North Africa Bank review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
North Africa Bank suits savers in its home market who can lock a large balance for a set period, paying 5.5% to 7.5% on its deposits. The trade-off is entry size: the account needs LYD 10,000 before that rate applies, and the listed rate is variable.
Key facts
- Best for
- Park a large balance for a 3 to 12 month term and earn 5.5% to 7.5%.
- Headline rate
- 5.5% to 7.5%↗
- Rate type
- Variable↗
- Term
- 3 to 12 months↗
- Minimum deposit
- LYD 10,000↗
- Access terms
- Fully digital subscription and contract confirmation through the NAB Mobile app, no branch visit required↗
- Account kind
- Fixed↗
- Legal entity
- North Africa Bank↗
- Headquarters
- Libya↗
- Support channels
- Phone, Email, Help-centre↗
- Official website
- nab.ly
Apps and profiles
- Get the app
- App StoreGoogle Play
- Elsewhere
- LinkedInyoutube.com
Pros and cons
Pros
- Pays 5.5% to 7.5%, above 3.29% at Wise and 3.01% at bunq.
- Everything runs in the mobile app, from subscription to contract confirmation, with no branch visit needed.
- The 3 to 12 month commitment sits well below the 36 median for savings on the site.
- Help is offered by phone, email and help centre, so support does not rest on a single channel.
Cons
- The floor of LYD 10,000 puts the account out of reach for small monthly savers.
- The rate is listed as variable, so the return can shift during the 3 to 12 month term.
Who it suits
- Savers in the bank's home market, LY, who can place LYD 10,000 in a lump sum.
- Customers who bank by phone and app, since subscription and contract confirmation both run digitally.
- Anyone who can leave money for a 3 to 12 month term and accept a variable return.
Who should look elsewhere
- Savers without LYD 10,000 to place. Finteres, at 0% to 36%, is the alternative to weigh when a wide band of rates matters.
- Readers after the highest stated return. Wise, at 3.29%, and bunq, at 3.01%, are the picks to compare instead.
How North Africa Bank compares
Where North Africa Bank is available
- Available
- Libya
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What rate does North Africa Bank pay on its deposits?+
Deposits earn 5.5% to 7.5%, which sits above 3.29% at Wise and 3.01% at bunq. Finteres lists a wider band, 0% to 36%. Read the figure alongside the term you pick, because the balance stays committed for 3 to 12 months.
How much do I need to deposit to open the account?+
The minimum deposit is LYD 10,000, a sizeable sum to set aside at the start, and it rules out the habit of adding a little each month. An account with a lower entry level is the one to weigh if you contribute in smaller amounts over time.
Is the rate fixed or variable?+
The account is listed as fixed, while the rate is variable. In plain terms, the deposit runs for a set term but the rate can move, so the return at the end of the term is not guaranteed to match the figure you see today.
How do I open and manage the account?+
Subscription and contract confirmation are handled in the bank's mobile app, with no branch visit required. The provider is North Africa Bank, based in Libya, and questions can go through phone, email and help centre.
Do I get a card to use with the account?+
A debit card running on visa is listed for day to day spending. It is a debit card rather than a credit card, so it draws on the balance you already hold instead of letting you borrow against it.
How do I get help if something goes wrong?+
Support runs through phone, email and help centre, so phone, email and a help centre are the listed routes. Live chat does not appear among those channels, which matters if you would rather deal with a colleague inside the app.
Who is this deposit for?+
It suits savers in the bank's home market, LY, who can place LYD 10,000 and leave it for a 3 to 12 month term. It fits poorly if you are adding small amounts each month, or if you may need the balance back before the term ends.
Sources
- nab.ly/about-us/contact/contact-us checked September 26, 2026
Backs: Support channels
“Support and contact centre: 0912622431, 0912622432, 0912622433, 0912622443; email address listed; 24/7 customer service and technical support”
- nab.ly/about-us/nab/who-are-we checked September 26, 2026
Backs: Headquarters, Legal entity
“One of the leading commercial banks in Libya”
- nab.ly/individuals/accounts/modaraba-deposit-certificates checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type, Term
“Open your investment account and ratify your contracts via the NAB Mobile app without visiting the branch”
- nab.ly/individuals/digital-services/international-cards checked September 26, 2026
Backs: Card type, Card network
“International cards - Visa and Mastercard”
Compiled from 4 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Deposit protection.
Related by the facts
North Africa Bank
Park a large balance for a 3 to 12 month term and earn 5.5% to 7.5%.