Is the return on a savings account fixed or variable? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

Is the return on a savings account fixed or variable?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

The return is variable, and it is subject to the decisions of the bank's Asset and Liability Committee (ALCO) and to the direction of the Central Bank of Egypt (CBE) on interest rates.

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