Banks in the banking sector grant many facilities to grant loans and savings vessels that suit the requirements and needs of citizens, the most prominent of which are the loans of pensioners, given that they represent a large segment of society. Which we will explain to you in detail as follows:
Pensioners loans from Bank of Alexandria
- The loan amount is up to 3 million pounds
- Financing period: The repayment period is up to 12 years
- Features: Life insurance throughout the financing period
- Terms of loan for pensioners from the Bank of Alexandria
- The age of the customer is not more than 65 years
- Submit a copy of the national ID card.
- Undertaking to transfer the pension to the Bank of Alexandria.
- A recent utility bill (gas, electricity, telephone), not older than 3 months.
Pensioners loan from Banque Misr
- The loan amount is up to 500 thousand pounds.
- The longest installment period is up to 8 years for the original pensioner, and 7 years for the pensioner.
- Free life insurance policy.
- No guarantor is required for the customer.
- The interest rate is 14.5% decreasing annually.
- Possibility to purchase loans from other banks.
- The minimum pension must be 500 pounds.
- The customer must not be over 65 years old at the end of the loan term.
- Loan application.
- A copy of the national ID card.
- Pension statement approved by the transferring authority.
- Up-to-date utility receipt.
- Pensioners loan from the National Bank
- The value of the loan financing is up to 500 thousand pounds
- The term of the loan is up to 10 years.
- Free life and total disability insurance.
- Without a guarantor or credit inquiry charges.
- Interest: 13.5% decreasing annually.
Required conditions and documents:
- A copy of the valid national ID card.
- The age of the borrower should not be more than 65 years at the end of the financing.
- The minimum transferable pension must be EGP 1,000.
- The customer undertakes to transfer the pension to the bank for the duration of the financing period.
- Administrative fees: 2% of the finance amount is paid once in advance, with a minimum of 250 pounds if the financing is repaid over 7 years, and 3% with a minimum of 250 pounds if the financing is repaid for a period longer than 7 years.
- 5% prepayment commission for financing.
- A fine for late payment of the installment 20 pounds per month + 2% of the amount due and not paid