Bank Audi

Certificates of Deposits - Terms and Conditions

 
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Corporate Certificate of Deposit fixed 3 years – Egyptian Pound
  • CD is renewed automatically according to the applied interest rate at the time of renewal unless client requested to not to renew before maturity.
  • The certificate is nominal and is not transferable or negotiable.
  • This certificate is granted to corporate clients only.
  • The certificate’s amount may not be fully redeemed before the lapse of 6 months from the date of its purchase. In case of redemption, a TD interest rate similar in tenor to the date of the breakage so that the deducted margin is inversely proportional to the elapsed period for the certificate.
  • Transactions on the CD, except redemption of its value, can take place through any of bank’s branches.
  • Interest is calculated from the same business day of certificate purchase.
  • Minimum CD issuance balance is 1000 and multipliers of 1000.
  • CD has a fixed interest rate that may differ according to the interest frequency.
  • A Current account can be opened with no minimum balance to add the CD interest.
  • In case of borrowing, the interest will be added to the secured overdraft account.
  • Borrowing is allowed up to 90% of the CD amount with a minimum of 2% above the CD interest rate. The bank has the right, voluntarily, to increase the difference between the interest rate applicable to the CD and the loan’s interest rate, according to any reason that would increase the lending cost and according to the decision issued by the bank and without obtaining the prior approval of the customer subject to notifying the customer by any appropriate means.
Individual Fixed Certificate of Deposit 3,4,5 years - Egyptian Pound
  • CD is renewed automatically according to the applied interest rate at the time of renewal unless client requested to not to renew before maturity.
  • The certificate is nominal and is not transferable or negotiable.
  • This certificate is granted to individuals only.
  • Transactions on the CD can take place through any of bank’s branches.
  • Interest is calculated from the same business of the certificate purchase.
  • Minimum CD issuance balance is 1000 and multipliers of 1000.
  • CD has a fixed interest rate that may differ according to the interest frequency.
  • A current account can be opened with no minimum balance to post the CD interest.
  • CD purchase can be done under minors name taking into consideration that any granted facility using CD as collateral will follow the Bank's terms and conditions.
  • Borrowing is allowed up to 90% of the CD amount with a minimum of 2% above the CD interest rate. The bank has the right, voluntarily, to increase the difference between the interest rate applicable to the CD and the loan’s interest rate, according to any reason that would increase the lending cost and according to the decision issued by the bank and without obtaining the prior approval of the customer subject to notifying the customer by any appropriate means.
  • In case of borrowing, CD Interest will added to a secured overdraft account.
  • The amount of the CD cannot be fully /partially redeemed before the lapse of 6 months from the CD purchase date. In both cases, a percentage of the interest rate applied to the CD is deducted according to the redemption schedule below.
Duration Deduction Percentage
1st year 6%
2nd year 5%
3rd year 5%
4th year 5%
5th year 5%
Individual Cumulative Certificate of Deposit 3 years – Egyptian Pound
  • CD is renewed automatically according to the applied interest rate at the time of renewal unless client requested to not to renew before maturity.
  • The certificate is nominal and is not transferable or negotiable.
  • This certificate is granted to Individuals only.
  • Transactions on the CD, except redemption of its value, can take place through any of bank’s branches.
  • Interest is calculated from the same business day of the certificate purchase
  • Minimum CD issuance balance is 1000 and multipliers of 1000
  • The CD rate is cumulative and fixed, to be increased monthly and to be disbursed at the CD maturity.
  • The certificate may not be fully redeemed before the lapse of 6 months from the date of its purchase.
  • A Current account can be opened with no minimum balance to add the CD interest at maturity.
  • A credit card can be issued up to 90% of the CD amount according to the terms and conditions declared by the bank.
  • CD purchase can be done under minors name taking into consideration that any facility granting using the CD as collateral will follow the Bank's terms and conditions.
  • Borrowing is allowed up to 85% of the CD amount with a minimum of 2% above the CD interest rate on the date of granting the loan.
  • The CD interest net value can be redeemed at any time of the CD’s tenor by applying a discount rate equal to the simple interest rate applied to the certificate + 2%.
  • The CD amount may be redeemed after 6 months from the purchase date, after recalculating the interest according to the below.
  • Breakage Penalty according to the below
    • From 7 to 12 months 3%
    • From 13 to 24 months 2%
    • From 25 to 36 months 1%
Individual Cumulative Certificate of Deposit 5 years – Egyptian Pound
  • CD is renewed automatically according to the applied interest rate at the time of renewal unless client requested to not to renew before maturity.
  • The certificate is nominal and is not transferable or negotiable.
  • This certificate is granted to Individuals only.
  • Transactions on the CD, except redemption of its value, can take place through any of bank’s branches.
  • Interest is calculated from the same business day of the certificate purchase.
  • Minimum CD issuance balance is 1000 and multipliers of 1000.
  • The CD rate is cumulative and fixed, to be increased monthly and to be disbursed at the CD maturity.
  • The certificate may not be fully redeemed before the lapse of 6 months from the date of its purchase.
  • A Current account can be opened with no minimum balance to add the CD interest at maturity.
  • A credit card can be issued up to 90% of the CD amount according to the terms and conditions declared by the bank.
  • CD purchase can be done under minors name taking into consideration that any facility granting using the CD as collateral will follow the Bank's terms and conditions.
  • Borrowing is allowed up to 85% of the CD amount with a minimum of 2% above the CD interest rate on the date of granting the loan.
  • The CD interest net value can be redeemed at any time of the CD’s tenor by applying a discount rate equal to the simple interest rate applied to the certificate + 2%.
  • The CD amount may be redeemed after 6 months from the purchase date, after recalculating the interest on the basis of a cumulative interest equal to the monthly TD interest rate on the date of issuing the certificate.
Individual floating Certificate of Deposit – Egyptian Pound
  • CD duration is 3 years.
  • The certificate is nominal and is not transferable or negotiable.
  • This certificate is granted to Individuals only.
  • CD is renewed automatically according to the applied interest rate at the time of renewal unless client requested to not to renew before maturity.
  • The certificate has a floating interest rate linked to the CBE`s overnight deposit rate minus a margin of 0.5%.
  • Interest is calculated from the same business day of the certificate purchase.
  • Transactions on the CD, except redemption of its value, can take place through any of bank’s branches.
  • Minimum CD issuance balance is 1000 and multipliers of 1000.
  • A Current account can be opened with no minimum balance to add the CD interest.
  • CD issuance can be purchased under minors name signed by the legal guardian.
  • In case of borrowing, the Interest is added to the secured overdraft account.
  • Borrowing is allowed up to 90% of CD redemption value with a minimum of 2% above the CD interest rate. The bank has the right, voluntarily, to increase the difference between the interest rate applicable to the CD and the loan’s interest rate, according to any reason that would increase the lending cost and according to the decision issued by the bank and without obtaining the prior approval of the customer subject to notifying the customer by any appropriate means.
  • The amount of the CD cannot be fully /partially redeemed before the lapse of 6 months from the CD purchase date. In both cases, a percentage of the interest rate applied to the CD is deducted according to the redemption schedule below.
Duration Deduction Percentage
1st year 6%
2nd year 5%
3rd year 5%