- For Employees a minimum monthly salary of L.E. 2,500. Salary transfer not required.
- For Self employed or corporate borrowers a minimum monthly income of L.E. 20,000 is
required.
- Monthly installments cannot exceed 40% of salary.
- For New Cars:
- Up to 90% of the value of the car can be financed.
- Maximum finance of new car is L.E. 500,000.
- Age: 65 years at the end of repayment period.
- Tenor of loan ranges from 6 to 60 months.
- Interest Rates:
- Minimal interest rates starting from 7.81%
- Special Offer For Used Cars:
- Maximum age of the used car cannot be more than 3 years.
- The EGB will finance up to 65% of the cars value after a depreciation rate of
20% annually.
- Tenor for used cars loan up to 48 months.
- Competitive Interest Rates.
- Required Documentation:
- Application for Car Loan
- Photocopy of national ID card.
- Recent electricity or gas bill for resident address.
- Car dealer’s offer/ price list mentioning brand, model, manufacturing year,
and price.
- Copy of Driving license.
- Salary letter.
- Additional Documentation for corporate/ self employed:
1. Commercial register or work permit of self employed.
2. Taxation card.
3. 6 month bank account statement.
4. Annual tax declaration OR certificate issued by acceptable
auditor declaring income and tax declaration status.
5. Last 2 years of audited financial statements.
- All facilities are subject to bank approval