12:52 PM
Monday, October 14, 2024
Manal Al-Masry wrote:
The four largest banks operating in the banking sector – at the level of geographical distribution – offer personal loans – money loans – to customers at an interest rate of up to 36% per annum on a basis that going down, at the same time as the Central Bank’s proximity to lending money. meeting to decide the interest rate.
Interest rates on personal loans hit record highs after the Central Bank raised interest rates by 19% in the last two and a half years to curb inflation.
The Central Bank will hold its sixth meeting in 2024 next Thursday to decide on the interest rate after keeping it unchanged in the last three meetings at a rate of 27.25% for deposits and 28.25% for lending , among what is expected to set an interest rate for the fourth place. time in a row.
Banks try to provide personal loans to workers with a salary transfer guarantee and to the self-employed, and the details of the loan vary from one customer to another depending on his job and the total monthly income.
In the following lines, Masrawy provides details of personal loans in the four largest banks before the decision of the interest rate meeting next Thursday.
Loan amount: up to 3 million pounds.
Interest rate: ranging from 29.75% to 32.5% per year on a declining basis depending on the client’s work.
Loan repayment period: up to a maximum of 12 years.
Administrative costs: between 2% and 3% of the total value of the loan, deducted once.
Monthly income: not less than 1,500 pounds.
Client age: from 21 to 65 years.
Bank of Egypt
Loan amount: up to 3 million pounds.
Interest rate: ranging from 28.5% to 32% annually on a declining basis depending on the client’s work.
Loan repayment period: up to a maximum of 12 years.
Administrative costs: The bank deducts 3% of the total value of the loan once.
Monthly income: not less than one thousand pounds for a government employee and two thousand pounds for a private sector employee.
Client age: from 21 to 65 years.
International Commercial Bank “CIB”
Loan amount: up to 8 million pounds.
Interest rate: between 26% and 36% annually on a lower basis depending on the client’s work.
Loan repayment period: up to a maximum of 8 years.
Administrative costs: The bank deducts between 1.75% and 2% of the total value of the loan once, depending on the type of customer account.
Monthly income: not less than 3 thousand pounds.
Client age: from 21 to 65 years.
Loan amount: up to 5 million pounds.
Interest rate: It varies from one employee to another and according to the type of company and is determined by the customer service employee.
Loan repayment period: up to a maximum of 12 years.
Administrative costs: The bank deducts 2% of the total value of the loan once.
Monthly income: not less than one thousand pounds.
Client age: from 21 to 65 years.
2024-10-14 09:52:00
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