Hatem Amer, Managing Director of Al-Ahly Mortgage Finance, a subsidiary of the National Bank of Egypt (NBE), announced that the company aims to achieve exceptional growth in its financing portfolio, targeting a total of EGP 4bn by the end of 2024.

According to Amer, the company successfully issued over EGP 2bn in new mortgage finance in 2024. This was achieved through a variety of Programmes designed to finance residential, administrative, and commercial units, catering to the diverse needs of mortgage finance customers in Egypt.

He explained that these specialized Programmes were key to attracting new customer segments, including Egyptians working abroad, residents in Egypt with foreign income sources, and regional and multinational companies seeking to acquire administrative properties. These successes were driven by thorough studies of the real estate market and its evolving demands.

Al-Ahly Mortgage Finance was also recognized with the “Most Innovative Company in Egypt for 2024” award by International Business Magazine, a prestigious institution specializing in market analysis and financial sector evaluations.

Amer emphasized that this award is a reflection of the company’s leadership and position in Egypt’s mortgage finance sector, as well as its dedication to providing the best possible experience for its customers.

He further highlighted that the company achieved these results despite significant challenges in the Egyptian market, including ongoing fluctuations in exchange rates, high inflation, and rising real estate prices across various sectors. The company’s resilience, he said, was key to its success, enabling it to launch innovative solutions that addressed these challenges, with full support from NBE, the largest Egyptian bank.

The Federal Reserve cut its target rate three times in late 2024, which means savings interest rates are falling. So it’s important to be sure you’re getting the best rate possible when shopping around for a savings account. The following is a breakdown of savings interest rates today and where to find the best offers.

The national average savings account rate stands at 0.42%, according to the FDIC. This might not seem like much, but consider that three years ago, it was just 0.06%.

Although the national average savings interest rate is fairly low compared to other types of accounts (such as CDs) and investments, the best savings rates on the market today are much higher. In fact, some of the top accounts are currently offering 4% APY and higher.

Today, the highest savings account rate available from our partners today is 4.30% APY. This rate is offered by BMO Alto and there is no minimum opening deposit required.

Here is a look at some of the best savings rates available today from our verified partners:

Related: 10 best high-yield savings accounts today>>

The amount of interest you can earn from a savings account depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (savings account interest typically compounds daily).

Say you put $1,000 in a savings account at the average interest rate of 0.42% with daily compounding. At the end of one year, your balance would grow to $1,004.21 — your initial $1,000 deposit, plus just $4.21 in interest.

Now let’s say you choose a high-yield savings account that offers 4% APY instead. In this case, your balance would grow to $1,040.81 over the same period, which includes $40.81 in interest.

The more you deposit in a savings account, the more you stand to earn. If we took our same example of a high-yield savings account at 4% APY, but deposit $10,000, your total balance after one year would be $10,408.08, meaning you’d earn $408.08 in interest. ​​

Read more: What is a good savings account rate?