A man counts Egyptian pound banknotes at a currency exchange shop in downtown Cairo. AFP
The National Bank of Egypt (NBE) increased the interest rate for its ‘Platinum’ Certificate of Deposit (CD), now a fixed annual return of 17.75 percent, up from 17.25 percent, with monthly payouts over three years, starting Wednesday, according to the bank’s CEO, Mohamed El-Etreby.
The certificate is available starting from EGP 1,000 and multiples thereof across all bank branches and mobile applications.
There is also a quarterly payout option for this CD, with an annual yield of 17.85 percent.
El-Etreby also confirmed that a new CD will be launched with a current annual return of 19.5 percent paid monthly over three years. The CD’s rate is calculated based on the Central Bank of Egypt’s overnight deposit rate, adding 0.50 percent, with a minimum rate of 17 percent.
Additionally, the United Bank has launched a CD with an annual fixed rate of 7.5 percent, with monthly payouts over five years. The CD has a minimum of EGP 750 and multiples thereof.
This certificate is available for individuals and can be redeemed six months after its purchase date. Customers can also obtain a credit facility secured by up to 90 percent of the CD’s value.
Egyptian banks are expanding their range of Egyptian pound-denominated savings certificates, offering higher returns and introducing new products as lenders compete to attract household savings amid persistent inflation and evolving interest rate expectations.
The latest moves come as savers increasingly seek investment vehicles that preserve purchasing power while providing stable returns, prompting both state-owned and private lenders to broaden their deposit offerings.
The latest wave of savings products comes as Egypt's macroeconomic environment shows signs of stabilization, prompting banks to reposition their deposit offerings while households continue searching for inflation-resistant savings instruments.
Annual headline inflation eased to 13 percent in May 2026 from 13.4 percent in April and 16.5 percent a year earlier, although consumer prices continued to rise by 1.4 percent monthly.
Meanwhile, the Egyptian pound has remained broadly stable against the US dollar, trading at around EGP 49.80 for buying and EGP 49.94 for selling.
At its latest meeting, the Central Bank of Egypt's Monetary Policy Committee (MPC) left key policy interest rates unchanged, citing persistent external risks, regional geopolitical tensions, and uncertainty surrounding the inflation outlook. Markets are now awaiting the committee's next policy meeting on 9 July for further signals on the future path of interest rates.
The improving macroeconomic backdrop has also coincided with renewed investment activity. Earlier this month, Egypt Midar for Investment and Urban Development signed a partnership worth more than $3.1 billion with UAE-based Majid Al Futtaim to develop a mixed-use urban project in New Cairo, underscoring continued investor interest in the Egyptian market.
Banks across the sector have responded to the changing environment by expanding their range of local-currency savings products.
State-owned Banque Misr recently raised the annual return on its three-year Al Qimma certificate to 17.75 percent from 17.25 percent, with monthly payouts. The lender also offers a three-year variable-return certificate with an average annual yield of 19.96 percent, alongside several other variable-return certificates with minimum annual returns of 17.50 percent over three years, 16.75 percent over four years, and 16.25 percent over five years.
International lenders have also adjusted their offerings.
Emirates NBD Egypt introduced a three-year certificate offering a fixed monthly return of 17.5 percent, equivalent to an annual return of 15.5 percent, with a minimum subscription of EGP 500,000.
Meanwhile, SAIB Bank increased the annual return on its Prime Variable certificate to 19 percent with daily payouts, up from 18 percent, and to 19.5 percent with monthly payouts, compared with 18.5 percent previously. The certificate is available from EGP 1,000 through the bank's branches and digital channels.
The expansion of savings certificates across the banking sector reflects growing competition for local-currency deposits as lenders adapt to changing inflation dynamics and monetary policy expectations while offering households a broader range of savings options.
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