Personal Loan for Car Purchase for Pensioners

Personal loan for car purchase purpose offered to early retired Egyptians (civil or military citizens) with their pensions transferred to ALEXBANK

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  • Extended repayment up to 10 Years.
  • Competitive Interest Rate and charges
  • Minimum loan amount 5,000 EGP and maximum can reach up to 500,000 EGP
  • Flexiability to purchase new or used car
  • Without prohibition on car sale or car insurance
  • Free Life Insurance during loan period
  • Customers can choose interest rate calculation methodology (fixed Interest rate / Variable interest rate)*
  • Customers can postpone 12 consecutive installments at any time throughout the loan Tenure**

* Interest rates may vary according to The Central Bank of Egypt’s announced lending rate
** Pay interest only during postponement period
*** Terms and Conditions Apply

  • Minimum pension amount EGP 1000
  • Transfer pension to ALEXBANK account
  • Maximum customers Age 65 Years
  • Copy of National ID
  • Recent pension Certificate letter
  • Recent telephone, electricity or gas utility bill (maximum 3 months old)
  • Car price quotation
  • Pension transfer declaration
  • For Arm Force pensioners, a declaration from the Insurance and Pensions Authority at the Armed Forces is required declaring that the pension will continue being transferred unless a written notification from ALEXBANK is received.