With the maturity of 25% CDs approaching, will banks offer up new savings pots?

he term for the high-yield certificates of deposits from the National Bank of Egypt and Banque Misr offered this January will expire on January 2024 at an interest rate of 22.5 percent for a monthly exchange period and 25 percent at the end of the specified period of one year only.

The two banks collected proceeds from these CDs of around LE460 billion.

By adding the return, the value of the liquidity expected to be released may reach about LE575 billion.

Owners are interested in the best ways to employ them, and whether public banks will tend to offer CDs with higher returns in retaining this money.

They also wonder if they will satisfied with their current savings pots, some of which offer a variable return of up to 22 percent.