|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|Banque Misr - Hajj and Umrah loan||Minimum Salary: EGP 10||Salary Transfer: No||Islamic Finance: No||Maximum Term: 0 Years||Flat Rate: 0.0%||Reducing Rate: 0.0%|
Hajj and Umrah Loans are granted to Egyptians through the following finance schemes:
- Employees with a pledge from their employing company to transfer the monthly salary or installment.
- Employees with proof of income certificate.
- Self-employed professionals and business owners.
- Pensioners (with or without a pledge to transfer pensions).
- Loans guaranteed against savings deposits (Egyptians and foreigners).
- Copy of a valid national ID card
- Recent original utility bill (gas, electricity, water, telephone)
- Validated offer list from the company/companies
- A certificate of income is required
- Employer's pledge to transfer the monthly salary or installment
For self-employed, commercial and industrial business owners:
- Copy of tax card
- Copy of license/permit to practice the profession
- Copy of commercial registry
- Bank statement for previous six months
- Certificate of pension.
- Beneficiaries of the pension statement (in the event of existing beneficiaries).
- Pledge to transfer the monthly pension.
- Free life insurance policy throughout the loan period.
- Competitive interest rate
- The debtor must be at least 21 years old
- Loan capped at up to EGP 400,000 for Hajj (conditions applicable).
- Loan capped at up to EGP 100,000 for Umrah (conditions applicable).
- Financing worth up to 100% of the value of the trip
- Loan period up to 120 months
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest rate on the product which is equivalent to 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.