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Many banks compete for various loans, such as apartment financing, marriage loans, and the purchase of housing and cars, to facilitate youth.
Al Watan reviews the main loans offered by banks to young people:
Apartment loan financing
1- National Bank QNB
– Available for salary transfer clients to QNB Al Ahli, self-employed and employees (wage transfer provided or without salary transfer), the loan amount not exceeding 250,000 pounds. There is no limit for pay transfer clients The borrower is 21 years old.
2- Al Baraka Bank
The bank provides a loan for housing under completion with a maximum financing of LE 750 000 and a deposit of 20% so that the monthly payment does not exceed 35% of monthly income after deduction (taxes and social insurance).
– The minimum income should be LE 3,000, except for business owners and Egyptians working abroad, the minimum total income is LE 5,000.
– The repayment period can go up to 5 years (60 months).
3 – First Bank of Abu Dhabi
The bank provides a loan for the finishing of the housing, at a rate corresponding to 70% of its value, with a maximum financing of LE 3 million, provided that the salary is not less than LE 15 000 per month and that the housing be registered in the month of real estate. The bank authorizes the repayment over periods ranging from 6 months to 10 years with an interest of 20.25 The required documents include the residency agreement, a recent receipt from the companion, a copy of the identity card, proof of income and a statement of account for the last 6 months.
CIB Commercial Bank
The bank provides a property finishing service of a minimum of 120,000 pounds and a maximum of 5 million pounds, guaranteeing the transfer of wages at a maximum interest rate of 22. , 77% or no transfer of salary with a maximum interest of 23.35 euros, or guaranteeing the trade register or the tax card to employers with possibility of repayment of the loan of one year. For 20 years, provided the borrower is an Egyptian national, at least 21 years old and who has a high school diploma or its equivalent.
Ready for the purchase of electrical appliances
1- National Bank QNB
– The loan period starts between 6 and 60 months.
– Financing up to 100% of the value of durable goods.
– The age of the client must be 21 years old.
– Available for salary transfer clients at QNB AlAhli, freelancers and employees.
2- Bank of Egypt
– The value of the loan varies from 3,000 to 150,000 pounds maximum.
– The repayment period of the loan varies from 6 months to 8 years maximum.
– The rate of interest varies from 18% for government employees to 18.5% for private sector employees.
– The percentage of administration fees is equal to 1% of the total amount of the loan.
– Minimum monthly income of 400 pounds.
3. Social Bank Nasser
– The maximum loan amount is 50,000 pounds.
– The repayment period of the loan varies from 6 months to 5 years maximum.
– The interest rate is calculated in the Islamic system in the form of administrative expenses.
– The monthly income is determined by the amount of the payment and the amount of the loan.
4- Bank SAIB
– The value of the loan varies from a minimum of 5,000 pounds to a maximum of 75,000 pounds.
– The repayment period varies from a minimum of 6 months to a maximum of 5 years.
– The interest rate decreases by 21.5%.
– Administrative costs 1% of the total amount of the loan.
– Minimum age of 21 years.
– Minimum monthly income of 800 LE.
Night life loan
1- Al Baraka Bank
– This program benefits employees, workers, professionals and contractors aged at least 21 years old.
– The minimum income is 3,000 pounds, except for business owners and Egyptians working abroad, the minimum total income is 5,000 pounds.
– The maximum amount of financing is £ 200,000 with a repayment of 10% of the financial value.
– The monthly payment does not exceed 35% of the value of the monthly income after deduction (taxes and social insurance).
– Repayment period of up to 5 years (60 months).
– issuance of a bank check for the party organizer.
– The possibility of financing without transfer of salary.
– The bank pays a price in case of early repayment.
2- International Commercial Bank (CIB)
– Luxury Hotels such as Holiday Inn, Grand Nile Tower, Dusit Thani Lake View, Marriott and Kempinski Nile
– Exclusive hotel offers shared to CIB customers.
– Promotional offers from other resellers to CIB customers.
– Flexible financing systems, in which the loan amount is transferred directly to the hotel.
3. Housing and Development Bank
The loan is funded at 75% of the required costs and with repayment programs of up to 120 months.
Required documents:
– National identity card (valid).
– Accompanying receipt (recent).
– Contract of ownership or rental of the residence.
– Statement of salary items (certified).
– Approval of the transfer of salary, pension or payment in case of bank request.
For business owners or self-employed:
– The commercial registration is subject
– Certified accountant and bank statement for 6 months.
– What benefits the tax situation
Emirates NBD Bank
– The loan amount can reach one million Egyptian pounds.
– Flexible repayment period up to 120 months.
– Free life insurance for the duration of the loan.
– No guarantor is required.
Required documents:
A valid national identity card.
A recent electricity bill.
A letter from the staff affairs.
Housing loan
1- African African Bank
– Up to 80% of the unit value.
– Financing period up to 15 years is a long-term financing to facilitate your home ownership.
– The mortgage payment can not exceed 40% of your monthly income.
– The minimum age is 25 years old.
National Bank of Kuwait
– You can benefit from real estate financing NBK-Egypt with a minimum amount of EGP 100,000 and a maximum of EGP 4 million, with the option of repayment of your loan for up to 15 years.
– The repayment period is at least one year and not more than 15 years.
– Funding rate of up to 85% of the property unit price, and the construction of the unit must be complete and complete facilities.
– The borrower must be at least 21 years old.
– No guarantor is required.
3- Bank Misr
– The minimum duration of the loan is 8 years and the maximum duration of 20 years.
– The minimum amount of financing is 20 000 LE and the maximum amount of 85% of the value of the housing unit.
– Net monthly income should not exceed 3,500 pounds for the single person and no more than 4,750 pounds for the newlyweds.
4- Blom Bank Egypt
– Take advantage of home financing for your home or business unit.
– Loan duration up to 20 years.
– The first payment is made according to the unit.
Auto loan
1- National Bank of Egypt
– The loan starts at a minimum of 20,000 pounds and reaches a maximum of one million pounds.
– Different repayment periods from 1 to 7 years.
– The minimum net monthly income starts from 1500 pounds.
– The borrower must be at least 21 years old for employees and at least 25 years old for self employed and self employed.
– Required documents: (copy of valid national identity card, utility bill "in accordance with approved policy").
Bank Audi
– Financing up to 100% of the value of the car (maximum 1,120,000 pounds).
– Repayment period up to 5 years.
– the possibility of financing without prohibition of sale or insurance.
– A vast network of agencies covering the Greater Cairo, Alexandria, Delta, Sharm el-Sheikh and Hurghada regions.
Required documents: Car loan application form / Murabaha, copy of proof of work / residence valid on national identity card, proof of source of income "on request, depending on the type and nature of the program ".
3- International Commercial Bank (CIB)
– The value of the auto loan reaches 100% of the value of the car up to a maximum of 600,000 pounds.
– Flexibility in repayment of payments up to 6 years.
– Salary should not be less than LE 5,000 per month.
4- African Arab International Bank
– The minimum funding is £ 22,000 and the maximum funding is £ 1 million.
– Flexible repayment period up to 7 years.
– Must be at least 21 years old and the client must be appointed at least for a period of 6 months at his current place of work.
– Free life insurance for the duration of the financing.
– Financing up to 3 cars per client provided that the income criteria are met.
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