Durable Goods Loans are granted to Egyptians through the following finance schemes:
- Employees with a pledge from their employer to transfer the monthly salary / installment
- Employees with proof of income certificate
- Self-employed professionals / business owners
- Pensioners / Pension Beneficiaries (with or without a pledge to transfer pensions)
- Loans guaranteed against savings deposits (Egyptians and foreigners)
- The debtor must be at least 21 years old
- Loan capped at up to EGP 500,000
- Financing worth up to 100% of the value of the durable goods
- Loan period of up to 120 months
Required documents:
- Copy of a valid national ID card
- Recent original utility bill at the customer’s residence
- Validated price list of the good(s) from the supplier(s) contracted by the Bank
For employees:
- A certificate of income is required
- Employer's pledge to transfer the monthly salary / installment (in the case of the entity’s pledge to transfer).
For self-employed:
- Copy of tax card
- License/permit to practice the profession, for self-employed
- Recent official extract from the commercial registry, for self-employed
- Bank statement for the previous 6 months or income statement from a public accountant, approved by the Central Bank of Egypt or the Egyptian Society for Accountants and Auditors.
For pensioners:
- Certificate of the monthly pension from the disbursing entity
- Beneficiaries of the pension statement (in the event of existing beneficiaries)
- Pledge to transfer the monthly pension (in the case of the entity
undertakes to transfer pension)
Additional benefits:
- Free life insurance policy throughout the loan period
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