5 Egyptian banks that do not require a down payment for a car loan.. Find out the details

Egyptian banks vary in providing different financing programs for car loans, and a person often searches for the lowest down payment for a car loan, which we will monitor in the following lines in detail, according to the financing program price schedule for the month of September 2023.

Car loan without down payment

1- National Bank of Egypt

The National Bank of Egypt provides 0% down payment, the financing value is 20 thousand pounds to one million pounds, and the duration is up to 7 years.

2- Housing & Development Bank

The Housing and Development Bank offers financing up to one and a half million pounds, without down payment, and for a period of up to 7 years.

3- Commercial International Bank

Commercial International Bank CIB also offers a car loan without a down payment, with a financing value of up to 8 million pounds, depending on the customer category, and a duration of up to 8 years.

4- SAIB Bank

The down payment at SAIB Bank is 0%, the value of the financing reaches 2 and a half million pounds, and the period is from one to 7 years.

5- Arab Investment Bank

The Arab Investment Bank provides the possibility of obtaining a car loan with 0% down payment, the value of financing up to 3 million pounds, and the term up to 7 years.

Used car loan from Nasser Social Bank

On the other hand, Nasser Social Bank provided citizens with opportunities to obtain a used car loan, according to specific procedures and conditions, with interest rates ranging between 11 and 11.7%. These are the details of the used car loan from Nasser Social Bank:

- The bank offers a return rate of up to 11% if there is a government guarantee.

-The return rate is 11.7% if there is no government guarantee.

- The car deposit reaches a minimum of 25%.

Documents required for a car loan from Nasser Bank

The bank announced that new customers must bring their insurance number when they go to obtain a loan.

- You must bring a copy of your national ID card and it must be valid.

- It is necessary to bring a recent accompanying receipt and a statement from the employer with the current address of the financing applicant in the service file.

- You must bring a statement of your income, whether salary or pension.

A price quote for the car comes through all producing companies, agents and distributors, without restricting dealings to specific suppliers.

- It should be taken into account that no more than two years have passed since the car model, other than the year of manufacture, and not to adhere to the year of manufacture for people with special needs.

- The financing period for a private car is 90 months.

- For a car for the disabled, the financing period is up to 60 months.