The Economy website lists the advantages and steps of obtaining a “Bidaya” savings account from CIB.
The easiest on-boarding process with Bedaya savings account, A much easier onboarding process offered to Egyptians (new to bank only) with no income proof, no opening fees and no minimum balance.
The ideal banking solution for people who want a hassle-free, accessible, and simple way of managing finances.
| Account Features | |
|---|---|
| Interest Rates | Monthly rate at 3.00% starting at EGP 1 |
| Internet/Mobile Banking/E-Statement | Mandatory |
| Debit Transaction and Account Balance Limits | Applied |
*A fee of EGP 100 is deducted from the account for some in-branch teller transactions (e.g.: cash withdrawal/deposit, internal & external transfers, credit card settlement) regardless of the transaction amount.
| Fees and Charges | |
|---|---|
| Opening balance | Zero |
| Opening fees | Zero |
| Minimum balance | No minimum balance required |
| Monthly subscription | EGP 5 per month |
| In-branch fees* | EGP 100 per visit |
| Debit card issuance fees** | Free |
If the daily or monthly debit transaction or account balance limit is breached, your account will be suspended, and the following will be required:
You will have to visit your nearest CIB branch within 30 days to avoid account closure.
Upon visiting the branch, you will only need to fill out a full KYC (personal information application) and provide income proof, then the account will be changed to Easy savings account.
Required Documents
National ID
Utility bill (only in the case that the customer chooses an address other than the ID address)
