If you are thinking of starting a project of your own and need a loan in 2025, where do you start and go to which bank, and which is the best bank that offers loans in a short period of time, and what is its interest rate, and its most important benefits.. We will tell you all the details in this video, so follow us until the end.
Of course, there are many young people who like to start their own project, and at this particular time the state is encouraging young people to do so, so that they can achieve good financial profits and begin their career in the world of business.
For this reason, there are many Egyptian banks that provide loans for small projects and also facilitate their procedures and you can take them as quickly as possible. Among these banks is the Bank of Egypt, which launches an Express Murabaha system for small projects with a Sharia leasing system in accordance with the provisions of Sharia, which reaches the value of financing to 5 million pounds over a period of time. Payment period up to 5 years
Banque Misr allows financing approval within only 5 working days, and the customer can submit only 5 documents for the loan.
What is the interest rate on this loan?
Look, sir, if you run a small project, but it is subject to the initiative of the Central Bank, you will receive a low rate of return of up to 5%, but for the rest, the rate of return will be decreasing, and it includes all the burdens for companies that are not subject to the initiative of the Central Bank.
What are the conditions for obtaining financing?
Financing is available to individual establishments, whether they have an account in the Bank of Egypt or not, and also to companies of individuals who have an account in the Bank of Egypt only, but the capital must not be less than 50,000 pounds, and the age of your project must not be less than one year.
We come to the advantages of this financing, the first of which is flexibility of demand, which means that the customer is able to choose the amount and financing period that suits the needs of his project.
The second thing is the possibility of tracking the stages of your request for financing with complete transparency, and after a while you can obtain your profit within 5 working days from the date of submitting the request, and only that, sir.
Aside from financing your project, Banque Misr also provides loans to purchase used cars.
This loan is available to employees in government agencies, the public sector and public businesses, as well as employees in the private sector, and professionals and freelancers.
As for the conditions, they are a competitive return rate, the minimum age of the borrower is 21 years, the maximum loan is 4 million pounds, the financing rate is 100%, and the financing period is up to 72 months.
If you want to apply for this loan, some documents are required, such as a copy of a valid national ID card, an original receipt for utilities at the client’s residence (gas, electricity, water, telephone), a copy of the car license, and also a paid-up car insurance policy in favor of our bank.
For those with liberal professions and commercial and industrial activities, documents are added, such as a copy of a recent official extract from the commercial registry, and a copy of a license/permit to practice the profession (for liberal professions).
This loan has additional advantages, which are that the customer has a free life insurance policy throughout the life of the loan, and it is permitted to license the vehicle in the name of a third party of the family. Also, the maximum age of the vehicle at the end of the financing period for German vehicles reaches 120 months and for other vehicles except Chinese-made vehicles. 96 months.
If you are intending to obtain a loan, prepare your number and go to the nearest branch of the Bank of Egypt to you.
