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Car Loans

Car Loans are Granted to Egyptians Through the Following Finance Schemes:

-          Salary/installment transfers guaranteed by the employer

-          Employees with income proof

-     Employees without income proof document

 -        Self employed professionals and business owners with income proof

-     Self employed professionals and business owners without income proof document

-          Individuals with savings schemes

 

General Loan Terms

-          Competitive interest rate

-          Age:21-60 years for employees and 21-65 years for self employed professionals and business owners at the time of loan maturity

-          The Maximum loan amount: EGP 500,000

-          The Maximum finance rate: 100% of car value (under certain conditions)

-       The Maximum repayment period: 120 months 

Required Documents

-  Car loan application

-  Photocopy of a valid National ID

- Recent utility bill (electricity/gas/water/telephone) refers to the address of residence  

For Employees:

-          HRletter

-          Salary/installment transfer letter issued by the employer 

For Self Employed Professionals and Business Owners:

-          Photocopy of the tax card

-          An official document from the commercial registry (in the case of business owners)

-          Operating permit/license

-          Bank statement for last 6 months

 

Additional Benefits

-          Customer receives a free life insurance policy covering the loan term

-          The car can be licensed to a third-party from the borrower’s family

-          Loan can be granted using collateral in the form of any EGP savings funds – whether savings accounts, savings certificates, or trusts 

 

*Terms and Conditions apply​