|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|Bank ABC - Personal Loan for Self-Employed||Minimum Salary: EGP 0||Salary Transfer: No||Islamic Finance: No||Maximum Term: 6 Years||Flat Rate: 0.0%||Reducing Rate: 0.0%|
- Offered to Egyptians customers, professionals or business owners & partners.
- Flexible installments up to 60 months for self & 72 months for professionals.
- Competitive interest rate.
- Loan amount up to EGP 500,000
- Free Life Insurance.
- Application form.
- Copy of National ID.
- Recent utility bill.
- Copy of commercial register or equivalent for professionals.
- Copy of Tax Card or equivalent for professionals.
- Last 6 months personal or business bank statement.
** 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.