After Mortgage loan product for Egyptians working abroad.. Two certifications from Banque Misr
Shrouq
Based on Banque Misr’s constant keenness to meet the diverse needs of its customers and to develop everything new and commensurate with the needs of customers, and the constant development of the bank’s savings vessels, Banque Misr launches “Al-Qimma” and “Elite” savings certificates in US dollars for a period of 3 years, and they start working in its branches as of Wednesday, July 26, 2023.
Certification details
The summit certificate has a return of 9% annually, and it is a nominal certificate issued to Egyptians and foreigners, and the return is paid in advance for three years (27%) cumulative in Egyptian pounds; In addition, the Elite certificate has a return of 7% annually, and it is a nominal certificate issued to Egyptians and foreigners. The return is paid quarterly in US dollars. Egyptians and foreigners can purchase the two certificates with a denomination of 1000 US dollars and its multiples.
Certificate features
The date of issuance of the certificate starts from the working day following the deposit and is considered the basis for return and recovery, according to the terms and conditions regulating that.
Elite certificate holders can borrow in Egyptian pounds and up to 50% of the redemption value of the certificate, with a maximum of 10 million pounds, and certificates are redeemed in US dollars according to the terms and conditions regulating that.
How can you buy the certification
Certificates can be purchased through the bank’s website, the Internet, mobile banking BM Online, the bank’s branches inside and outside Egypt, and the ATM network.
Certificates can also be retrieved after 6 months have passed according to the distinctive redemption rules in force for those certificates, and the Central Bank of Egypt guarantees certificate holders the right to transfer refund amounts and return according to the rules governing certificates to the customer’s account outside Egypt if requested and without a maximum transfer limit with exemption from some account fees.
Details of personal loan and finance producers
Banque Misr also recently launched personal loan and real estate financing products for Egyptians working abroad, as part of the bank's constant endeavor to provide the bank's various products with advantages commensurate with their needs.
This will allow the expansion of real estate financing grants to include Egyptians working abroad to finance their purchase of housing units inside their home country, which motivates them to invest their savings in the real estate sector.
The launch of the financing also comes within the framework of the bank’s continuous contribution to the implementation of the state’s plan, and its constant endeavor in urban expansion and the establishment of new cities and urban communities.
Finance existing housing
The mortgage loan product allows Egyptians working abroad to finance existing housing units with the largest financing rate of up to 80% of the value of the housing unit, and with the longest repayment period of up to 15 years.
Banque Misr also provides a personal loan product for Egyptians working abroad, with a loan value of 3 million Egyptian pounds, and a repayment period of up to 4 years.
