United Bank Egypt raises deposit rates to 21.5%

The most lucrative option is a time deposit with interest paid at maturity, offered for terms of 12 to 18 months and yielding up to 21.5% over the full period. United Bank also introduced advance-paid deposits that return up to 18.5% for the term, monthly-paying deposits at up to 17%, and daily-interest savings accounts that can reach 17% depending on balance tiers.

The lineup also includes a three-year variable-rate certificate paying as much as 19.5%, along with the “Tameez” certificate, which offers up to 17.25% daily or 18% monthly. A sharia-compliant “Namaa” certificate pays up to 17.5% daily or 17.75% monthly, and the bank says customers can borrow against the products and redeem them after six months under the stated terms.

For investors, the key issue is whether this kind of pricing supports deposit growth without forcing a broader margin reset across the banking sector. If competitors match the rates, banks may win liquidity but give up profitability; if they do not, United Bank could gain market share among rate-sensitive savers.

The move lands against a backdrop of uneven deposit competition across the market, with some lenders raising headline rates sharply while others hold back. The next catalyst is whether the central bank’s guidance or fresh regulatory scrutiny pushes banks to temper the race for deposits.