|Minimum Salary||Salary Transfer||Early Settlement Fees||Maximum Term||Flat Rate||Reducing Rate|
|EGBank - Car Loan||Minimum Salary: EGP 2,000||Salary Transfer: Yes||Early Settlement Fees: -||Maximum Term: 7 Years||Flat Rate: -||Reducing Rate: -|
- Finance up to 100% of car’s value
- Loan amount can reach up to EGP 1M
- Down payment receipt or to be deposited in our bank
- Copy of National ID
- Car Price Quotation
- Recent utility bill (within three months)
- Proof of income
- Payroll/ Salary/ Installment Transfer Customers: Customer’s company agreement to transfer salary/ installment
- Non Salary / Installment Transfer Customers: Authenticated HR letter or HR letter & 3 months bank statement
- Self-employed/Professional Customers: valid tax card & last 6 months bank statement in addition to copy of recent & valid commercial register for self-employed or certificate of profession, valid syndicate ID, & medical institution license for professionals
- Minimum age is 21 years and maximum age is 60 years and could reach up to 65 years for self-employed and professionals
** 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.