Following the decision by the Central Bank of Egypt's Monetary Policy Committee to raise key interest rates by 100 basis points, customers are increasingly interested in the interest rates on floating-rate savings certificates, whose rates move with changes in interest rates according to each bank's pricing mechanism.

The 3-year floating-rate savings certificates offered by banks operating in Egypt vary in interest rate, minimum purchase and payout frequency.

Against this backdrop, Banky lists the top 10 3-year floating-rate savings certificates with quarterly interest following the CBE meeting, with rates of up to 21% per annum, according to the data in the list.

1- 3-year floating-rate certificate from National Bank of Kuwait – Egypt (NBK Egypt)

  • Interest rate: 21% per annum.

  • Minimum purchase: EGP 100,000.

2- NXT Edge certificate from Bank NXT

  • Interest rate: 21% per annum.

  • Minimum purchase: EGP 50,000.

3- 3-year floating-rate certificate from Industrial Development Bank

  • Interest rate: 20.75% per annum.

  • Minimum purchase: EGP 100.

4- 3-year certificate from Housing & Development Bank (HDB)

  • Interest rate: 20.3% per annum.

  • Minimum purchase: EGP 500.

5- 3-year floating-rate certificate from MIDBANK

  • Interest rate: 20.25% per annum.

  • Minimum purchase: EGP 1,000.

6- 3-year floating-rate certificate from QNB Egypt

  • Interest rate: 20% per annum.

  • Minimum purchase: EGP 1,000.

7- Al Khair 3-year certificate from Kuwait Finance House (KFH) Egypt

  • Profit rate: 20% per annum.

  • Minimum purchase: EGP 5,000.

8- Emerald certificate from Arab African International Bank (AAIB)

  • Interest rate: 20% per annum.

  • Minimum purchase: EGP 5,000.

9- Tharwa certificate from Bank NXT

  • Interest rate: 20% per annum.

  • Minimum purchase: EGP 10,000.

10- 3-year floating-rate certificate from Al Ahli Bank of Kuwait – Egypt (ABK-Egypt)

  • Interest rate: 20% per annum.

  • Minimum purchase: EGP 1,000.