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.
