Commercial International Bank (CIB) offers a range of floating-rate savings certificates that let customers invest their savings and earn a periodic return, with payout options ranging from daily to monthly to suit different customer needs.

CIB's floating-rate certificates include a 3-year certificate with a daily floating return and another with a monthly floating return. Both start at a minimum purchase of EGP 1,000 and have a tenor of 3 years.

This follows the decision by the Central Bank of Egypt's Monetary Policy Committee to raise key interest rates by 1%, taking the overnight deposit rate to 20%, the lending rate to 21%, and the main operation rate and the credit and discount rate to 20.5%, as part of the central bank's efforts to contain inflation and anchor inflation expectations amid global economic developments.

CIB 3-Year Floating-Rate Certificate With Monthly Payout

  • Tenor: 3 years.

  • Interest rate: 20.5% per annum, floating.

  • Payout frequency: monthly.

  • Minimum purchase: EGP 1,000.

CIB 3-Year Floating-Rate Certificate With Daily Payout

  • Tenor: 3 years.

  • Interest rate: 20.25% per annum, floating.

  • Payout frequency: daily.

  • Minimum purchase: EGP 1,000.

Features of CIB's Floating-Rate Certificates

  • Full or partial redemption is available 6 months after the certificates are issued.

  • You can obtain credit facilities of up to 90% of the certificate's value.