Deposits for the Individuals & legal personalities

 

Time deposits in L.E

– The return rate is disbursed on a quarterly basis on account.
– The return rate is 10% more than the interest rate of the savings account. It is calculated at the end of the year according to the achieved results in accordance with the Islamic Shari’a.
The Deposit Term is 2 years The minimum limit is EGP 5000

The advantages:

1.The Time Deposit may be concluded at any branch of the bank’s Islamic branches.
2.The Deposit may be liquidated before its maturity date and the return may be disbursed on account for the deposit’s actual time.
3.The return may be credited to the original amount of the deposit or credited to the customer’s account ( current \ savings) upon the customer’s request .
4.Deposit may be concluded for the minors till they reach the legal age , the return is credited to the deposit or disbursed from the account ( current \ savings) upon the customer’s request.

Terms & Conditions:

1. The deposits are concluded for natural personalities and legal personalities.
2. The deposit is nominal and cannot be issued in joint names and it shall be unassignable.
3. An account (current\ savings) is opened for the customer in the Islamic branch where the deposit is concluded.
4. The cash deposits for concluding deposits in Egyptian Pound are due the next working day .
5. All the instructions issued by the customer related to the deposit shall be in a written form and signed by the customer’s signature preserved by the bank.
6. All the applicable terms and conditions at our Islamic branches are applied if the deposit is liquidated before its maturity date.

Persons entitled to conclude deposits:

•Natural personalities.
•Minors (by custodianship/guardianship).
•Legal personalities.

The required documents:

For new customers:

•A copy of the valid ID card (after reviewing the original)
•The minor’s birth certificate – The guardian’s national ID or guardianship deed, if any
•For legal personalities, the documents differ according to the type of the legal person.

For current customers:

•Customer’s data shall be verified.

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