El Mowaten Account

A cooperative saving account entitled the account holder to life insurance coverage in addition to the advantage of being granted a special credit interest rate on their savings against fixed monthly fee. Once the client open (El Mowaten account - daily IB current account)the system will generate automatically an associated account (El Mowaten restricted account- daily IB current account).

The account holder or their charity donors should deposit EGP 50 a month into EL Mowaten account to be redistributed by end of month as follows:

  • EGP 39 will be placed to El Mowaten restricted favor of the account holder, which will be capitalized on daily basis.
  • EGP11 that representing the insurance monthly premium will be transferred automatically to the insurer account held with ENPO.

Individual Egyptian only with 2 different segments:

  1. Existing and/or New to Egypt post clients (walk-in)
  2. Individual Sponsored by charities and/or any other type of Entities.
  3. Min age to open the account is 18 year
  4. Max age to open the account is 59 year
  5. Only one account is permitted for any single client

Min. opening balance &Denominations:

EGP 50 To be waived upon opening abulk file

Interest

El Mowaten account – is a daily IB current account and should be granted the rate that applied on the Silver IB current account

El Mowaten restricted account – is a daily IB current account and should be granted the rate that applied on the Gold IB current account

Check list as per the attached appendix (1)

  • Enable all ENPO’s payroll clients to access their monthly salary.
  • Issued upon client’s request and should be based on the account regularity.
  • 7esaby on line

Nil