بنك البركة

Al Baraka Bank – Car Loan

Features & Benefits

  • Albaraka Car Loan up to EGP 1,000,000 for new cars
  • Flexible repayment plan for up to 5 years for used cars and 7 years for new cars
  • Competitive interest rate
  •  Finance up to 75% of the car price for used cars and 80% for  new cars
  • A cheque will be delivered to the authorized dealer from the bank
  • The finance plan is compliant with Islamic Sharia
  • 20% down payment required for new cars
  • No grantor is required
  • Receiving a reward in case of the early loan settlement
  • Monthly instalment is less than 40% of the gross salary

Eligibility & Documents Required

  • Minimum age 21 years old for salaried employees, Maximum 65 years
  • Car price quotation dated and with car specifications from an approved list of authorized dealers
  • Copy of valid national Identification card
  • Valid driving licenses card
  • Recent utility bill (gas, electricity, water, telephone)
  • Ownership contract for the current residence


This is a representative example of what it may cost: 18% APR Representative based on a loan of EGP 100,000 repayable over 48 months at an interest rate of 18% pa (fixed). Monthly repayment of EGP 2,868. Total amount payable EGP 137,676.

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