Financial accessibility, courtesy of CIB: No discussion about tech or innovation would be complete without a look at financial accessibility. Here, CIB is leading the way, developing products that make life a little bit easier, like its new upfront time deposit. You probably know that a time deposit is an interest-earning deposit that matures within a specified period. CIB’s new time deposit targets customers — individuals or companies — who are in need of cash for a particular payment, but also want to maintain their capital and avoid losing liquidity.

The upfront time deposit offers a range of features, including the opportunity to receive interest payments on the day it is booked, tenors that range from 1 week to 12 months, the chance to receive assets worth up to 75% of the principal amount of the upfront time deposit, and both declared and preferential rates (subject to approval). It is offered in local currency (EGP). So whether you need to make a downpayment on a car, buy a machine for your factory, pay a school or utility bill, or perform any number of essential payments that can spring up without warning, CIB’s new upfront time deposit is designed to offer you a little more breathing space.

For more information, call 19666 or visit the CIB website or your nearest branch.