Car purchase loan in 3 government banks
Shrouq
The Bank of Alexandria announced the details of business owners and self-employed persons obtaining a loan to purchase a car, whether new or used, in light of the fact that there are several conditions that must be followed when going to the bank to obtain the loan.
Car loan details
- The value of private financing for a car loan reaches 1,000,000 pounds.
- The financing period is up to 5 years.
-The Bank of Alexandria also finances business owners and self-employed professionals without paying an advance.
-The interest rate on the loan is competitive.
-The Bank of Alexandria provides life insurance throughout the financing period.
-The client's age ranges from 25 to 65 years.
Required Documents
- For the required documents, you must bring a copy of your national ID card.
- Bank statement for the last 12 months.
- A recent commercial register extract, not more than 3 months old.
- A recent utility bill for gas, electricity, and telephone, which must not be more than 3 months old.
Car loan from the National Bank of Egypt
Loan value: up to 3 million pounds with salary transfer.
- Financing: up to 100% of the car price.
- Repayment period: up to 7 years.
- Interest rate: starts from 23% to 24.5%.
- Interest type: decreasing annually.
- Minimum monthly net income: starts from 1,500 pounds.
Car loan from the Agricultural Bank of Egypt
-The Agricultural Bank of Egypt provides financing for the purchase of private cars for permanent employees in the government, the public sector, the business sector, and agencies, as well as for farmers and self-employed individuals, up to a maximum of one million pounds. The details of the loan are as follows:
- Loan value: up to one million pounds.
- Repayment period: up to 7 years.
- Interest rate: 18% with salary transfer, 19% without salary transfer, and 21% with self-employment.
- Car down payment: starting from 25%.
- Minimum net monthly income: 3 thousand pounds.
