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Micro-Loans From Banque Misr 2022 Terms And Papers Required

Microloans from Banque Misr to get rid of unemployment. Banque Misr is one of the banks that works to provide all the needs of the Egyptian citizen, by providing many services and loans that help those wishing to start a small project according to the desire to provide many banking solutions to help the Egyptian youth This is according to certain conditions and documents necessary to approve the loan application.

Therefore, through money makers, we explain the types of microloans from Banque Misr.




Microloans from Banque Misr

Banque Misr is one of the well-established Egyptian banks, which was founded in 1920 AD by Talaat Harb, and his desire was to improve the economic situation of the Arab Republic of Egypt, in the period that came after the exit of British colonialism in Egypt.

As Egypt was suffering from economic stagnation, which led to the idea of ​​establishing a Talaat Harb Bank and benefiting from the funds to improve the economic situation in Egypt. After the passage of time, Banque Misr became one of the most important Egyptian and international banks, with its branches all over the world.

Recently, Banque Misr started offering many solutions through which micro-projects can be financed for applicants to apply for a loan, by going to the applicant's request for the disk to the bank employee and submitting all the necessary documents to approve the micro-loan application.

As the applicant gets approval on the same day and collects the loan amount on the next day, these loans came from the bank’s idea of ​​raising the economic situation of the country in addition to helping young people start successful projects and reducing the unemployment rate in Egypt.

In addition to the micro-loans from Banque Misr, which were characterized by a short period of time to obtain the loan, Banque Misr always wants to create banking solutions in order to facilitate all services to customers in order to save effort and time, so we explain in the following paragraphs micro-loans from Banque Misr:


1- First producer of micro-enterprises

Within the scope of talking about micro-loans from Banque Misr, we explain the necessity of displaying the name of the product or project, bearing in mind that the product expenses are 1% of the loan value, and the due date is calculated from the second day of the loan, in addition to the absence of a grace period. Among the advantages of the loan are the following:

  • The loan amount starts from 5,000 to 50,000 EGP.
  • The possibility of renewing the loan a second time in the event of paying the full loan dues to the bank.
  • The ability to quickly pay the full dues provided that Banque Misr receives a commission rate of about 3% on the entire remaining balance of the loan, bearing in mind that the loan can only be renewed if 6 months have passed from the due period.
  • The applicant for a microloan gets the loan in cash.
  • The interest for the delay is estimated at 4% of the contracted interest rate, and the customer has a grace period of up to three days without imposing a penalty.


Documents required for the first product of the micro-enterprise

Following the talk about micro-loans from Banque Misr, we explain the most important papers that must be present in order to approve a loan request from Banque Misr, including the following:

  • A copy of the lease contract in which the lease date and term of the contract are recorded.
  • A copy of the electricity, gas, or water bill in the name of the customer or the name of the shop owner, provided that the bill does not exceed three months.
  • A copy of the customer's valid identity card and guarantor card.


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2- The second product of micro-enterprises

According to the talk about micro-loans from Banque Misr, we explain below the features of the loan, in addition to the fact that it is necessary to specify the name of the product and the expenses of the product, which is 1% of the value of the loan, and the due date is set from the next day of disbursing the loan.

  • The loan amount starts from 50,000 to 250,000 Egyptian pounds.
  • The possibility of renewing the loan a second time in the event of paying the full loan dues to the bank.
  • The ability to quickly pay the full dues provided that Banque Misr receives a commission rate of about 3% on the entire remaining balance of the loan, bearing in mind that the loan can only be renewed if 12 months have passed from the due period.
  • Amounts up to 100,000 can be obtained in cash, including amounts exceeding that value obtained by the customer through bank checks.
  • The interest for the delay is estimated at 4% of the contracted interest rate, and the customer has a grace period of up to three days without imposing a penalty.


Documents required for the second product of micro-enterprises

After identifying all the features in the second product of microenterprise loans, we explain all the papers that must be available in order to approve the loan request from Banque Misr as follows:

  • A copy of the tax card and a tax position stating that there are no dues from the workplace.
  • Fulfillment of income and an approved budget for the loan of more than 100,000 Egyptian pounds.
  • A copy of the last insurance payment receipt.
  • Authorization from the client to deduct the value of the insurance policy issuance fees for the risks of non-payment of dues for the loan whose value exceeds 100,000 Egyptian pounds.
  • A copy of the commercial register for a period not exceeding three months.


3- Machinery dealers from micro-enterprises

By talking about micro-loans from Banque Misr, we explain the third type of these loans. The product name must be placed at the beginning of the loan application. The product expenses are 1% of the loan value, and the due date is set from the next day of disbursing the loan. Among the advantages of the loan are the following:

  • The loan value is determined as a maximum of 35% of the financial value of the machine, and the maximum for customers of other banks is 100.00 thousand Egyptian pounds.
  • The possibility of renewing the loan a second time in the event that all loan dues are paid to Banque Misr.
  • The ability to quickly pay the full dues provided that Banque Misr receives a commission rate of about 3% on the entire remaining balance of the loan, bearing in mind that the loan can only be renewed if 12 months have passed from the due period.
  • Disk cashing capacity.


Papers required for machine dealers from micro-enterprises

After getting acquainted with all the advantages of the machine dealer loan, we explain the documents required by Banque Misr to approve the loan application as follows:

  • A copy of the lease or ownership contract, including the specified period.
  • Electricity, water, or light bill in which the name of the customer or the name of the owner is registered, provided that the bill does not exceed three months.
  • A copy of the valid ID card of the customer and the guarantor.
  • Prepare an official extract from the commercial register not to exceed three months.
  • A copy of the tax card with proof that there are no tax dues on the workplace.
  • A statement of the working income and budget in case of requesting a loan of more than 100,000 Egyptian pounds.
  • A copy of the last receipt paid to the insurance.
  • Authorizing the client to deduct the value of the insurance fees.
  • Obtaining proof from the bank dealing with the customer showing all transactions on OS machines and QR Code machines for the current year.
  • A certificate from the insurance that proves that the person has not suffered from bankruptcy for the last five years.


Conditions for obtaining a micro-loan

To complement the discussion about micro-loans from Banque Misr, there are conditions that must be met in order to approve the loan application. In the following points, we explain these conditions:

  1. The business activity takes place in the same city in which the customer applies for a loan from the bank’s branches.
  2. The age of the applicant for loan medicine is not less than 21 years and not more than 65 years.
  3. It is not permissible to obtain a loan for small projects in the case of obtaining microfinance.
  4. The loan is requested for the customer and the facility together, but in the case of companies, it is not possible to request more than one person for the same company.
  5. The work must be practiced for at least one year, whether the client continues to work in the workplace or in residence.
  6. One of the conditions of the micro-loan is that the applicant should become literate.
  7. The applicant for the loan application must bring with him a guarantor who must be at least 21 years old and not be a guarantor of another client.
  8. The value of the monthly dues must be proportional to the customer's profit.

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