|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|ALEXBANK - Loan with Installment Transfers||Minimum Salary: EGP 1,000||Salary Transfer: Yes||Islamic Finance: No||Maximum Term: 8 Years||Flat Rate: 0%||Reducing Rate: 0%|
Offered to Egyptians and Expatriate customers working at companies operating in Egypt with their installments transferred to ALEXBANK
- Extended repayment up to 8 Years
- Competitive interest rate and charges
- Minimum loan amount 5,000 EGP and maximum 750,000 EGP
- Pre-approved credit card & overdraft limits
- No guarantor required
- Free life insurance
- Completed application form
- Copy of National ID
- Recent telephone, electricity or gas utility bill (maximum 3 months old)
- Installment transfer declaration
- Recent salary certificate letter
- Minimum monthly salary of 1,000 EGP
- Transfer installment to ALEXBANK account
- Customer age between 21 years to 60 years and reaches 65 years for professors & councilors
** 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.