|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|ALEXBANK - Personal Loan for Pensioners||Minimum Salary: EGP 1,000||Salary Transfer: Yes||Islamic Finance: No||Maximum Term: 10 Years||Flat Rate: 0.0%||Reducing Rate: 0.0%|
Personal loan offered to retired Egyptians with their pensions transferred to ALEXBANK
- Extended repayment up to 10 Years
- Competitive Interest Rate and charges
- Minimum loan amount 5,000 EGP and maximum 500,000 EGP
- Free Life Insurance
- Customers can choose interest rate calculation methodology (fixed Interest rate / Variable interest rate)*
- Customers can postpone 12 consecutive instalments at any time throughout the loan Tenure
- Completed Application Form
- Copy of National ID
- Recent pension Certificate letter
- Recent telephone, electricity or gas utility bill (maximum 3 months old)
- Pension transfer declaration
- For Arm Force pensioners, a declaration from the Insurance and Pensions Authority at the Armed Forces is required declaring that the pension will continue being transferred unless a written notification from ALEXBANK is received
- Minimum pension amount EGP 1000
- Transfer pension to ALEXBANK account
- Customers Age between 21 Years and 65 Years
** 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.