Financial Inclusion Products
The bank offers a range of products and services specifically designed to promote financial inclusion and empower all segments of society to access suitable banking solutions tailored to their needs. These offerings aim to support unbanked individuals, micro and small business owners, women, youth, and persons with disabilities.
These efforts include bank accounts with no fees or minimum balance requirements, debit cards, e-wallet services, and accessible financing products that cater to low-income segments and individuals engaged in informal economic activities. The bank also places special emphasis on financial literacy through awareness initiatives that help raise understanding of saving principles and sound money management.
Through these initiatives, the bank strives to integrate a broader portion of society into the formal financial system—enhancing financial stability, supporting small business growth, and fostering sustainable economic development.
Targeted Categories
Youth - Women - People with disabilities - Elderly – Business owners
Additionally, the following categories are eligible to open financial inclusion accounts through simplified procedures for financial inclusion clients:
- Clients running micro-businesses, freelancers, and craftsmen who:
- Do not have a professional license, tax card, company documents, or a fixed place of business.
- Engage in economic activities that are difficult to license or prove (e.g., nannies, handicraftsmen, carpenters, electricians, farmers, etc.).
- Individual clients who are unemployed (e.g., housewives or individuals without any job or source of income).
- Non-borrower microenterprises and businesses, regardless of whether they have official activity documents or a fixed place of business.
- Youth aged 15 to under 21 are classified under the "Youth Category," where the account is fully managed by the client without adding the term "minor" to the account.
Available Products for Financial Inclusion customers (Individuals and Companies)
All savings products in Egyptian pounds and foreign currencies offered by the Industrial Development Bank to its clients, subject to maintaining the prescribed limits and adhering to the maximum monthly and daily limits in Egyptian pounds or their equivalent. These include:
- Time deposit
- Saving certificates
- Current accounts
- Saving accounts
- Debit Cards
Minimum Account Opening Balance:
No minimum balance is required to open the account.
Key Features
- Financial inclusion clients are exempted from the following fees throughout the year, without being restricted to financial inclusion campaign periods:
-
- Account opening fees
- Minimum balance commission
- Minimum amount required to open the account
- Current account service fees
- Issuance of a debit cards for accounts in Egyptian pounds
- Special card design featuring raised letters and numbers
- ATM machines equipped to serve people with disabilities, providing services tailored to various types of disabilities
- Opening contracts and bank product/service application forms are available in a simplified and clear manner
- Account opening contracts and bank product/service application forms are available in Braille language
- Several branches adapted to accommodate clients with disabilities
- Branch staff trained for effective communication with clients with disabilities
- Single window service at all branches to provide full services for people with disabilities, including cash withdrawals inside the branch without waiting.
Required Documents
Individuals:
Identity verification document (Valid national ID number)
Micro companies and enterprises:
Ownership documentation including preliminary contracts, lease agreements, official extract from the commercial register, or certified copy of the license.
Maximum monthly limit for debit transactions
Maximum Debit Transaction Limits for Financial Inclusion Individual Clients ( all equivalent to EGP) :
(cash withdrawal – outward remittances – accounting debit, etc.)
- Maximum daily limit for debit transactions (cash withdrawal – outward remittances – accounting debit, etc.) : EGP 90,000
- Maximum daily limit for debit transactions (cash withdrawal – outward remittances – accounting debit, etc.) : EGP 300,000
- Maximum account credit balance at the end of the day: EGP 5 million.
Clients from businesses and microenterprises:
Those who do not have any documents, premises or any means for verification
Those who have supporting documents or a business premises.
- Maximum daily limit for debit transactions (cash withdrawal – outward remittances – accounting debit, etc.) : EGP 120,000
- Maximum daily limit for debit transactions (cash withdrawal – outward remittances – accounting debit, etc.) : EGP 600,000
- Maximum account credit balance at the end of the day: EGP 5 million.
Those who do not have supporting documents or a business premises.
- Maximum daily limit for debit transactions (cash withdrawal – outward remittances – accounting debit, etc.) : EGP 90,000
- Maximum daily limit for debit transactions (cash withdrawal – outward remittances – accounting debit, etc.) : EGP 300,000
- Maximum account credit balance at the end of the day: EGP 5 million.
If a transaction causes the client to exceed the maximum transaction limits stated above, whether for individuals or businesses:
- The account will be put on hold (freeze account)
- Contact the client to provide the required verification documents.
- Transition from due diligence procedures for financial inclusion products and services clients to applying standard banking due diligence procedures.
For more details or inquiries, please visit the nearest branch or contact the call center at 19320.
