The National Bank of Egypt grants employees working in government sectors a personal loan of up to 250 thousand pounds, without the need to transfer the monthly salary of the National Bank from another bank.
In fact, the advantage of obtaining a loan without salary transfer is not the only advantage of that financing from the National Bank, but rather it gives the bank an opportunity for borrowing employees to repay the loan over years up to 12 years, in addition to other advantages that we will show you in the following lines.
Advantages of employee loan from Ahli Bank
The loan amount is up to 250 thousand pounds without salary transfer.
The value of the loan will also rise to 300,000 pounds in the case of transferring the end-of-service gratuity.
The loan repayment period is up to 12 years.
Required terms and documents
The National Bank of Egypt revealed, through its official website, the conditions for obtaining the loan and the documents required for it, which include the following:
An approved letter from the employer is required, indicating the monthly income and the date of appointment.
An undertaking by the employer to transfer the salary or installment to the bank until the completion of the loan repayment.
A copy of a valid national ID card.
The borrower must be at least 21 years old and not more than 60 years old at the end of the financing.
Commissions and fees
The bank also announced the value of administrative expenses, which are estimated at 2% of the financing amount, to be paid once in advance, with a minimum of 250 pounds if the financing is paid over 7 years, and 3% with a minimum of 250 pounds if the financing is paid for a period of more than 7 years.
As for the accelerated payment commission for financing, the National Bank clarified that it amounts to about 5% of the amount paid in the event of cash payment, and 10% in the event of payment by any other means of payment.
He pointed out that a fine is imposed on the borrower in the event of delay in paying the monthly installment, and that fine is about 20 pounds per month, in addition to 2% of the due amount that has not been paid.