The Central Bank of Egypt (CBE) has decided to raise key interest rates by 1%, bringing the overnight deposit rate to 20%, the overnight lending rate to 21%, and the main operation rate and the credit and discount rate to 20.5%. The move aims to anchor inflation expectations and keep inflation on its downward path amid rising uncertainty and global economic challenges.

Following the rate hike decision, Banque du Caire is offering its floating-rate 3-year certificate with a variable annual interest rate and a monthly payout, along with several benefits for customers, including the option to borrow against these certificates at any of the bank's branches in accordance with the applicable instructions.

Banque du Caire floating-rate 3-year certificate

  • Interest rate: 20.5%

  • Payout frequency: monthly

  • Tenor: 3 years

  • Minimum purchase: EGP 1,000

  • Features of the Banque du Caire floating-rate 3-year certificate

  • Currency: Egyptian pound (EGP)

  • The certificate is available to individual customers only

  • Certificate denomination: EGP 1,000 and multiples thereof

  • No maximum limit on certificate issuance

  • The certificate can be issued at any of the bank's branches

  • Customers can borrow against these certificates at any of the bank's branches in accordance with the applicable instructions.

  • Early redemption of all or part of the certificate's value is possible at any time after 6 months from the certificate's issue date, according to the redemption values set by the bank

  • The certificate can be issued for minors

  • The certificate can be issued for joint accounts

  • Customers can choose the account (current or savings) to which the interest due, as well as the certificate's value at maturity, is credited.