MIDBANK has launched the “MID Plus” savings certificate, offering individuals a secure investment option with a variable annual return of up to 19.65% paid monthly or up to 19.5% paid daily, with a guaranteed minimum return of 17%. The certificate has a three-year tenor.
The launch comes as part of the bank’s strategy to offer innovative financial solutions that cater to the diverse needs of individual customers. It also reflects MIDBANK’s commitment to promoting a culture of savings and supporting customers’ financial stability through banking products designed in line with market developments, evolving customer needs, and best banking practices.
“MIDBANK believes in its role in promoting a savings culture and supporting individuals’ financial stability by providing flexible banking solutions that combine attractive returns with access to liquidity when needed, alongside innovative products that keep pace with market developments and customers’ diverse needs,” said Adel Gomaa, Deputy CEO for Retail Banking at MIDBANK.
He added that the new certificate reflects the bank’s vision of serving as a trusted banking partner that consistently delivers genuine added value to its customers.
Mahmoud Gamal, Head of Retail Banking at MIDBANK, said the bank remains committed to developing a diversified range of savings products tailored to the different needs and financial goals of its customers. He noted that the new certificate provides a highly competitive and flexible return over a three-year investment period.
Returns on the certificate are calculated from the business day following the purchase date. It is issued in denominations of EGP 1,000 and multiples thereof, with a minimum subscription amount of EGP 100,000. The certificate is available to both Egyptian and foreign individual customers.
MIDBANK allows customers to redeem the certificate after six months from the date of purchase. In the event of early redemption, a percentage of the applicable return will be deducted according to the redemption schedule.
The bank also enables customers to borrow up to 95% of the certificate’s value at a competitive interest rate, in addition to the applicable banking fees, providing greater financial flexibility. All financing and redemption facilities remain subject to the bank’s terms and conditions.
MIDBANK continues to expand its presence in the Egyptian market by increasing its branch and ATM network while introducing new banking products and services. The bank is also implementing its strategy to advance digital transformation and promote financial inclusion in line with Egypt Vision 2030.
