Emirates NBD Egypt launches 4 new Auto Lending Programs
Financing 50% of car’s value without an insurance policy
By Eman Hamed
Emirates NBD Egypt has announced the launch of a bundle of auto lending programs. The diversified programs meet the customers’ different needs and requirements with the easiest and most convenient procedures.
Emirates NBD Egypt is the first bank to offer “instant approval” on auto loans, where borrowers can have their loans in 30 minutes, with financing 50% of car’s value without investigation. In addition to, another program with an offer to finance 60% of car’s value and a cash back. This offer is valid till the end of March 2022.
The bank is also offering three more programs, the first of which provides financing 50% of car’s value, capped at EGP 500K with no insurance policy required. The second program offers financing 50% of car’s value while facilitating the payment of the car insurance policy for the 1st year in fixed monthly installments.
The final program offers financing 30% of car’s value. Neither the insurance policy nor the car sale restriction is required. This program is valid only for authorized car dealers. It is developed for those who prefer to pay in cash to avoid both obligatory “insurance policies” and the “car sale restriction”.
“We seek to satisfy all customers’ different needs through our various auto lending programs with competitive interest rates, instant approval and convenient procedures. We hope that such services and products succeed in meeting our customers’ needs, and furthermore, contribute to boosting the auto market, eventually benefitting the national economy,” said Mohamed Berro, CEO, Emirates NBD Egypt.
It is worth mentioning that Emirates NBD Egypt is a pioneer when it comes to leading the market in facilitating the traditional loan procedures, while offering diverse programs in line with the auto sector’s actual needs.