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Sunday, 13 November 2016

QNB Al Ahli, CIB, United Bank offering high-interest rate CDs

Private banks are following the lead of state-owned ones in offering high-yield savings products. QNB Al Ahli has started offering 18-month certificates of deposit carrying an interest rate of 20% and three-year ones carrying 16%, Al Mal reports. CIB also announced its own line of high-interest products with an 18-month certificate that could pay up to 19% and a three-year one paying up to 16.5%. United Bank of Egypt issued variable-interest three-year CDs paying 20% in the first year and 16% in the second and third years, payable quarterly.

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