NSB increases annual yield of senior citizens' certificate to 15.5%

CAIRO - 22 March 2020: Vice President of Nasser Social Bank (NSB) Sherif Farouk has said the bank decided to increase the annual and monthly yield of a certificate for senior citizens to 15.5 percent and 15 percent respectively.

The decision comes in light of the bank's keenness to provide a decent life for the elderly, amid the current circumstances, Farouk added in a press statement on Sunday.

The NSB is working to provide a safe coverage for pensioners, with a view to helping them face the burden of living costs and achieve financial stability, he said.

He went on to say that the value of the deposit starts from LE 1,000 and does not exceed LE 1 million per person and the return is calculated from the day after the deposit is received.