commercial loan

Commercial loans for individuals: These are loans provided to individuals to finance their personal needs. These loans can be used for a variety of purposes, including:

• Loans for tourist trips, Hajj and Umrah
• Education loans
• Minor medical operations, cosmetic services and prosthetic devices
• Wedding parties
• Club subscriptions
• Car maintenance and repair
• Any other consumer financing through a third party (supplier/service provider)

The Commercial Diversified Loan is available to Egyptians through various financing programs, including:

• Employees with salary/ installment transfer (pledge/pledge without dues/contractors).
• Employees without salary transfer.
• Professionals/entrepreneurs.
• Pensioners/beneficiaries (with or without a pension transfer undertaking).

General conditions for loan approval include:

• The borrower must be at least 21 years old.
• Maximum loan amount is EGP 300,000.
• Maximum financing ratio is 100%.
• Maximum loan tenor is 60 months.
• Administrative expenses amount to 1.50% of the loan value (deducted automatically).

Basic documents required:

• A copy of a valid national ID card.
• The original utility receipt for the customer's residence.
• Quote/expense statement.

Additional documents based on employment status:

• For employees:
• Certificate of monthly salary vocabulary.
• Employer's undertaking to transfer the salary/monthly installment (if applicable).

For self-employed and entrepreneurs:

• Copy of the tax card.
• License/permit to practice the profession for liberal professions.
• Recent official extract from the commercial register for self-employment.
• Bank statement for the last 6 months.

For pensioners:

• Statement of the monthly pension value from the pension payment authority.
• Statement of the beneficiaries of the pension (if applicable).
• Undertaking to transfer the pension (if the pensioner chooses to transfer).

Additional features:

• The customer receives a free life insurance policy throughout the life of the loan.