The Commercial International Bank (CIB) has raised the interest rate on the triple option certificate of deposits to 22 percent for the monthly interest disbursement period.
Official data from the bank revealed that the minimum amount to purchase the certificate will start at five million LE and in multiples of LE1,000.
The CIB offers certificates with a variable return in Egyptian pounds, for a period of three years, with a minimum purchase of LE3,000 and in multiples of LE1,000.
According to the CIB, interest rates change depending on the deposit and discount rates announced by the Central Bank of Egypt.
If the return is due on a weekend or an official holiday, the holiday days are added to the days of the month in calculating the return and the settlement is made in the last addition to the return when the certificate is due.
The bank offers other triple option certificates with a return of 21 percent, with a minimum of one million pounds.
The bank offers a certificate starting from LE100,000 and in multiples of LE 1,000, with a return of 20 percent per month.