Cairo – Mubasher: Housing and Development Bank (HDB) has raised the value of its auto loan portfolio to EGP 100 million since the official launch of the product early 2020, Akhbar El-Yom reported on Tuesday, citing the bank’s assistant managing director for retail banking and branches Walid Matar as saying.

The bank offers 10 car financing schemes which cater to the needs of all segments of the society, including government and private-sector employees, Matar added.

With an advance payment of 10% of the car price, loans are offered at competitive interest rates, he pointed out.

It is noteworthy to mention that the Central Bank of Egypt (CBE) raised the debt payments-to-monthly income ratio for personal loans and auto loans to 50% from 35%.