The Economy website presents the steps and details of obtaining a car loan from the National Bank of Egypt and the conditions required to obtain the loan.
car loan features
No need for Guarantor.
Loan amount up to 1.5 Million EGP for employees, and up to 3 Million EGP for Self-employed & professionals.
Financing up to 100% of car price.
Loan tenor up to 7 years.
Competitive interest rates.
Min. net monthly income 1,500 EGP.
No I-Score fees.
No opening account fees.
Special program for corporate deals (group deals).
Multiple programs that suit all customers’ needs:
Employees program with salary transfer.
Employees program with income proof.
Employee program with 40% down payment of the car price and 60% financing.
Self-employed & professionals program with 50% down payment of the car price and 50% financing.
Self-employed & professionals program with 30% down payment of the car price and 70% financing.
Financing 100% of car price against 50% collateral of car price.
NBE’s VIP customers program
Basic required documents from all customers
Copy of ID (valid).
Utility bill (as per approved policy).
General conditions
Age of the borrower at least 21 years and not more than 60 years at loan maturity (employees).
Age of the borrower at least 25 years not more than 65 years at loan maturity (self-employed & professionals).
Commissions and fees
Administration fees : Payed once upfront (As per approved policy).
Early settlement fees (Full & partial): 3% till 5 years and 3.5% for more than 5 years of the amount paid.
Late charges: 2% of the amount due.
