Arab Finance: Ahli United Bank Egypt has launched the electric vehicle (EV) loan, with financing of up to 75% of the EV’s value at a maximum of EGP 2 million, an emailed press release showed.

Customers can repay the loan within two to seven years with administrative fees of up to 2% of the loan’s value, the bank’s Head of Retail and Private Banking Propositions and Products Development Mahmoud Gamal said.

The bank’s customers who own certificates of deposit (CDs) and savings certificates are eligible to apply for a collateral loan, with financing of 90% of the savings scheme, he added.

The loan is part of the bank’s emissions control initiative under the Green Finance program.

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