|Minimum Salary||Salary Transfer||Early Settlement Fees||Maximum Term||Flat Rate||Reducing Rate|
|Emirates NBD - Auto Loan||Minimum Salary: EGP 10,000||Salary Transfer: Yes||Early Settlement Fees: -||Maximum Term: 7 Years||Flat Rate: 0.0%||Reducing Rate: 0.0%|
Features & Benefits:
- Finance up to 100% of the car value
- 0% admin fees and cashback
- Loan amount up to EGP 3,000,000
- Flexible loan tenor up to 84 Months
- Flexible lending conditions
- Car Sale restriction and insurance is required except for payroll customers
For Employed clients:
- Valid national ID
- HR Letter
- Bank statement in case income is above EGP 10K
- Valid utility bill
- Pro-forma invoice
** 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.