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Arab African International Bank – Car Loan with Salary Transfer

Features & Benefits

  • AAIB Car Loan starts from EGP 22,000 up to EGP 1,500,000
  • Flexible repayment plan for up to 7 years
  • Competitive interest rate
  • No ban on car sale or insurance
  • The bank can finance up to 100% of the car price
  • The bank can finance 3 cars for 1 customer after verifying the income criteria
  • Down payment up to 10%
  • No grantor is required
  • Free life insurance during the loan period

Eligibility & Documents Required

  • Minimum age 21 years old for salaried employees, Maximum 60 years
  • Car price quotation dated and with car specifications from an approved list of authorized dealers
  • Copy of valid national Identification card
  • Recent utility bill (gas, electricity, water, telephone)
  • Detailed proof of income required
  • 1.5% administration fees

This is a representative example of what it may cost: 16% APR Representative based on a loan of EGP 100,000 repayable over 48 months at an interest rate of 16% pa (fixed). Monthly repayment of EGP 2,780. Total amount payable EGP 133,427.46.

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