Retail Banking Programs
With the
Egyptian Saudi Finance Bank you can make your dreams true through
the programs of Retail Banking especially designed to serve the
needs of employees of public, government and investment sectors,
joint stock companies, banks, holders of commercial activities,
and independent professions (accountants, lowers, doctors, and
etc), in addition to early-retired employees.
Retail banking
programs are as follows:
1- A financing
program for buying furniture, long- living commodities, electrical
devices, the finishing requirements of housing units and all other kinds of commodities.
2- A financing
program for buying new cars.
3- A financing
program for buying used cars.
4- A financing
program for buying medical equipments and devices necessary for
clinics, medical centers and laboratories (only for physicians).
The bank
also offers the following financing programs to customers of the
household sector who own the triple, quadruple, quintuple
certificates, and the multi-benefit document in L.E:
1- The
financing program with equal return.
(This program
offers finance that amounts to 85% of the certificates value
without accounting any return on finance, and equals the specified
return of the certificates).
2- The
financing program that exceeds the value of the owned certificates
(This program
offers finance with values that may reach to 200% of the
certificates true value, and for a financing period of 60 days).
3- The
financing program that equals the value of the owned certificates
(This program
offers finance with values equal to the certificates true value).
[The owners of
certificates have the chance to win Umrah prizes- and free
subscription prizes in ART system].
Limitations & Conditions Of Retail Banking Programs
Finance
Limitations:
1- Finance
contract will be signed in existence of a guarantor; however it
could also be signed without a guarantor in the following cases:
- getting the employees fund guarantee from the employer (for employees in
the government, public, and investment sectors).
- getting the guarantee of securing credit banking risks company (to
finance the process of furnishing clinics, laboratories and
medical centers).
2- The employer
is committed to transfer the salary of the borrower, or the
monthly installment to the bank.
3- The maximum
repayment period should never exceed 60 months in any way.
4- The maximum
age of both the borrower and the guarantor should be 60 years at
the end of the repayment period.
5- The monthly
installment should not exceed in any way 25% of the borrower
monthly income.
6- The maximum
range of finance starts from 50000 L.E to 200.000 L.E, determined
by the nature of the desired finance program, and the working
activity of the borrower.
7- The maximum
percentage of finance ranges from 75% to 100% (from the purchasing
power, and determined by the nature of the desired finance
programs).
8- Wining the
prize of early repayment (difference of the return) if the
borrower managed to repay the finance before the end of repayment
period.
Basic
Conditions:
*
The minimum income should be:
- 500 L.E
monthly (to finance the employees of the government, public, and
investment sectors).
- 2500 L.E monthly (to finance holders
of commercial activities, and other independent professions).
* The minimum
range of finance starts from 2000 L.E to 10.000 L.E determined by
the nature of the desired financing program, and the borrower
activity.
* The borrower
must be Egyptian.
* The interest
rate on finance is 8% annually for financing employees of
government, public, and investment sectors, and 9.5% annually for
holders of commercial activities and other independent
professions.
*In addition to
the rest of conditions that organize dealings with each program.
Essential documents needed from both
the borrower and the guarantor:
1- A photocopy
of the borrower and the guarantor’s ID card.
2- One of the
following documents:
* A photocopy
of the registered house lease or house property contract.
* Electricity,
gas, water receipt, or a phone bill. ( all the documents must
belong to the borrower or his/her husband or wife).
3- Filling in
the form of credit facilities.
4- A written
approval from both the borrower and the guarantor to declare their
consent on the bank's investigations about them.
5 - A statement
of the monthly/annual income, and the due liabilities. The
statement must be issued by the employer (for employees of the
government, public sector), and by the auditor (for holders of
commercial activities and other independent professions.
*Additional
documents needed from holders of commercial activities:
1- A photocopy
of the commercial register.
2- A photocopy
of the taxation card.
3- A
certificate of the taxation status certified by the auditor of
both the establishment and the borrower.
* Additional
documents needed from holders of independent professions:
1- A photocopy
of profession practicing license.
2- A photocopy of hospital or clinic
license (for physicians).
3- A photocopy of syndicate
subscription document (membership card).
4- One the following documents:
* A photocopy of the registered house
lease, or house property contract.
* Electricity, gas, water receipt, or
a phone bill. (All the documents must belong to the borrower or
his/her husband or wife)
5- A certificate of the taxation
status certified by the auditor. For further inquiries, don’t
hesitate in calling any of our branches, or calling Retail
Banking general administration in our main office.
GO For Gold… Go For E.S.F.B.
|
