Nasser Social Bank is offering a range of banking benefits and services for senior citizens in October to mark the International Day for Older Persons, according to a statement released by the Ministry of Social Solidarity on Thursday.
Egypt’s Minister of Social Solidarity Maya Morsy said seniors will be exempt from administrative and account-opening fees for all bank transactions throughout October.
The measure aims to ease access to banking services and products and recognise their contributions to society.
The bank will also offer the “Rad El Gamil” certificate with competitive returns, providing seniors with different options for the term of the certificate and the frequency of return payments.
Nasser Social Bank Vice Chairman Walid El-Nahas said the bank is committed to providing banking products that meet the needs of different groups, with special attention to seniors.
He said the new certificate gives them greater flexibility in managing their savings.
The certificate is available for one year, with an annual return of 17.50% or a monthly return of 16.50%.
For three-year certificates, the annual return is 18.25%, while the monthly return is 16.75%.
The certificate starts at EGP1,000 and multiples thereof, with a maximum value of EGP2 million.
The bank said the options are designed to allow senior customers to choose the term and payment schedule that best suit their financial needs.
