aiBANK Launches the Upfront-Interest Time Deposit with an Advance Return of Up to 15%
تاريخ النشر: 6th, September 2023 GMT
aiBANK، a leading provider of integrated retail، corporate، and Islamic banking solutions in Egypt، announced the launch of the upfront-interest time deposit with a return of up to 15%، paid in advance with a minimum deposit requirement of 500،000 Egyptian pounds and its multiples without a maximum limit.
This step has been made as part of the bank's strategy to provide diverse banking services and offer the latest services and products in the Egyptian banking market، including short-term deposits that meet the needs of customers who wish to invest their money for short periods. These time deposits have the following privileges: availability for both individuals and juridical persons، receiving interest in advance on the same day، the possibility of borrowing against the deposit subject to terms and conditions، and a competitive interest rate based on the duration of the deposit.
Sherif Nada، Chief of Retail and Branches Network at aiBANK، stated that the bank is striving to maximize the benefits for its customers. This upfront-interest time deposit has been designed with the aim of paying the full interest upon depositing of the funds، allowing customers to benefit from the interest in advance and avoid any changes in rates amid current local and global challenges. This is part of aiBANK's commitment to satisfying its customers by providing exceptional and competitive services، as well as utilizing cutting-edge tech that enhances our performance and enables us to elevate the quality of our banking services.
Moreover، Mohamed Abdel Monsef، Head of Retail Products Development at aiBANK، added that the bank aims to acquire a larger market share in the banking industry as part of its efforts to expand in Egypt and align with the latest developments in the dynamic banking sector. This is achieved through the introduction of new banking products targeting different segments of individuals and corporations. For example، aiBANK has issued Egyptian Pound certificates for a period of three years with an annual return of up to 18%، available exclusively for individual customers. Additionally، US Dollar certificates have been launched for a three-year period with an annual return of up to 5.30%. Furthermore، the bank has introduced the Savings Plus account with a monthly return of up to 15%.
aiBANK operates through a wide network of 33 branches across Egypt. The bank continues its efforts to expand and open new branches in Cairo، the Delta region، and Upper Egypt in the near future، with the aim of providing banking services to a larger number of customers in all areas. Moreover، aiBANK is working on expanding its ATM network to cover most vital locations، aiming to provide easy access and convenient availability for customers at any time and place.
This follows the signing of a long-term partnership agreement with Visa to provide customers with a new integrated package of e-payment solutions and a comprehensive range of innovative products and services tailored to modern digital payment preferences. aiBANK also launched aiPremier Elite، a new segment offering tailored for high-net-worth clients، representing an exclusive package of unique benefits and services. Additionally، the bank announced its partnership with InstaPay this year، enabling customers to instantly transfer funds between bank accounts، cards، and digital wallets using their mobile phones، reaffirming the bank's commitment to enhancing digital payment solutions and promoting a cashless society.
المصدر: بوابة الفجر
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The initiative focuses on educating clients about financial tools، such as cash flow management cards and insurance products that mitigate future risks، offering personalized consulting services، and promoting digital payment solutions. Participants will gain insights into cash flow management، budgeting، risk assessment، and the advantages of modern payment methods.
It will also provide practical tips for optimizing costs and maximizing project revenues، supporting clients in enhancing their businesses' profitability and sustainability. This positions Tanmeyah as a leader in financial empowerment، equipping individuals—particularly small business owners and entrepreneurs—with the knowledge and tools necessary to thrive and make informed decisions for their ventures.
Jinu Johnson، CEO and Managing Director of Tanmeyah، said، “We are thrilled to announce the launch of our mobile branch initiative، showcasing our unwavering commitment to reaching and empowering small business owners across the country، fostering financial resistance and security. We truly believe in the transformative power of young entrepreneurs who are set to fuel Egypt’s future forward. By equipping them with the financial knowledge and resources they need، we are not just helping them realize their dreams، we are building a foundation for vibrant، resilient communities. This initiative reflects our belief that when we invest in our youth، we invest in a brighter tomorrow for all.”
The mobile branch initiative is designed to enhance financial literacy، promote financial inclusion، and improve customer service management. By providing accessible financial education and support، the initiative aims to empower small business owners to make informed financial decisions، manage their finances effectively، and build sustainable businesses.
Launched in 2009، Tanmeyah has grown to become Egypt’s premier financial services provider for microfinance enterprises، providing a range of financing solutions tailored to meet client needs، build businesses، and drive socioeconomic change. With the widest branch network in the country، deep industry knowledge، and community ties، Tanmeyah has improved lives and built businesses of millions across the country. Tanmeyah has issued over three million financing facilities of various types and sizes. It currently serves more than 30،000 new clients monthly through its network of nearly 350 branches and more than 5،000 employees in 25 governorates.
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