Banque Misr Consumer Loans - Loans for purchasing national goods and products

Minimum Salary needed Not mentioned
Maximum amount available Not mentioned
Length of Loan Not mentioned
Profit Rate A simple interest rate is charged to the total loan at 6% annually for the term of the loan, with no other commissions or charges
Upfront Fees ( if any ) Not mentioned
Eligibility The applicant should be a permanent employee, with more than three years of service with his current employer; The applicant should not have obtained previous loans from any branch of BANQUE MISR or other banks or agencies; The total loan shall be one quarter of the borrower's salary times the number of installments required (24 installments)
Main Features The interest collected shall be deducted from the amount of the loan or added, according to the wish of the client; A Guarantor from the same agency where the borrower is working should co-sign; Reciprocal loans can be given to both the borrower and the Guarantor, provided that 25 % of the salary of one of them covers the total amount of the two loans