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How to get personal or mortgage loans from CIB?

Commercial International Bank -- Egypt (CIB) offers personal loans ranging from EGP 5,000 to EGP 1m without any guarantees, with a repayment period of up to 120 months.

The bank additionally provides free life insurance for each borrower until the end of the loan period and allows borrowing with client's deposits or savings certificates as guarantees.

Loans can be repaid through more than 180 branches and more than 80 ATMs.

This funding scheme is available to employees whose salaries are transferred to the bank as well as those with non-transferable salaries and freelancers.

To obtain this loan, if their salary is transferred to the bank, a client must provide a completed loan application form, a copy of their valid national ID card, and a telephone, electricity, or gas bill no older than three months.

If their salary is not transferred to the bank, a client shall present the aforementioned documents, a recent monthly salary payslip or a bank statement for the last six months.

For business owners and self-employed workers, a client shall present the aforementioned documents, a personal or the company's bank statement for the last six months, and a copy of a valid trade register (record) or equivalent. The bank can require more documents, depending on each client's case.

The bank allows its customers to apply for a personal loan by sending the word "PL" in a message to the number: 16644.

CIB also offers mortgage loans that finance up to 80% of the value of the property.

The loan value ranges from EGP 120,000 to EGP 5m. The repayment period is up to 20 years. The age of the borrower must range from 21 to 60 years old for employees, and 21 to 65 years old for employers and self-employed persons.

To obtain this loan, the client must provide a completed loan application form, a copy of their valid national ID card and a recent telephone, electricity, or gas bill.

If their salary is transferred to the bank, a client shall present the aforementioned documents and a recent monthly salary payslip.

If their salary is not transferred to the bank, a client shall present the aforementioned documents and a personal bank statement for the last six months.

For business owners and self-employed workers, a client shall present the aforementioned documents, a personal or the company's bank statement for the last six months, and a copy of a new valid trade register (maximum three months old) or certificate of practicing their profession, a copy of their tax card, and a recent certificate of tax status issued by a legal accountant.

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Publication:Daily News Egypt (Egypt)
Date:Mar 3, 2018
Words:445
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