Savings

Our take

The National Bank of Kuwait’s youth savings account is an attractive and convenient option for individuals aged 15 to 21, offering an easy way to foster financial independence; it requires no account-opening fees and has no minimum balance requirement, though the 5% annual return is considered moderate when measured against current inflation.

Our take

This Bedaya Account is a suitable option for customers looking for a flexible way to manage their savings in both Egyptian pounds and US dollars, with interest rates of up to 7%. It offers several benefits, including no monthly account maintenance fees, a relatively low minimum opening balance, free debit card issuance, and free registration for online and mobile banking services. Additionally, customers can earn ABK Xtra points every time they use their debit card and redeem them for purchases or cashback. However, customers should consider the minimum balance required to earn interest, as well as the maximum account balance and daily and monthly withdrawal limits, to ensure the account meets their financial needs.

The Bedaya Account offers an attractive savings opportunity with interest rates of up to 7%, easy money management, and a range of banking benefits with no monthly account maintenance fees.

Our take

The Sahla Individual Account is a suitable option for people who want to start saving easily, especially unemployed individuals and housewives. It offers easy account opening using only a national ID card, no account opening or monthly maintenance fees, daily interest payments, and a free debit card. It also provides free online and mobile banking services and a rewards program for purchases. However, the interest rate ranges from 5% to 7%, which is relatively low compared to some other savings options. Additionally, there is a minimum balance required to earn interest and a maximum account balance limit. Overall, the account is suitable for customers seeking a simple and flexible way to save and manage their money, but it may not be the best option for those looking for higher returns.

The Sahla Individual Account offers a daily interest rate of 5%–7%, easy account opening using a national ID, no opening or monthly fees, and a free debit card.

Our take

ADCB Egypt's Financial Inclusion Account offers an annual interest rate of 9.5%, paid annually, with no account-opening fees or minimum balance requirement. It also provides a free debit card and complimentary access to digital banking services. Customers can open sub-accounts in foreign currencies and may qualify for certain credit facilities, subject to the applicable terms. However, the maximum balance limit of EGP 500,000, along with daily and monthly withdrawal limits, may make the account less suitable for customers looking to save larger amounts or conduct high-value transactions.

A financial inclusion savings account offering 9.5% annual interest, no opening fees or minimum balance, and free digital banking services.

Our take

The Monthly Savings Account for Individuals from ADCB Egypt is an ideal choice for customers looking to begin saving moderate amounts while benefiting from monthly interest earnings and high liquidity. The account features a relatively low minimum balance—10,000 EGP—required both to open the account and to begin earning interest. It also offers a range of digital banking services, making it easy to manage funds and track transactions around the clock.

A monthly savings account with a minimum balance of EGP 10,000, offering flexibility and comprehensive digital banking services.

Our take

The Private Daily Current Account for ADCB Egypt’s "Excellency" clients offers a combination of daily liquidity and competitive returns. It provides an annual yield of up to 7.75%, calculated and paid out on a daily basis. This account is designed for clients who seek the flexibility of a current account while earning daily income on their balances, in addition to enjoying exclusive benefits and services reserved for Excellency clients.

A current account offering a daily yield of up to 7.75%, designed for Excellency clients who seek both liquidity and returns.

Our take

The Private Daily Current Account for Excellency Plus clients at ADCB Egypt offers a combination of daily liquidity and a competitive return, providing an annual yield of up to 7.75%, calculated and paid out daily. This account is designed for clients who seek the flexibility of a current account while earning a daily return on their balances, in addition to enjoying exclusive benefits and services reserved for Excellency clients.

A current account offering a daily yield of up to 7.75%, designed for Excellency Plus clients who seek both liquidity and returns.

Our take

The Step-Up Financial Inclusion Savings Account from Housing and Development Bank offers accessible banking services, with waived account-opening and periodic fees, free mobile banking, and a free debit card for first-time issuance. Its annual interest rate increases with the balance, reaching 4% for balances above EGP 100,000 and up to EGP 1 million. However, the returns remain relatively modest, and the published tiers do not specify the rate applicable to balances exceeding EGP 1 million.

A financial inclusion savings account with no minimum opening balance, fee waivers, and a tiered annual return of up to 4%.

Our take

The "Grant Savings Account" (Hesab Al-Minha) from the Egyptian Arab Land Bank is a savings and investment tool designed for guardians who wish to secure their children's future. It offers a fixed annual return of 15.25%, paid out on a monthly basis. While it provides an opportunity to build a savings fund for children, the account’s terms impose certain financial requirements—specifically, a relatively high minimum balance threshold (10,000 EGP) to qualify for interest, as well as account-opening fees that are notably high.

Our take

Banque du Caire’s Waffar Savings Account is a suitable option for customers looking to start saving with small amounts. It can be opened free of charge with no minimum opening balance and offers an annual interest rate of 6%, starting from a balance of EGP 1 and calculated on the lowest balance during the month, with a maximum balance of EGP 1 million. Other benefits include eligibility from age 15 without a guardian, a free Meeza debit card, online and mobile banking, and ATM deposits and withdrawals. However, the account imposes balance and transaction limits and does not offer a checkbook, which may make it less suitable for customers with more complex banking needs or high-value transactions.

A savings account offering 6% interest from a balance of EGP 1, with free account opening and a Meeza debit card.

Our take

The MINT Savings Account is designed specifically for young people, offering a convenient way to save and earn a progressive interest rate paid monthly. The interest rate reaches up to 4% per annum for account balances of EGP 50,000 or more, compared to 3.5% for balances below EGP 50,000. Interest is calculated based on the lowest credit balance in the account. The account also provides 24/7 access through ATM networks, with no fees for account opening, debit card issuance, or account maintenance, making it an attractive option for encouraging young people to develop saving habits and manage their finances conveniently.

The MINT Savings Account offers young customers monthly interest rates of up to 4% annually, with free account opening, debit card issuance, and account maintenance.

Our take

The Egyptian Gulf Bank offers a Tiered Savings Account with interest rates of up to 5% annually for monthly payouts and Up To 5.5% annually for quarterly payouts, depending on the account balance tier. Interest is calculated based on the lowest credit balance in the account. Customers can access their funds 24/7 through Egyptian Gulf Bank ATMs or any ATM operating on the 123 network, locally and internationally.

The Egyptian Gulf Bank offers a Tiered Savings Account with annual interest rates of up to 5% for monthly payouts and Up to 5.5% for quarterly payouts, calculated on the lowest credit balance, with 24/7 ATM access locally and internationally.