The Arab Investment Bank provides various banking services to individuals, including services in accordance with the provisions of Islamic Sharia, based on which a Sharia body operates according to Islamic banking standards, in addition to services for companies and institutions, and among the most prominent products of the Arab Investment Bank are loans, including personal loans, car loans and real estate loans, and in this article We will review auto loans from Arab Investment Bank, their benefits, required papers, guarantees, and all the details you would like to know about the loan to purchase a car.
Car loans from Arab Investment Bank
The advantages of a car loan from Arab Investment Bank
Car loans offered by Arab Investment Bank to its clients have several advantages, which include:
- The loan can be obtained without a down payment, and financing up to 100% of the car’s value.
- The loan amount reaches 750 thousand Egyptian pounds.
- The repayment period is up to 10 years.
- Competitive advantage.
- The minimum age of applicant must be 21 years, and a maximum of 60 years.
- For salary transfer customers, the minimum salary is 2500 pounds, and for non-salary transfer customers, the minimum salary is 5,000 pounds.
Those wishing to apply for a car loan must attach the following documents:
- A copy of the national ID card.
- Modern utility receipt (electrical, gas, water, telephone) bill.
- View the price of the car.
- For salary transfer customers (installment), attach an undertaking from the employer to transfer the salary.
- For customers without a salary transfer (installment), attach a documented or signed salary vocabulary to whoever has the right to sign
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Car loans with savings voucher guarantees (certificates) and required papers
You can apply for a car loan guarantee with savings savings (certificates). This loan is characterized by the following:
- There is no maximum loan limit.
- The term of the loan is up to 7 years.
- Funding reaches 95% of the collateral value (certificate).
- Competitive interest starting at 2.25% over the guarantee price.
- Minimum customer age 21 years and no maximum.
As for Paperwork To grant a car loan with a savings guarantee, it includes the following:
- Requesting a loan with savings certificates.
- Acknowledgment pledge.
- A copy of the ID card or passport with a valid residence visa for foreigners.