|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|ALEXBANK - Mortgage (Alex Home)||Minimum Salary: EGP 2,500||Salary Transfer: No||Early Settlement Fees: No||Maximum Term: 15 Years||Flat Rate: 5.67%||Reducing Rate: 10.2%|
- Finance the purchase of residential, commercial and administrative properties
- Offered to Egyptians resident in Egypt
- Offered to salaried, self-employed & professional customers
- Financing amount up to EGP 5 million
- Flexible repayment period up to 15 years
- Finance up to 70% of the property value
- No guarantor required
- Simple procedures for life and property insurances
- Property registration procedures are done by the bank on behalf of the client
- Pre-approved credit card and overdraft limits
- Best service and lowest rates/charges
- Copy of national ID
- HR letter stamped by work /verified by bank including social insurance no
- Bank statements for the last three months.(If available)
- Recent utility bill
** 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.