Features & Benefits:
- No need for Guarantor
- Loan amount up to 1 Million EGP
- Financing up to 100% of the car price
- 40% down payment programs are available with minimum documentation
- Loan tenor up to 7 years
- Competitive interest rates
- Min. net monthly income 1,500 EGP
- No I-Score fees
- No opening account fees
- Free Insurance policy for life and total disability
- Special program for corporate deals (group deals)
- A new program that finances 100% of the car price with extra collateral of 50% of the car price
- Age of the borrower at least 21 years and not more than 60 years at loan maturity (salaried employees)
- Age of the borrower at least 25 years not more than age 65 years at loan maturity (self-employed & professionals)
- Copy of ID (valid)
- Utility bill (as per policy) dated not more than 3 months
- Administration fees: 1.5% of total loan amount till 5 years and 2% till 6 & 7 years (paid once) for most of the programs
- Early settlement fees (Full & partial): 3% of the amount paid
- Late charges: 2% of the amount due
** 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.