The National Bank of Egypt (NBE) provides a life insurance savings certificate “Aman El Masryeen” with an interest return of 13% annually, where the value of the monthly insurance premium can be paid from the return of the certificate.
The certificate is issued with a minimum purchase of EGP 500 and its multiples, and with a maximum value of EGP 2500. The period of the certificate is three years, starting from the next business day of the purchase.
It is provided to ordinary individuals from the age of 18 to 59 years. Moreover, Loans and credit cards are not issued with the certificate.
The certificate can be recovered in full at any time from the date of purchase without committing to a 6-month period, provided that this value is added to the customer on a prepaid card or mobile wallet.
It also offers a quarterly drawing of 200 prizes, amounting to 10,000 EGP for each prize “tax free”, and can be purchased with the phone Cash wallets.
In addition, entities can purchase the certificate for the benefit of its employees, provided that it is not refundable within a period of 6 years from the date of purchase.
The certificate is issued by the Misr Insurance Company in cooperation with four Egyptian banks, including NBE, and aims to provide insurance coverage for the marginalized groups, upon President Abdel Fattah El-Sisi’s directives.