Arab Finance: The Commercial International Bank (CIB) has trimmed the interest rates offered on its three-year certificates of deposit (CDs), according to the lender’s website.

The bank has reduced the rate offered on the three-year fixed Premium CD to 18%, instead of 20%, to be paid monthly, with a minimum purchase amount of EGP 2 million and multiples of EGP 1,000.

The three-year fixed Plus CD’s interest rate has been cut to 17.50%, instead of 19%, to be paid monthly, with a minimum purchase amount of EGP 500,000 and multiples of EGP 1,000.

Interest rates offered on CIB’s three-year fixed Prime CD have been slashed to 17%, instead of 18%, to be paid monthly, with a minimum purchase amount of EGP 50,000 and multiples of EGP 1,000.

Also, Egypt’s largest private lender has introduced again the three-year Wealth CD with a fixed monthly interest rate of 19%. The minimum booking value for purchasing the certificate is EGP 5 million and multiples of EGP 1,000.

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