Vice President of the National Bank Egypt (NBE) Yehia Abou El-Fotouh said that the bank constantly supports financial inclusion, especially for the youth by offering “Future” savings account without fees and with several advantages that suit all needs.
Abou El-Fotouh added that the new saving account is free of expenses and includes free life insurance for customers, pointing out that customers from the age of 16-50 years are eligible to open the account.
The account offers a monthly return of 5.25%, a quarterly return of 5.30%, a semi-annual return of 5.35%, and an annual return of 5.50%.
The minimum amount to open the account is EGP 500, and the minimum amount to start receiving a return is EGP 3,001.
The account provides free insurance for the customer and is entitled to insurance as of the month following the date of opening with a minimum amount of EGP 5,000 and a maximum insurance amount of EGP 100,000.
The NBE Future account offers a phone cash wallet, free from issuance fees, and annual expenses for a year from the date of subscription to the wallet.
The return is calculated monthly on the lowest credit balance during the month, which is more than EGP 3000, and the return is added to the account balance according to the periodicity of its disbursement.
This comes on the occasion of financial inclusion for youth, starting August 9, for a period of two weeks.
NBE 15% certificates benefited 1,150 million customers
Financial inclusion means that every individual or institution in the community receives financial services appropriate to their needs, including saving accounts, current accounts, or payment & transfer services, insurance, financing, credit and other financial services.