Minimum Salary Salary Transfer Early Settlement Fees Maximum Term Flat Rate Reducing Rate
Société Arabe Internationale de Banque - Car Loan Société Arabe Internationale de Banque - Car Loan Minimum Salary: EGP 1,500 Salary Transfer: Yes Early Settlement Fees: - Maximum Term: 7 Years Flat Rate: 0.0% Reducing Rate: 0.0%
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Advantages

  • Financing up to 85% of vehicle value
  • Payment facilities with installments up to 84 months
  • Various programs to satisfy all of the customer’s needs
  • Possibility of getting the loan with NO Vehicle prohibition of sale
  • Financing up to 700,000 EGP
  • Islamic Financing Programs are available (AUTO MURABAHA) using the MURABAHA Islamic mechanism.
  • Financing the purchase of used vehicles.

Borrower Categories

  • Employees (Public Sector / Private Sector)
  • Businessmen
  • Professionals

Conditions Required from the Applicants:

Employees:

  • Nationality : Egyptian
  • Age : Minimum age of 23 years old and maximum age of 60 years old at the end of the financing payment period.
  • Total monthly income : not to be less than 1,500 EGP.
  • Employment period with the current employer : not to be less than ONE Year.

Businessmen & Professionals:

  • Nationality : Egyptian
  • Age : Minimum age of 25 years old and maximum age of 65 years old at the end of the financing payment period.

Required Documents:

General Documents:

  • A valid National ID Card.
  • Recent Utility Bill ( water/gas/electricity) doesn’t exceed 3 months.
  • Vehicle price quotation with all details related to the vehicle accessories from the car dealer or agency.
  • Income Proof Documents.

Documents based on the Applicants’ Category:

Businessmen :

  • Valid Commercial register.
  • A valid Taxation card.

Professionals:

  • License to practice.
  • Operation license.
  • A valid Taxation Card.
** 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.
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