Conditions of the car loan of the National Bank of Egypt and Banque Misr

For those who want to buy a car and need more financing, Al-Masry Al-Youm monitors the loan details for the National Bank of Egypt, Bank of Egypt, where it provides you loans to finance cars of all kinds and also loans for used cars. .

A minimum net monthly income is required, starting at £ 1,000, and the average loans offered by banks range from £ 20,000 as a minimum loan value to a maximum of £ 1.5 million, with repayment terms starting at 6 months and up to 8 years.

First: the car loan from the National Bank of Egypt

Loan advantages

Without collateral, the value of the financing ranges from £ 20,000 to £ 1 million, up to 100% of the price of the car, with different payment terms from one year to 7 years.

As for the interest rate, it ranges between 18% and 19% per year, with a decreasing rate, and the rate is determined according to the type of work.

The National Bank also offers special programs for corporate employees, with a minimum net monthly income starting from 1,500 pounds, with no credit inquiries or account opening charges.

As for the required documents, they do not exceed a copy of a valid national ID and a utility bill.

Second: the Banque Misr car loan

The car loan is granted to Egyptians through the following financing programs

Employees with an employer commitment to transfer salary / monthly fee, employees according to proof of income, employees without proof of income, self-employed and owners of commercial and industrial activities with proof of income, self-employed and owners of commercial and industrial activities without proof of income , thrift boat owners (for Egyptians and foreigners).

Regarding the conditions and characteristics

The interest rate ranges between 17% and 18.5% and the rate is determined according to the type of work of the borrower, provided that the minimum age of the borrower is 21 years and the maximum is 65 years.

And without a maximum loan, with specific terms according to the type of work of the borrower and also determined by the branch.

The financing percentage reaches 100% of the value of the car, and the percentage is determined according to the type of work of the borrower through the branch.

Financing term up to 120 months.

The minimum monthly income is £ 1,000 for government workers and £ 2,000 for private sector workers.

Required documents

A copy of a valid national ID, an original receipt attached to the client’s residence (gas – electricity – water – telephone) and an approved quote for the exhibition.

For employees, a certificate of monthly salary items, the employer agrees to transfer the salary / monthly fee (in case the employer agrees).

Regarding the holders of autonomous and commercial and industrial activities, copy of the tax certificate, copy of license / Permission to practice the profession, with a copy of a recent official extract from the commercial register and bank statement for a period of time. 6 Months.