|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|Arab Bank - Personal Loan||Minimum Salary: EGP 0||Salary Transfer: No||Islamic Finance: No||Maximum Term: 7 Years||Flat Rate: 7.22%||Reducing Rate: 13.0%|
- Competitive interest rates
- Loan amount up to EGP 600,000
- Loan tenure up to 7 years
- Free life insurance
- Re-financing facilities after 6 months from the date of the current loan
- Installment postponement options
- Option of providing mutual financing for first degree relatives if salary is less than the minimum amount required
- Quick loan application processing time
- Dedicated Sales Team - ready to serve you at your convenience
- Valid national ID (for Residents) or valid passport with valid Resident visa (for Non-Residents)
- Recent utility bill in the name of the client e.g. electricity, telephone or rental contract
- Latest Salary/Income/Employment verification document
** 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.