Auto Loans
Auto
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.
Employees without proof of income.
Self-employed professionals and business owners with proof of income.
Self-employed professionals and business owners without proof of income.
Loans guaranteed against savings deposits (Egyptians and foreigners)
General
conditions for granting the loan:
Competitive interest rate
The debtor must be at least 21 years old
No maximum cap for loans (terms applicable)
Financing up to 100% of the value of the vehicle
Loan terms up to 120 months
Required
documents:
- Copy of a valid national ID card
- Recent original utility bill (gas, electricity, water, telephone)
- Validated price list from car showroom
For
employees:
- 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
Additional
benefits
- Free life insurance policy throughout the loan period
- The car can be licensed to a third-party from the debtor’s family.
- Car insurance and car resale ban are not required for certain programs (terms applicable).
*Terms and conditions apply
