Nasser Social Bank allows obtaining a car financing loan, which adopts the car financing system of all kinds, whether it is “fare / owners / microbus / motorcycles” with the aim of providing a job opportunity for citizens to improve their income in addition to providing a car for people with special needs.
Here are the details of the car loan from Nasser Social Bank and the controls for obtaining it, the due categories and all the details in accordance with the announced policy of the bank as follows:
Car loan from Nasser Social Bank
- Employees in the government sector, the public business sector and the insured private sector, andpensioners
- Civilians and military people with special needs.
Conditions for obtaining a car loan:
- The customer must not be less than 21 years old
- Down payment of the car value not less than 20%
- No advance payment and without prohibition in the event of transferring the salary or pension.
- Quotation for a car or motorcycle.
Car loan interest rate:
- In the case of a guarantor, a fixed annual return of 8.50% is required, in the event of transferring the client’s salary, the value of the monthly installment or the pension.
- If there is no transfer of salary or pension, 0.7% of the risk document is added.
- 1.5% of the value of the financing to be paid before grants, and 0.75% for the parties contracting with the bank.
- The term of financing the car loan from Nasser Social Bank should not be less than two years and not more than 7 and a half years.
- Debt burden ratio when getting the loan:
- It does not exceed 75% of the client’s monthly net income, and up to 90% in the case of additional income, in accordance with the terms and conditions.
Procedures for obtaining a car loan from Nasser Social Bank:
- Application for financing.
- View the car price.
- A valid copy of the national ID card.
- Salary, pension, statement of the share of the client, the heir of the pension, and for the guarantor, if there is a guarantor, a statement of employment status for the salary holders, and a statement of the pension for the pensioners or heirs.
- Customer’s acknowledgment of approval to issue a life insurance policy
- An acknowledgment from the customer that he agrees to issue a non-payment risk document if it is considered the guarantee provided.
- A recent utility receipt in the name of the client or one of his first-degree relatives.