2023-08-14 17:43:56
The interest of the personal loan from the National Bank of Egypt
The interest of the personal loan from the National Bank of Egypt, as the National Bank of Egypt has provided many personal loans to its customers that are commensurate with all their financing needs, and these loans are characterized by the fact that their benefits are not in large proportions and are decreasing, and through this article on the Egypt Brief website, we will explain the interest of the loan The profile of the National Bank of Egypt and its types.
Types of personal loans from the National Bank of Egypt
The National Bank of Egypt has provided many different types of personal loans to its customers, which suit each category of them and meet their financing needs. Below, we will present each type of these loans in detail:
To find out the details of opening an account in the National Bank of Egypt and the most important necessary conditions, read this topic: Method and conditions for opening an account in the National Bank of Egypt
1- Cash personal loan for government employees
The bank offers this type of personal loan to government, public and business sector employees. To obtain this loan, the following documents are required to be submitted to the bank:
A letter approved by the current employer of the person applying for the loan, indicating the amount of the monthly salary and the date of joining the job. Submitting an undertaking from the borrower’s current employer to transfer the monthly salary or pay the loan installments on behalf of the borrower on a regular basis. A copy of the borrower’s national ID card, which must be valid while applying for the loan. A recent electricity bill not more than three months old, and its value must not be less than 10 pounds as a minimum.
This type of personal loan has many advantages, the most important of which are the following:
The value of the loan ranges from a minimum of 5,000 Egyptian pounds to a maximum of 500,000 Egyptian pounds, in the event that the guarantee is the transfer of the monthly salary, and it may reach one million Egyptian pounds in the event that the guarantee is the transfer of a service bonus. The age of the borrower should not be less than 21 years at the time of applying for the loan and not more than 60 years at the time of paying the last installment of the loan. The loan is repaid over a large period of time ranging from one year as a minimum to 10 years as a maximum. The monthly salary of the borrower should not be less than 500 Egyptian pounds. That the employee has served in the current position for a period of not less than 3 months, and that the remaining years of his service are not less than the number of years during which the loan will be repaid. The bank provides life insurance for the borrower in the event of death or total disability. Opening a free checking account for the borrower. No guarantor is required to obtain this loan. No credit inquiry fees are paid. Enabling the payment of installments for other loans.
The administrative fees for the loan must also be paid, which are as follows:
Payment of administrative fees of 2% of the total loan amount in the event that it is repaid over a period of less than 7 years, but in the event that the repayment period is longer than that, then the administrative expenses amount to 3%. Early settlement commission, which amounts to 3% of the amount paid in the event of early payment, or 10% in the event that payment was made in any other way. Pay a fine of 2% of the due amount in case of late payment of the monthly installment.
2- Cash personal loan for employees of the oil and gas sector
The bank provides this type of personal loan to employees in the petroleum and petrochemical sector. To obtain this loan, the following documents are required to be submitted to the bank:
A letter approved by the current employer of the person applying for the loan, indicating the amount of the monthly salary and the date of joining the job. Submitting an undertaking from the borrower’s current employer to transfer the monthly salary or pay the loan installments on behalf of the borrower on a regular basis. A copy of the borrower’s national ID card, which must be valid while applying for the loan. A recent electricity bill not more than three months old, and its value must not be less than 10 pounds as a minimum.
This type of personal loan has many advantages, the most important of which are the following:
The value of the loan ranges from a minimum of 5,000 Egyptian pounds to a maximum of 700,000 Egyptian pounds, in the event that the guarantee is the transfer of the monthly salary, and it may reach one million Egyptian pounds in the event that the guarantee is the transfer of an end-of-service reward. The age of the borrower should not be less than 21 years at the time of applying for the loan and not more than 60 years at the time of paying the last installment of the loan. The loan is repaid over a large period of time ranging from one year as a minimum to 10 years as a maximum. The monthly salary of the borrower should not be less than 800 Egyptian pounds. That the employee has served in the current position for a period of not less than 3 months, and that the remaining years of his service are not less than the number of years during which the loan will be repaid. The bank provides life insurance for the borrower in the event of death or total disability. Opening a free checking account for the borrower. No guarantor is required to obtain this loan. No credit inquiry fees are paid. Enabling the payment of installments for other loans.
The administrative fees for the loan must also be paid, which are as follows:
Paying administrative fees at a value of 2% of the total loan amount in the event that it is repaid over a period of less than 7 years, but in the event that the repayment period is longer than that, then the value of administrative expenses reaches 3% with a minimum of 250 pounds. Early settlement commission, which amounts to 3% of the amount paid in the event of early payment, or 10% in the event that payment was made in any other way. Pay a fine of 2% of the due amount in case of late payment of the monthly installment.
3- Cash personal loan for employees of multinational companies
The Bank provides this type of personal loan to employees of multinational companies, joint-stock and holding companies listed in the Bank, and in order to obtain this loan, the following documents are required to be submitted to the Bank:
A letter approved by the current employer of the person applying for the loan, indicating the amount of the monthly salary and the date of joining the job. Submitting an undertaking from the borrower’s current employer to transfer the monthly salary or pay the loan installments on behalf of the borrower on a regular basis. A copy of the borrower’s national ID card, which must be valid while applying for the loan. A recent electricity bill not more than three months old, and its value must not be less than 10 pounds as a minimum.
This type of personal loan has many advantages, the most important of which are the following:
The value of the loan ranges from 5,000 Egyptian pounds as a minimum to 400,000 Egyptian pounds as a maximum, in the event that the guarantee is the transfer of the monthly salary, and it may reach one million Egyptian pounds in the event that the guarantee is the transfer of the end-of-service reward. The age of the borrower should not be less than 21 years at the time of applying for the loan and not more than 60 years at the time of paying the last installment of the loan. The loan is repaid over a large period of time ranging from one year as a minimum to 10 years as a maximum. The monthly salary of the borrower should not be less than 1000 Egyptian pounds. That the employee has served in the current position for a period of not less than 3 months, and that the remaining years of his service are not less than the number of years during which the loan will be repaid. The bank provides life insurance for the borrower in the event of death or total disability. Opening a free checking account for the borrower. No guarantor is required to obtain this loan. No credit inquiry fees are paid. Enabling the payment of installments for other loans.
The administrative fees for the loan must also be paid, which are as follows:
Paying administrative fees at a value of 2% of the total loan amount in the event that it is repaid over a period of less than 7 years, but in the event that the repayment period is longer than that, then the value of administrative expenses reaches 3%, so that it is not less than 250 pounds as a minimum. Early settlement commission, which amounts to 3% of the amount paid in the event of early payment, or 10% in the event that payment was made in any other way. Pay a fine of 2% of the due amount in case of late payment of the monthly installment.
To find out more information regarding the benefits of the savings book in the National Bank, read this topic: The benefits of the savings book in the National Bank
4- A cash personal loan for employees of government agencies and the business sector without a salary transfer letter
In order to obtain this loan, the following documents must be submitted to the bank:
A letter approved by the current employer of the person applying for the loan, indicating the amount of the monthly salary and the date of joining the job. A copy of the borrower’s national ID card, which must be valid while applying for the loan. A recent electricity bill not more than three months old, and its value must not be less than 25 pounds as a minimum. Landline phone bill.
This type of personal loan has many advantages, the most important of which are the following:
The loan amount ranges from a minimum of 5,000 Egyptian pounds to a maximum of 30,000 Egyptian pounds. The age of the borrower should not be less than 21 years at the time of applying for the loan and not more than 60 years at the time of paying the last installment of the loan. The loan is repaid over a large period of time ranging from one year as a minimum to 4 years as a maximum. The monthly salary of the borrower should not be less than 1000 Egyptian pounds. That the employee has served in the current position for a period of not less than 6 months, and that the remaining years of his service are not less than the number of years during which the loan will be repaid. The bank provides life insurance for the borrower in the event of death or total disability. This loan does not require a guarantor
The administrative fees for the loan must also be paid, which are as follows:
Payment of administrative fees of 2%, to be paid once and not less than 250 Egyptian pounds. Early settlement commission, which amounts to 3% of the amount paid in the event of early payment, or 10% in the event that the payment was made in any other way. Pay a fine of 2% of the due amount in case of late payment of the monthly installment.
5- Cash personal loan for employees of the oil and gas sector without a salary transfer letter
In order to obtain this loan, the following documents must be submitted to the bank:
A letter approved by the current employer of the person applying for the loan, indicating the amount of the monthly salary and the date of joining the job. Bank statement. A copy of the borrower’s national ID card, which must be valid while applying for the loan. A recent electricity bill not more than three months old, and its value must not be less than 25 pounds as a minimum. Landline phone bill.
This type of personal loan has many advantages, the most important of which are the following:
The loan value ranges from a minimum of 5,000 EGP to a maximum of 150,000 EGP. The age of the borrower should not be less than 21 years at the time of applying for the loan and not more than 60 years at the time of paying the last installment of the loan. The loan is repaid over a large period of time ranging from one year as a minimum to 4 years as a maximum. The monthly salary of the borrower should not be less than 1000 Egyptian pounds. That the employee has served in the current position for a period of not less than 6 months, and that the remaining years of his service are not less than the number of years during which the loan will be repaid. The bank provides life insurance for the borrower in the event of death or total disability. This loan does not require a guarantor
The administrative fees for the loan must also be paid, which are as follows:
Paying administrative fees of 2% of the total loan amount, with a minimum of 250 EGP. Early settlement commission, which amounts to 3% of the amount paid in the event of early payment, or 10% in the event that payment was made in any other way. Pay a fine of 2% of the due amount in case of late payment of the monthly installment.
6- Cash personal loan for employees of multinational companies without salary transfer letter
In order to obtain this loan, the following documents must be submitted to the bank
A letter approved by the current employer of the person applying for the loan, indicating the amount of the monthly salary and the date of joining the job. Submitting an undertaking from the borrower’s current employer to transfer the monthly salary or pay the loan installments on behalf of the borrower on a regular basis. A copy of the borrower’s national ID card, which must be valid while applying for the loan. A recent electricity bill not more than three months old, and its value must not be less than 25 pounds as a minimum.
This type of personal loan has many advantages, the most important of which are the following:
The loan amount ranges from a minimum of 5,000 EGP to a maximum of 400,000 EGP. The age of the borrower should not be less than 21 years at the time of applying for the loan and not more than 60 years at the time of paying the last installment of the loan. The loan is repaid over a large period of time, ranging from one year as a minimum to 5 years as a maximum. The monthly salary of the borrower should not be less than 1000 Egyptian pounds. That the employee has served in the current position for a period of not less than 6 months, and that the remaining years of his service are not less than the number of years during which the loan will be repaid. The bank provides life insurance for the borrower in the event of death or total disability. This loan does not require a guarantor.
The administrative fees for the loan must also be paid, which are as follows:
Paying administrative fees of 2% of the total loan amount, with a minimum of EGP 250. Early settlement commission, which amounts to 3% of the amount paid in the event of early payment, or 10% in the event that the payment was made in any other way. Pay a fine of 2% of the due amount in case of late payment of the monthly installment.
7- Cash personal loan, loans to bank employees
The bank provides this type of personal loan to bank employees, and in order to obtain this loan, the following documents are required to be submitted to the bank:
A letter approved by the current employer of the person applying for the loan, indicating the amount of the monthly salary and the date of joining the job. Submitting an undertaking from the borrower’s current employer to transfer the monthly salary or pay the loan installments on behalf of the borrower on a regular basis. A copy of the borrower’s national ID card, which must be valid during the loan application and proves the current job. A recent utility bill not older than three months as a maximum, and its value must not be less than 25 pounds as a minimum, and it must be registered in the customer’s name.
This type of personal loan has many advantages, the most important of which are the following:
The loan amount ranges from a minimum of 5,000 EGP to a maximum of 500,000 EGP. The age of the borrower should not be less than 21 years at the time of applying for the loan and not more than 60 years at the time of paying the last installment of the loan. The loan is repaid over a large period of time ranging from one year as a minimum to 7 years as a maximum. The monthly salary of the borrower should not be less than 1000 Egyptian pounds. That the employee has served in the current position for a period of not less than 6 months, and that the remaining years of his service are not less than the number of years during which the loan will be repaid. The Bank provides life insurance for the borrower in the event of death or total disability. This loan does not require a guarantor
The administrative fees for the loan must also be paid, which are as follows:
Paying administrative fees of 2% of the total loan amount, with a minimum of EGP 250. Early settlement commission, which amounts to 3% of the amount paid in the event of early payment, or 10% in the event that the payment was made in any other way. Pay a fine of 2% of the due amount in case of late payment of the monthly installment.
The interest of the personal loan from the National Bank of Egypt
The National Bank of Egypt reduced the interest rate on personal loans as follows:
The interest rate on new personal loans has been reduced by 0.5% in order to attract customers to obtain preferential loans from the bank. For old loans, the interest rate will remain the same until the customer finishes paying the last installment of the personal loan that he obtained. As for loans for government employees whose salaries are transferred, the interest rate has decreased to 16.75%, while in the case of non-transfer of salary, the interest value has decreased to 17.25%. As for loans for private sector employees whose salaries are transferred, the interest value decreased to 17.25%, and for those whose salaries are transferred individually, the interest value decreased to 17.5%. As for loans for self-employed workers, the interest rate decreased to 19.5%.
It may also help you to review the following topics: How to calculate interest on a savings account
At the end of our topic, we have provided you with details of the personal loan interest from the National Bank of Egypt and all its types, and we hope that the topic will satisfy you and benefit you.
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