| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
ALEXBANK - Alex Auto with Salary Transfer
|
Minimum Salary: EGP 1,000 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 7 Years | Flat Rate: 7.22% | Reducing Rate: 13.0% |
Features & Benefits:
If you borrow EGP 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual profit rate of 4.6% you would pay:
Payment per month – EGP 297.50 | Total charge for credit – EGP 710 | Total amount you repay – EGP 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
- Offered to Egyptian Individuals working in the governmental, public and private sectors with an official undertaking letter signed by the employer
- Extended repayment up to 7 years
- Competitive interest rate and charges
- Minimum loan amount EGP 15,000 and maximum EGP 1 Million
- Down payment starting from only 10%
- Pre-approved Credit Card & Overdraft limits
- No guarantor required
- Free life insurance
- Minimum salary starting from EGP 700 for all governorates and EGP 1000 for residence of Greater Cairo & Alexandria
- Salary is transferred to your ALEXBANK account
- Customers age is between 21 years and 60 years and up to 65 years for professors & counselors
- Completed application form
- Copy of National ID
- Recent salary certificate letter
- Recent telephone, electricity or gas utility bill (maximum 3 months old)
- Salary transfer declaration
- Price quotation
If you borrow EGP 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual profit rate of 4.6% you would pay:
Payment per month – EGP 297.50 | Total charge for credit – EGP 710 | Total amount you repay – EGP 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest flat rate on the product. This is not the APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
