Al-Ahly Bank and Egypt offer a loan to pensioners and pay over 10 years
Both Al-Ahly Bank and Egypt provide a loan to all pensioners Or the beneficiaries of the pension from the children, the wife, the husband and others, but provided that the pension is transferred to the bank, and they asked the customer some important papers to approve the loan, such as a copy of a valid national ID card, an approved letter from the pension insurance and a receipt of modern services.
The details and conditions for the pension loan in the two banks are very similar in terms of the financing value, the interest rate and the required papers.
The value of the loan in the National Bank of Egypt ranges from 5 thousand pounds to 500,000 pounds, and the repayment period is from one year to 10 years. As for the interest rate, it is 13.5% annually, contradictory, and the administrative expenses are from 2.5% of the total loan value over a repayment period of less than 7 years. And the rate of 3% over the loan period for more than 7 years, and the age of the pensioner or beneficiary is not more than 65 years when the last installment of the loan is paid.
Banque Misr offers a loan from 5 thousand pounds to 500,000 pounds, and the repayment is from one year to a maximum of 8 years, and the interest rate is 13.5% on a decreasing annual basis, and administrative expenses are determined by the person responsible for the branch, and the value of the pension is up to 500 pounds as a minimum, The age of the borrower is not more than 65 years when the last installment of the loan is paid.