Many banks have announced a loan for pensionerscoinciding with raising the interest rate, following the Central Bank’s decision to raise the interest rate on deposit and lending, during the past month, and we will learn in this report the full details in this report.
Loan for pensioners in several banks:
Loan value: from 5 thousand pounds to one million pounds.
Repayment period: from one year to 10 years.
Interest rate: 16.5% annually, decreasing.
Pension value: a minimum of one thousand pounds.
Age: Not more than 65 years old, when the last installment of the loan is paid.
2-Egypt Bank:
Loan value: from 5 thousand pounds to 500 thousand pounds.
Repayment period: from one year to a maximum of 8 years.
Interest rate: 16.5% annually, decreasing.
Pension value: 500 pounds as a minimum.
Age: Not more than 65 years old, when the last installment of the loan is paid.
3- Housing and Development Bank:
Loan value: up to one million pounds.
Repayment period: up to 10 years.
Interest rate: according to the condition of the pensioner.
Age: Not more than 65 years old, when the last installment of the loan is paid.
Minimum pension: one thousand pounds.
4- Cairo Bank:
Loan value: ranges from 3 thousand pounds to 500 thousand pounds.
Repayment period: from 6 months to 10 years.
Interest rate: 16.5% per annum, declining.
Age: Not more than 65 years old, at the time of paying the last installment of the loan.
Administrative fees: 2.5% of the total loan value, deducted once.
Minimum pension: one thousand pounds.
5- Nasser Social Bank:
Without interest or administrative expenses for needy families.
Loan amount: 10,000 pounds maximum.
Loan repayment period: 3 years, to be executed upon the death of the borrower.