Interest bearing current account that offers higher interest rates on higher outstanding credit balances, segregated in a tiered manner
Earn a higher interest rate once you reach the higher tier/trench and vice versa.
Eligible to all clients under Retail SME's / business banking segment.
Available in EGP only.
Interest calculated on monthly basis.
Pay Credit Cards and/or Bancassurance premiums.
Receive/issue transfers in local currency.
Facility for making standing instructions on their accounts.
Access the account using Online Banking.
Get quarterly statements.
Terms and conditions
Minimum Balance for Account Opening & Interest Calculation is EGP 10,000.
Trench in EGP vs Interest Rate
0 - 10K
10K - 250 K
250 K - 1 M
1M - 5 M
5 M and Above
Interest is calculated daily based on the end of day closing balance provided that the balance does not fall below EGP 10,000 during the whole month.
If the balance of the day falls below EGP 10,000 no interest will be calculated/paid for this day, however interest will be calculated / paid for the rest of the month if the balance maintains above EGP 10,000 per day.
Interest calculation for the month will be based on the summation of the interest amount pertaining to the closing balance of each day.
Interest rate will differ based on the trench EOD balance.
Upgrading & Downgrading
Clients can move across the different trenches as clarified in the example above.
Interest Calculation Method
End of day balance * Interest Rate *1/365 or 1/366 ( in case of a leap year)
Interest of each day is accrued separately and total interest is credited to client account on monthly basis