The Commercial International Bank (CIB)-Egypt has raised the upward return of the savings account in the Egyptian pound to reach 12.5% annually, as part of the bank’s commitment to providing a diverse package of innovative and developed banking products to meet the needs of its clients.
According to a report issued by the bank, the new savings account is characterised by a variety in the cycle of return calculation, to be on a daily, monthly, or quarterly basis.
The daily upward return is calculated and is then added monthly to the client’s account, whereas the monthly and quarterly returns are calculated on the least monthly credit, and the return is added either monthly or quarterly based on the client’s request.
To encourage clients to increase their savings, the bank provides a higher return with the increase of the savings. It also provides several advantages, including a free steel safe, in addition to insurance advantages such as on tuition and homes.
This offering by the CIB reflects its efforts to support financial inclusion in the Egyptian society. The new savings account contributes to attracting new segments that do not deal with banks to invest their savings and enjoy different banking products.