3 Years Certificate of Deposit in EGP at fixed interest rate
Offered to entities/companies & juristic persons
Offered to all entities under the Retail SME’s segment or under Commercial & Corporate Business Lines
10.50% p.a. interest credited to the client account on Monthly basis
Company can borrow up to maximum of 95% of certificate value in the form of loan with fixed instalments - in accordance with the applicable rules at the time of borrowing- margin to be not less than 2% p.a. over the applied interest rate
Company can borrow up to maximum of 90% of certificate value in the form of OVD or credit card.
Certificate minimum amount of EGP 10,000
Full redemption is allowed only after 6 Months from issuance date Redemption table is as follows:
3 Year Certificate of Deposit
From 6 M – 1 Yr.
1 Yr. – 2 Yrs.
2 Yrs. – 3 Yrs.
Complete Duration 3Yrs.
Interest Calculation Method
Interest payable is calculated on the actual number days elapsed between each two consecutive interest payment dates and a year consisting of 360 days interest will be calculated along the below equation
(Value of certificate × interest rate % × no of days ) ÷ 360 Days
A deposit contract, with the conditions stated on the certificate
The certificate is nominal (i.e. non-negotiable, non-transferable & non-endorsable)
The certificate is not renewable and tax exempted
Value of certificate and/or its proceeds will be paid to the company or its representative upon written instructions.
The terms & conditions are approved by the CBE, and stated in each CD issued
As per CBE instruction, CD’s offered to companies are subject to 10% reserve held at CBE.
Interest begins on the next day of certificate purchase
The final maturity date of the certificate is three years from purchasing date.
If maturity date falls in a holiday, then the maturity date shall be on the business day before
Collection Unit (Retail or Corporate) has to monitor the facilities granted against certificate of deposits, escalating