- For employees with a minimum monthly salary of L.E. 8,000: salary must be transferred.
- For employees with a minimum monthly salary of L.E. 15,000: salary transfer not required.
- For self employed or corporate borrowers, a minimum of 3 years record is required or
must be a subsidiary of a business group.
- Age: for employees or senior executive 60 years at the end of repayment period, for self
employed 65 years at the end of repayment period
- Maximum Loan for self employed: L.E. 500,000
- Tenor of loan is from 6 to 36 months
- Interest Rate:
- For employees: a flat rate of 8.95%
- For self employed: a flat rate of 10.55%
- Required Documentation:
- Application for Luxury goods Loan.
- Salary letter.
- Photocopy of national ID card.
- Recent electricity or gas bill for resident address.
In case of employees, borrowing employees consent and irrevocable instructions to employer to continue transferring to EGB borrowers monthly salary/ installment and all end of service entitlements till full settlement of loan.
Irrevocable consent of borrower to transfer his salary or loan installments to EGB till full settlement of loan.
* All facilities are subject to bank approval.