Suez Canal Bank offers a special 6-month time deposit in Egyptian pounds with a competitive interest rate of 16%, paid upfront on the day the deposit is opened. This lets customers receive their return without waiting until the end of the investment period.

The deposit is aimed at customers who want to invest their savings for a set period and receive the return in advance.

Details of Suez Canal Bank's 6-month deposit

  • 6-month deposit with a special interest rate paid upfront.

  • Currency: Egyptian pound (EGP).

  • Tenor: 6 months.

  • Interest rate: 16%.

  • Interest paid upfront on the day the deposit is opened.

  • Minimum deposit: EGP 5 million.

Documents required to open the deposit

  • A copy of a valid national ID card for Egyptians, with the original presented.

  • A copy of the passport for resident foreigners, with the original presented.

  • A copy of the birth certificate for minors, with the original presented.

  • A recent utility bill, such as an electricity or telephone bill.

Banky's view

Suez Canal Bank's upfront-interest deposit may suit savers with large balances who prefer to receive their return at the start of the investment period rather than waiting until maturity. With a minimum of EGP 5 million, it is aimed at customers with substantial cash who want to put it to work for 6 months. Customers should check with the bank on the current opening and redemption terms.