Car loan from the National Bank of Egypt—
A car loan from the National Bank of Egypt is considered one of the latest banking products that the bank has developed in order to meet all the needs and segments of different customers, which since its inception has been developing its functions and services in line with the economic and political changes that the country is going through, so it is keen to provide the latest banking services and products It is best developed to maintain its leadership that it gained from the confidence of its customers and the last services provided by the National Bank were credit cards, housing loans, car loans, and current account, and in this article we devote research to car loans and all the details related to them.
Car loan from the National Bank of Egypt
What are the advantages of a car loan at AlAhli Bank?
Car loans granted to Al Ahli Bank customers enjoy a number of advantages, which are as follows:
- A car loan is given without a guarantor.
- The client is granted a free life and total disability insurance policy.
- Financing (loan amount) reaches one million Egyptian pounds.
- The financing ratio reaches 100% of the car’s value.
- The loan is granted with the lowest documents if it is done according to the 40% advance program.
- The loan can be repaid over different periods of one to seven years.
- Competitive interest rate
- There is a special program for corporate employees.
- The minimum monthly net customer income must start from EGP 1500.
- The full car price can be funded against a guarantee given to the bank at half the price of the car
- Without credit inquiry fees
- Without an account opening fee
What are the conditions for obtaining a car loan?
Conditions for a loan applicant to purchase a car include the following:
- The borrower must be at least 21 years old, and no more than 60 years old at the end of the loan to employees.
- The borrower’s age must not be less than 25 years and not more than 65 years at the end of the loan to business owners and self-employed persons.
What are the required documents, commissions and fees?
The borrower must provide the documents next :
- A copy of the valid national ID card.
- An accompanying bill in the name of the customer, provided that no more than 3 months have passed
As for Commissions and fees To be completed, they are as follows:
- Administrative expenses are collected from the finance amount once in advance by 1.5% to 5 years, and 2% to 6 or 7 years for most programs
- Commission for early repayment of the loan (total and partial) 3% of the amount to be repaid
- The penalty for delaying the installment penalty is 2% of the amount due and it has not been paid.
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