{"id":648248,"date":"2017-05-31T03:57:25","date_gmt":"2017-05-31T03:57:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/31\/cib-raises-interest-rates-on-short-term-deposit-certificates\/"},"modified":"2017-05-31T03:57:25","modified_gmt":"2017-05-31T03:57:25","slug":"cib-raises-interest-rates-on-short-term-deposit-certificates","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/31\/cib-raises-interest-rates-on-short-term-deposit-certificates\/","title":{"rendered":"CIB raises interest rates on short-term deposit certificates"},"content":{"rendered":"

CIB has raised interest rates on short-term certificates of deposit by 100 bps to 3.5% for one week CDs and 11.5% for one-year CDs, according to Al Borsa<\/a>. Interest rates on savings accounts and personal loans remain unchanged. Several banks, including BLOM Bank and the National Bank of Egypt, had announced changes to their interest<\/a> rates in the last few days in response to the CBE\u2019s decision to hike overnight lending and deposit rates by 200 bps last week<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

CIB has raised interest rates on short-term certificates of deposit by 100 bps to 3.5% for one week CDs and 11.5% for one-year CDs, according to Al Borsa. Interest rates on savings accounts and personal loans remain unchanged. Several banks, including BLOM Bank and the National Bank of Egypt, had announced changes to their interest […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9298],"tags":[2372,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-648248","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking-finance","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"df456f68-f08e-4ea4-80ba-4d83141799ce","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[648211],"teaser":"","voice_url":""},"yoast_head":"\nCIB raises interest rates on short-term deposit certificates - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/31\/cib-raises-interest-rates-on-short-term-deposit-certificates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIB raises interest rates on short-term deposit certificates\" \/>\n<meta property=\"og:description\" content=\"CIB has raised interest rates on short-term certificates of deposit by 100 bps to 3.5% for one week CDs and 11.5% for one-year CDs, according to Al Borsa. Interest rates on savings accounts and personal loans remain unchanged. Several banks, including BLOM Bank and the National Bank of Egypt, had announced changes to their interest […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/31\/cib-raises-interest-rates-on-short-term-deposit-certificates\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-31T03:57:25+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/31\/cib-raises-interest-rates-on-short-term-deposit-certificates\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/31\/cib-raises-interest-rates-on-short-term-deposit-certificates\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"CIB raises interest rates on short-term deposit certificates\",\"datePublished\":\"2017-05-31T03:57:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/31\/cib-raises-interest-rates-on-short-term-deposit-certificates\/\"},\"wordCount\":84,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"BANKING + FINANCE\",\"EnterpriseAM\"],\"articleSection\":[\"Banking + Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/31\/cib-raises-interest-rates-on-short-term-deposit-certificates\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/31\/cib-raises-interest-rates-on-short-term-deposit-certificates\/\",\"name\":\"CIB raises interest rates on short-term deposit certificates - 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Variable interest savings accounts will also now carry interest rates ranging from 3.75% to 11%, after the bank issued a 75-200\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":646292,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/11\/nbe-hikes-interest-rates-on-cds-and-savings-accounts\/","url_meta":{"origin":648248,"position":1},"title":"NBE hikes interest rates on CDs and savings accounts","author":"enterpriseam admin","date":"11 June 2017","format":false,"excerpt":"The National Bank of Egypt (NBE) raised interest rates on its short-term certificates of deposit by 100 bps to 7.5% for one-week CDs and 100 bps for the longest-term under one year, Al Borsa said on Saturday. Rates on savings accounts have also increased by 60-75 bps.","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648092,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/28\/banque-misr-blom-bank-raise-interest-rates\/","url_meta":{"origin":648248,"position":2},"title":"Banque Misr, Blom Bank raise interest rates","author":"enterpriseam admin","date":"28 May 2017","format":false,"excerpt":"Banque Misr and Blom Bank have raised interest rates on loans and certificates of deposit following the CBE\u2019s decision to hike rates by 200 bps last week, Al Shorouk reports. Blom Bank increased interest on short-term CDs by a maximum of 200 bps, and is studying doing the same for\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651767,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/","url_meta":{"origin":648248,"position":3},"title":"Banks begin reducing rates on high-yield CDs","author":"enterpriseam admin","date":"20 February 2017","format":false,"excerpt":"A number of banks have scrapped their high-yield certificates of deposit and began repricing them at rates 100-300bps lower than the ones offered in November after the EGP flotation, Al Borsa reported. Only National Bank of Egypt and Banque Misr have kept their products\u2019 interest rates at 20%, with sources\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":629883,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/03\/private-sector-banks-begin-lowering-interest-rates-in-response-to-cbes-latest-rate-cut\/","url_meta":{"origin":648248,"position":4},"title":"Private sector banks begin lowering interest rates in response to CBE\u2019s latest rate cut","author":"enterpriseam admin","date":"3 April 2018","format":false,"excerpt":"Private sector banks have begun lowering rates and scrapping high-yielding CDs in response to the CBE\u2019s decision last Thursday to slash key interest rates by 100 bps, according to Al Mal. CIB slashed rates on its savings accounts and certificates by 100-125 bps and QNB Al Ahli-Egypt also docked 50\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":630205,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/15\/state-owned-banks-scrap-high-yielding-cds-introduce-new-variable-interest-certificates\/","url_meta":{"origin":648248,"position":5},"title":"State-owned banks scrap high-yielding CDs, introduce new variable interest certificates","author":"enterpriseam admin","date":"15 April 2018","format":false,"excerpt":"The country\u2019s largest state-owned banks have decided to scrap their high-yielding certificates of deposits two weeks after the central bank cut key interest rates by 100 bps. 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