The Commercial International Bank (CIB) launched a new personal loan programme, named “Solfa we Aman”, targeting low-income payroll customers. The programme offers flexible repayment plan along with micro-insurance benefits during the period of the loan.
The new personal loan is dedicated to customers with a monthly salary starting from EGP 2,600. The personal loan ranges between EGP 10,000 – 30,000. The loan offers customers repayment in fixed instalments over 12-36 months, and a full waiver of all administrative and assessment fees.
In addition, the bundle provides customers with automatic micro-insurance benefits, provided by AXA Life Insurance, for the duration of the loan tenor, which includes insurance on the outstanding dues of the loan as well as life and disability insurance.
“The new loan programme is the CIB’s latest offering, which targets segments of society that are often overlooked by the traditional banking sector, under our financial inclusion efforts,” said Ahmed Issa, CEO, Retail Banking at CIB.
“CIB is committed to government policies, in line with Egypt Vision 2030, to promote financial inclusion across the country and further integrate all segments of society within Egypt’s financial sector,” he added.
