Nasser Bank Issues Savings Certificates with 15.5% Return 

Social Solidarity Minister Niveen el Qabbag and Chairman of Nasser Social Bank (NSB) agreed to issue Special Savings Certificates (SSCs) for doctors and nurses under the title "Return the Favor".

The Minister said in a statement on Sunday that the issuance of this certificate aims to express deep appreciation for the efforts of Egyptian doctors and their heroic role under the current circumstances, stressing that they are the first line of defense in the face of the coronavirus crisis.

El-Qabbag added that in the framework of the bank’s keenness to pay attention to all segments of society, especially the medical one, the bank returns the favor by making the certificate available for one year with a return of 15.5% paid annually.

The minister indicated that the value of the deposit starts from EGP 1,000 and its multiples and does not exceed EGP 1 million per person.

Moreover, the return is calculated from the day of the deposit, and it can be recovered after six months from the date of issuance.

On his part, Senior Vice Chairperson and Managing Director of NSB Sharif Farouk indicated that the required papers include a copy of the national ID, the insurance number, the union card.

The certificate will be available in all the bank’s 93 branches in all governorates to prevent overcrowding for those wishing to purchase the certificate from doctors and nursing staff.

Farouk emphasized that this is not the first time that the bank has issued Special Savings Certificates (SSCs), as it previously presented a certificate with the same return for elderly (65 years of age) in order to provide them with a decent life.