With the best repayment period, Egyptian banks offer auto loans 2022

Given the high prices of cars, Egyptian banks allow customers to obtain a car loan, under specific conditions and following a set of procedures.

Banks, including the National Bank of Egypt and Banque Misr, provide facilities for all individuals to obtain a car loan with several guarantees, including a salary transfer guarantee, and without salary transfer, and for workers independent, under specific conditions with simple procedures. .

Banque Misr 2022 car loan for the self-employed:

Banque Misr provides access to car loans for the self-employed, and Banque Misr offers a car loan with the guarantee of the commercial register and the tax card with a financing rate of up to 80% of the real value of the car, and customer should pay 20 percent as deposit.

Car loan from Banque Misr:

The loan amount is a maximum of LE 750,000, the repayment period varies from six months to six years and the interest rate is 19.5%.

Conditions for obtaining a car loan from Banque Misr 2022:

The minimum age for loan application must be 21 years old.

The salary does not need to be transferred to the bank.

The maximum age for an independent borrower is 65.

The minimum amount of auto credit for the monthly salary is 2000 LE for the self-employed.

Documents required to obtain a car loan from Banque Misr:

A copy of the tax card.

A copy of the license to practice the profession must be attached.

An official copy for the commercial register.

Bank statement for 6 months.

National Bank of Egypt (NBE) Car Loan 2022:

The NBE recently issued a new ruling to increase the maximum car loan value. NBE allows professionals and freelancers to finance up to 50% of the total value of the car, which means that the customer is required to pay the value of half of the car as a deposit.

Another advantage offered by the bank is that the financing percentage can reach 70% of the total value of the car in exchange for the customer paying 30% of its total value in advance before approving the loan.

The loan amount is a maximum of LE 3 million, and the repayment period ranges from one year to seven years, and the interest rate is 19%.

Conditions for obtaining a car loan from NBE 2022:

The minimum age for the loan seeker should be 25 years.

The salary does not need to be transferred to the bank.

The maximum age for borrowing by the self-employed is 60 years old.

It is necessary that the customer’s monthly income is sufficient for the value of the car loan payment, provided that the total value of the payment does not exceed 50% of the total monthly income.