Many Egyptian banks provide a lot of services to pensioners, who reach 9 million citizens, including providing them with personal loans.
There are 9 banks that offer the service of obtaining personal loans for pensioners, and in this report we try to monitor all the necessary information about these loans:
Cairo
· The value of the loan: from 3,000 pounds up to 200,000 pounds.
· Repayment period: from 6 months to 7 years.
· Interest: 17% reducing.
· The minimum pension is 1,500 pounds.
Al-Ahly Kuwaiti – Egypt
· Loan value: From 15,000 pounds up to 150,000 pounds.
· Reducing interest rate starting from 19% p.a.
· Loan term: up to 84 months (7 years).
· Ease of payment through the bank’s branches located in the governorates.
· Life insurance throughout the finance period.
Conditions for obtaining the loan:
– The net pension should not be less than 750 pounds.
– The age should not exceed 65 years at the end of the loan term.
How to obtain financing:
– By visiting the nearest branch of the bank.
– Contact the customer service center, available around the clock, all days of the week.
Construction and Housing
· Loan value: From 3000 pounds to one million pounds.
· Repayment period: from 6 months to 10 years.
· Interest: 17% reducing.
· The pensioner or beneficiary is financed from the pension.
· Free life insurance until the loan expires.
the conditions:
– The minimum pension is 1200 pounds.
– Submit any documents indicating other sources of income (if any).
– Age: Not more than 65 years old at the end of the funding.
– A pledge to transfer the value of the pension
Greek Ahly
· Loan value: From 10,000 pounds up to 75,000 pounds.
· A repayment period of up to 5 years.
· Interest: 15.22% flat.
· The minimum pension is 1750 pounds.
Alexandria
· Loan value: From 5,000 pounds up to 1.5 million pounds.
· Repayment period: up to 8 years.
· Interest: 14.5% reducing.
· The minimum pension is 1000 pounds.
QNB Ahly
· Financing value: It starts from 7,500 EGP.
· Repayment period: from 6 months, up to 7 years.
· Interest: 17% reducing.
· The minimum pension is 1,500 pounds.
Egypt Bank
· Loan value: From 5,000 pounds up to 500,000 pounds.
· Repayment period: from 6 months to 8 years.
· Interest: 15.5% reducing.
· The minimum pension is 500 pounds.
Nasser Social Bank
· Loan value: up to 300,000 EGP.
· Financing percentage of up to 75% of the salary or pension.
· Repayment period: from 2 years up to 7 years.
· Interest: 9% fixed for the pensioner, 9.5% for the heirs.
· Guarantor is not required.
· The age is not more than 68 years at the end of the loan.
The National Union
· Funding value: from 20,000 EGP up to 150,000 EGP.
· Repayment period: from 6 months to 7 years.
· Interest: 15% (reducing) if repayment within 5 years, and 16.5% if repayment within 7 years.
· A certified statement of the terms of the monthly pension and approval of the transfer of the borrower’s pension, bearing in mind that it is issued by the authority in charge of the exchange and sealed with the entity’s seal
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