|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|ALEXBANK - Employed Customers Loans||Minimum Salary: EGP 1,000||Salary Transfer: No||Islamic Finance: No||Maximum Term: 12 Years||Flat Rate: 0.0%||Reducing Rate: 0.0%|
- Extended Duration: Loan repayment up-to 12 years
- Variable or Fixed Interest Rate
- Free life insurance throughout the loan duration
- Loan amount up to EGP 1,500,000
- Copy of national ID
- Recent salary proof
- Recent telephone, electricity or gas utility bill (maximum 3 months old)
- Customer age : Starting from 21 till 65 years old
- Minimum employment duration: 3 months
** 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.