| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
|
|
Minimum Salary: EGP 0 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 7 Years | Flat Rate: 0.0% | Reducing Rate: 0.0% |
Benefits:
- Competitive interest rates
- Loan amounts up to 100% of car value
- Repayment periods from 6 months up to 7 years
- Flexible down payment options
- Postpone up to 2 instalments per year
- Car insurance is required except for secured car loans
Eligibility:
- Minimum age is 21
- Offered to Egyptians and Expatriates (with a valid residency permit in their passport)
- A car loan is offered for employed, business owners & professionals
Required Documents:
- Copy of a valid national ID
- A valid residency Visa page for expats
- Car quotation
** 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
