Savings

Our take

The 'Start Savings Account' from Alexandria Bank provides a very easy entry point for small savers and young people to start saving with an almost negligible minimum, but the 8% return is considered low compared to current inflation rates and competing savings options in the market.

Our take

The 'Regular Savings Account' from Alexandria Bank is a traditional savings option that offers easy daily transactions and the ability to open an account with a small amount, but the long withdrawal periods and almost zero financial return completely reduce its investment value.

Our take

The Alexandria Bank pensions savings account offers an easy option for people with fixed incomes since you can open the account and receive monthly interest starting from just 3,000 EGP. However, the low interest rate, which ranges between 2% and 3%, makes it not very worthwhile as a savings tool to keep up with inflation compared to other options available in the market.

Our take

The 'Tawfeer Plus' account from Alexandria Bank offers a balanced savings option with a monthly tiered return based on the account balance, making it a good choice for people with medium to high amounts who are looking for regular liquidity. However, the high minimum requirement to earn interest makes it less attractive for small savers.

Our take

The 'Electronic Savings Account' is a flexible option for small savers who want to start investing with small amounts without dealing with high account-opening limits. However, the announced returns (between 4.5% and 5.25%) are still relatively modest compared to current market standards for inflation and competing savings options.

Our take

The Alexandria Bank 'Start Today' current account is great for anyone looking for daily liquidity and a competitive return on medium amounts, with no account opening fees and simple terms.

Our take

The 'Ultra Savings' account from Alexandria Bank offers a flexible investment option that gives the customer a monthly return with a tiered interest system, but it mainly targets high-value amounts.

Our take

This account is meant for employees of organizations that have contracts with the bank. It offers a fixed return of 4.5% on balances and is mainly a service option to make payroll payments and daily management easier, not for investment.

Our take

This current account is a special option for high-balance holders who want the flexibility of daily withdrawals and deposits, with a tiered return starting from 100,000 pounds. However, the announced interest rates are considered very low compared to current market rates.

Our take

The account is great for someone looking for quick cash flow and a flexible savings account for daily transactions with a very low minimum, but it's not suitable as a savings or investment vehicle for those who want to earn a strong return on their savings.

Our take

The premium savings account offers a cautious way to hold money with a steady daily return that's good for small amounts, but it lacks investment competitiveness compared to the high returns in the banking sector.

Our take

The Wafa Current Account is a local-currency current account for individuals, offering daily interest paid monthly based on balance tiers. The interest rate ranges from 0% to 7%, increasing with the account balance. The minimum opening balance is EGP 10,000, with the option to issue a cheque book and a debit card. The account is subject to account opening fees, monthly administrative fees, and fees for balances falling below the minimum requirement.

The Wafa Current Account is an EGP current account for individuals, offering daily interest paid monthly of up to 7%, with a debit card and cheque book option.