Minimum Salary Salary Transfer Early Settlement Fees Maximum Term Flat Rate Reducing Rate
ALEXBANK - Alex Auto for Pensioners ALEXBANK - Alex Auto for Pensioners Minimum Salary: EGP 1,000 Salary Transfer: Yes Early Settlement Fees: - Maximum Term: 7 Years Flat Rate: 0% Reducing Rate: 0%
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Offered to Egyptians early retired clients (Civil or Military Citizens) with their pensions transferred to ALEXBANK

Features & Benefits:
  • Extended repayment up to 7 years.
  • Competitive interest rate and charges
  • Minimum loan amount 15,000 EGP and maximum 1 Million EGP
  • Down payment starting from 10%
  • No guarantor required
  • Free life insurance
Eligibility:
  • Minimum pension 1,000 EGP
  • Pension transfer to ALEXBANK account
  • Customers Age between 21 and 60 years
Required Documents:
  • Completed application form
  • Copy of National ID
  • Recent pension certificate letter
  • Recent telephone, electricity or gas utility bill (maximum 3 months old)
  • Pension transfer declaration
  • Price quotation issued to ALEXBANK
Representative example:

If you borrow EGP 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual profit rate of 4.6% you would pay:

Payment per month – EGP 297.50 | Total charge for credit – EGP 710 | Total amount you repay – EGP 10,710

Please note, the actual rate applied to your loan will depend on your circumstances.
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The calculated Annual Percentage Rate(APR) is determined using the annual interest rate on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator