Banque Misr Announces Interest Rate Reduction on “Al Qimma” and “Elite” USD Certificates

Banque Misr has announced a 0.5% decrease in the interest rate on its three-year USD savings certificates “Al Qimma” and “Elite.” The new rates will be effective starting Monday, March 17, 2025, and will apply only to new certificates issued on or after this date.

• The annual interest rate for the “Al Qimma” certificate is now 7.5% instead of 8%.

• The annual interest rate for the “Elite” certificate has decreased to 5.5% instead of 6%.

Al Qimma Certificate:

• A registered USD certificate issued to Egyptians and foreigners.

• Issued in denominations starting from $1,000 USD and multiples thereof.

• The interest is paid in advance in EGP for the entire three-year term at a cumulative rate of 22.5%.

• The certificate is issued the next working day after the deposit.

• Redeemable in USD according to the bank’s terms and conditions.

Elite Certificate:

• Also a registered USD certificate issued in the same denominations.

• Interest is paid quarterly in USD.

• The holder can borrow in EGP up to 50% of the certificate’s equivalent value, with a maximum of EGP 10 million.

• Redeemable in USD under the same terms.

Purchase & Redemption:

• Certificates are available via:

  • The bank’s website.

  • BM Online (internet and mobile banking).

  • Bank branches in Egypt and abroad.

  • ATM machines.

• Certificates may be redeemed after 6 months from the date of issuance according to the applicable early redemption rules