Banque Misr has announced the availability of financing for the purchase of durable goods, with values ranging from 6 thousand pounds to one million pounds, with repayment periods ranging from 6 months to 8 years, according to several conditions, within the framework of the bank’s plan to diversify its financing activities.
Bank of Egypt set the interest rate on the durable goods loan, which ranges from 16% to 19% annually, decreasing according to the type of customer’s job, and at 2% of the total loan amount, it is deducted as administrative expenses.
According to the bank, one of the specific conditions for obtaining a durable goods loan is that the client’s age ranges from 21 to 65 years when the last installment is paid as a maximum.
The bank requests documents to obtain the loan, including a copy of the valid national ID card, a certified utility receipt, and a price display of the goods to be funded and approved.
To obtain the loan for employees in the public or private sector, an undertaking is attached from the employer to transfer the monthly installment from the monthly salary and proof of income, and a salary vocabulary certificate.
For the owners of free professions, commercial and industrial, a commercial record, tax card and permit to practice the profession should be attached in the case of free professions, and a recent bank account statement for a period of 6 months.
For pensioners, a statement of the value of the monthly pension and the data of the beneficiary of the pension should be available, and he undertook to transfer the pension monthly from the exchange party.
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