CAIRO: Members of Gezirah, Shams, Heliopolis, and Sporting Alexandria clubs are now offered three credit options provided by the Arab African International Bank (AAIB) through the end of the month. AAIB offers club members the opportunity to own a credit card with a limit of LE 5000 without proof of income. The bank also discounted issuance fees by 50 percent and presents one of the most competitive interest rates set at 1.5 percent per month. As a bonus, cardholders will receive a free supplementary Visa Mini card - the latest payment innovation in Egypt offering a multitude of key benefits including convenience, flexibility, and security. "AAIB's Visa Mini is one more example of our continuous partnership with Visa, bringing the world's foremost banking technologies to Egypt, said Hassan Abdalla, AAIB vice chairman and managing director, in a press statement. He added that these offers aimed at providing innovative as well as effortless credit solutions at competitive market rates to an important segment of the society that was not targeted before. Club members can also buy a car under AAIB's auto loan credit option, with an interest rate of 13.5 percent and a down payment of 35 percent only. Members are given loans with relative ease upon presenting their national ID cards as well as club membership cards. In addition, the bank offers club members "multi-loan amounting to 15 times their gross salaries, with the lowest interest rate of 13 percent. The finance plan eliminates the need for a guarantor and extends over a six-year period.
