| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Mashreq Bank - Car Loan
|
Minimum Salary: EGP 0 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 5 Years | Flat Rate: 8.73% | Reducing Rate: 15.72% |
Mashreq offers some of the most competitive car loan interest rates in Egypt. And our approval process simplifies the entire buying process for you.
Mashreq Bank Car Loan Features:
Representative example:
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.
Mashreq Bank Car Loan Features:
- Competitive Interest Rates
- High Loan Amount Maximum Loan of up to EGP 750,000
- Flexible Repayment Options 12-60 month repayment periods
- First Year Insurance coverage premium as part of your monthly installment
- A free Mashreq Credit Card for the first year
- Application form
- Copy of valid national Identification form
- Car price quotation
Representative example:
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
