Culminate an array of innovative services and are basically targeting Egyptian and Expatriate communities living in Kuwait
Al-Watany Bank of Egypt (AWB) – a subsidiary of National Bank of Kuwait (NBK)- recently launched a new series of certificates of Deposits (CDs) for both Egyptian and Expatriates. The new CDs come with a highly competitive interest rate of up to 9% for a tenor of five years, one of the highest earning in the Egyptian market.
Commenting on the occasion, AWB Managing Director, Dr. Yasser Hassan said that the new CDs come into two categories with two different tenors; 3 years with 8.75% fixed interest rate and 5 years with 9% fixed interest rate. Customers looking to invest in the CDs will be able to choose between different tenors and interest rates as well as the interest payment frequency on a monthly, quarterly or biannually basis in addition to the ability to get a loan or credit card against the value of the CD. They can also redeem the CD value 6 months after acquisition date after fulfilling the terms of early redemption.
Dr. Hassan indicated that the launch of the CDs comes as a culmination of a series of innovative and rewarding services introduced by AWB since joining NBK Group as part of its endeavors to provide the best and most rewarding banking products and services that meet the present and future financial requirements of the Egyptian community members living in Kuwait in addition to other expatriate customers with business interest in Egypt.
"The new package of banking services launched by AWB enable all NBK customers, including Egyptian community living in Kuwait and other expatriates with business, touristic and educational interests in Egypt, to open new accounts at AWB and subscribe for the new CDs through any NBK branch worldwide" Dr. Hassan added.
"AWB offers a broad spectrum of integrated financial services that includes but not limited to saving, current and deposit accounts. AWB has a 40-branch network strategically located in the most vibrant spots across Egypt, from Cairo and Alexandria to Giza, the 6th of October, Al Mansoura, Souhaj and Sharam Al Shaikh in addition to two Sharia-compliant banking services branches", Dr. Hassan concluded.
