Banque du Caire decided to reduce the interest on personal employee loans by 3% for workers in the public and private sectors and to cancel administrative expenses.
Personal loans to employees
The measure aims to motivate customers to obtain loans and re-pump them for the purchase of consumer goods, according to the state’s plan to stimulate the purchase of a local product.
Interest on personal loans decreased, starting from 15.5% instead of 18.5% in the case of salary transfer, and the percentage of debt burden increases in the case of non-transfer of salary or self-employed, as well as according to the degree of classification of the company, either (A) or (B) or (C) .
Cairo Bank loan
- Details of the personal loan from Banque du Caire:
- The value of the loan: up to 1.5 million pounds.
- Repayment period: up to 7 years.
- Age range: 21 to 60 years max.
- Monthly income: not less than 300 pounds for public business sector employees, 1,000 pounds for government employees, and 2,000 pounds for private sector employees.
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