04:38 PM
Wednesday 27 January 2021
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Books – Mohamed Gamal:
The National Bank of Egypt lowered the interest rate of 1% on new car loans, after reducing it on the Platinum Savings Certificate despite the Central Bank’s decision to fix interest.
The National Bank of Egypt provides new angel car loans to its customers in the Egyptian market to attract more customers and achieve large loan sales, with bank financing of up to 100% of the car’s value.
The National Bank of Egypt offers a package of personal retail loans such as personal loans, cars, and real estate financing outside the central initiative, allocating for them various programs that suit all the bank’s employees, whether in the public or private sector, or self-employed.
The interest rate on auto loans after the reduction was from 17% to 18%, decreasing instead of 18% to 19% before the reduction.
The bank requires that those wishing to buy a car with bank financing have the following:
First: Conditions for submission
1- The client is at least 21 years old and no more than 65 years old.
2- The applicant must be a holder of Egyptian nationality.
Second: The required documents
1- A valid National ID Card.
2- A recent escort receipt.
3- The original car price quotation
4- A letter addressed to the bank from the employer “for employees”
Self-employed:
A recent commercial register
A valid tax card
Bank account statement for 12 months
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