​Commercial International Bank (CIB) announced the launch of a new auto loan service that provides credit approval on auto loan within two hours (only at nightshifts). 

This expansion comes as part of CIB’s strategy that aims at increasing its market share through improving and persifying loans programs, and revising loans policies for more flexibility and tailored to clients’ needs who want to buy a new car with the easiest procedures and lowest prices. 

As CIB is keen on providing its customers with all the credit facilities to help them buy their dream cars & as being one of 3 leading banks providing auto loans in Egypt, CIB offers 14 different auto loan programs, all segmented according to different needs of clients tiers, providing unprecedented flexibility and understanding to clients’ needs and capabilities. 

The new 2-hours credit approval service is distinguished by its minimal documentation requirements, making the process much easier with no hindering. Clients can apply for a loan only with their valid national ID and a down payment starting from 35% of the car value. 

Applicant can get a credit approval within 2 hours when visiting one of the CIB’s contracted car dealers showrooms during the nightshift, (only if the program applied for does not require work inquiries, or if the applicant’s workplace functions at night time).

CIB auto loan advantages include loan payment tenor up to 6 years, with a maximum loan amount of 600,000 Egyptian Pounds, and if salary is transferred to CIB, no down payment is needed. 

The bank’s extended relationship with its clients does not end there. CIB provides after sale services to its clients through a 24/7 call center, in addition to more than 155 branches the client can visit for any enquiries. 

To easily facilitate the loan repayment process for clients, CIB provides the possibility of depositing loan installments in its designated BNA ATMs available across Egypt, saving both time and effort every month. 

The new service is now being applied through the bank’s vast network of major car dealers in Cairo and Alexandria, and will be applied all over Egypt soon. 

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