- Financing procedures are simple and are completed within a short turnaround time.
- The value of the unit to be financed shall be appraised through AMF by a
- certified appraiser registered at the Egyptian Financial Supervisory Authority.
- Variety of payment methods.
- Finance is offered exclusively for properties within the Arab Republic of Egypt.
- Terms of finance are extended for up to 15 years.
- A copy of the national ID.
- Utility bill (electricity - telephone - water - gas) reflecting the applicant's residence address.
- A proof of income (HR Letter) from the employer including the net monthly income of the employee (applicant).
** 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.