Nasser Social Bank introduces easy personal financing for private sector employees

Daily News Egypt
2 Min Read

Nasser Social Bank has introduced personal financing options for employees working in major private sector companies and other banks. The bank aims to attract new customer segments and simplify their financial lives.

Nevine El Kabbaj, Minister of Social Solidarity and Chairperson of Nasser Social Bank, emphasized that the bank offers a range of tailored banking services to meet individual needs. These services include retail products, personal loans, car loans, and various types of deposits. The goal is to provide the best possible banking experience for customers.

For cash financing, the repayment period ranges from one year to seven years. To qualify, the customer’s salary or monthly instalment must be transferred to the bank, or a cash payment can be made to employees of other banks. The age requirement is between 21 and 60 years at the end of the financing period. The minimum accepted monthly salary is EGP 2,500, and the maximum financing limit is EGP 1m.

The necessary documents include a copy of the national ID card, a recent utility receipt, a certified letter from the employer stating the monthly income value, and the employer’s commitment to transfer the salary or monthly instalment.

Mohamed Abdel Fadil, First Deputy Chairperson of the bank, highlighted that enhancing customer experience and meeting their financial needs are top priorities. Personal account financing is a significant offering, benefiting pensioners and salaried individuals in both the government and private sectors. It remains the most popular financing option among customers.

In addition to cash financing, the bank provides car loans with similar specifications and guarantees, up to a maximum of EGP 1m. These loans are offered on easy terms, and the interest rates align with the bank’s applicable annual return.

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