under the bank's terms.

  • Credit facilities: Up to 85% of the certificate's value, under the bank's terms.

Banky's View

HDB's certificates span the Egyptian pound and foreign currencies, giving customers several options depending on the size of their savings and their needs. The choice depends on payout frequency, minimum purchase and whether the customer prefers a fixed or floating rate; customers should review the bank's published terms and rates before deciding to buy.