The National Bank and Banque Misr provide a number of services to its clients, including car loans for owners, and financing the purchase of new Chinese cars for customers, while the banks started financing Chinese cars two years ago, with their increasing spread in the Egyptian market, which attracted a large number of them.
Chinese car loans are also offered, at Al-Ahly Bank and Egypt, with a guarantee of transferring the employee’s salary, whether in the public sector, the private sector, or for professionals, and self-employment, or with a guarantee of savings pots for the customer, and we will learn through our topic about the details of obtaining loans.
Car loans for owners of the National Bank and Banque Misr:
Financing percentage from the bank: 50% of the car’s total value.
Interest rate: from 15% reducing to 16.5% annually, depending on the term of the loan.
Monthly income: 1500 pounds as a minimum.
Loan repayment period: 4 years maximum.
Age: 21 years to 60 years old.
Administrative expenses: from 1.5% to 2% of the total loan amount.
Loan value: from a minimum of 20 thousand pounds, to a maximum of one million pounds.
Age: 21 years to 65 years old.
Financing percentage from the bank: 60% of the car’s total value.
Loan repayment period: 3 years maximum.
Administrative expenses: 1.5% of the total loan amount.
Loan value: from a minimum of 70 thousand pounds to a maximum of 550 thousand pounds.
Interest rate: It ranges from 15.5% reducing to 17.75% annually, depending on the term of the loan.
Monthly income: 1,000 pounds as a minimum for a government employee, and 2,000 pounds as a minimum for the private sector.