Progressive Savings Account (Financial Inclusion) — Housing and Development Bank | Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

BANKY NOW 2 Nov 2026
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Progressive Savings Account (Financial Inclusion)

Housing and Development Bank · Savings · Egyptian Pound · 2.0 · Tuesday 27 October 2026 - 04:43 PM

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

Interest rate
4%
Min. opening deposit
EGP 0
Monthly fee
EGP 0

Banky Analysis

Suits you if

  • I want to start with a small amount
  • I want an account with banking features
    • More banking features than average

Not for you if

  • Grow my savings the most
    • Net yield after fees lower than average

What's good

  • No maintenance fees

All of this is measured against products in EGP only

Last checked Monday 02 November 2026 - 04:02 PM

Returns

Interest type
Fixed
Base rate
4%
Max rate
4%
Payout
Compounded monthly
Rate tiers
  1. EGP 2,000 – EGP 10,000
    3%
  2. EGP 10,001 – EGP 100,000
    3.5%
  3. EGP 100,001 – EGP 1,000,000
    4%

Balance & withdrawals

Min opening deposit
EGP 0
Min balance for interest
EGP 2,000
Max withdrawals/mo
300000
Overdraft allowed
No

Fees

Opening fee
EGP 0
Monthly fee
EGP 0
Quarterly fee
EGP 0
Below-minimum fee
EGP 0

Features & requirements

Debit card
Yes
Online banking
Yes
Mobile banking
Yes
Joint account
No
Minor account
No
For women
No
For pensioners
No

Do the maths

Progressive Savings Account (Financial Inclusion)

See how regular monthly deposits grow your balance over time.

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Results are estimates for guidance only and may differ from a bank's actual offer.

Our take 2.0

2.0 Banky rating

Pros

  • The account can be opened without a minimum balance or opening fees and offers free digital banking, waivers on periodic fees and account statements, and higher interest rates as the balance increases.

Cons

  • The return is low compared to other savings alternatives.

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%.

Compare

Alternatives at a glance
Progressive Savings Account (Financial Inclusion) Housing and Development Bank This one Current account with daily interest Emirates NBD saving account MID BANK Everyday Savers CIB Egypt
Interest rate
4% 3% – 18% 2.75% – 8.75% 2% – 10%
Min. opening deposit
EGP 0 EGP 50K EGP 2,000 EGP 20K
Monthly fee
EGP 0 EGP 0 EGP 0 EGP 0
Compare with 3 similar savings

Added Tuesday 27 October 2026 - 04:37 PM Updated Tuesday 27 October 2026 - 04:43 PM