Free investment account in local and foreign currencies

Free investment account in local and foreign currencies

This account consists of three-month investment deposits that are renewable automatically. These deposits may be in Egyptian pounds or in any foreign currency according to the following system:

  • Minimum opening balance is EGP 5000, USD 1000, SAR 5000 or GBP 1000.
  • Cash deposits and remittances received shall not be less than EGP1000,USD500 or SAR2000or GBP 250), provided that the balance of accounts shall not be less than the previous item.
  • The tenor of investment deposit is three months. The return is calculated from the beginning of the month following the month of deposit. It is possible to withdraw and deposit at any time.
  • The accrued return on the account is paid following the end of every quarter of the financial year of the Bank and is credited to either the current account or the investment account of the depositor based on written request only after the accrued quarterly return exceed the minimum limit of the deposit. In case of withdrawals from the investment account before the end of the quarter, no return is calculated on the amount withdrawn during the quarter period in which the withdrawal has been made.
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