Original or Supplementary credit cardholders, whether existing or new customers, can repay purchases made at any merchant in Egypt and abroad including non-NBE merchants in installments by calling the customer service hotline: 19623. The credit cardholders can contact NBE call center after making a purchase transaction as of the 1st day until the last day of the month of purchase, provided that the amount of such purchase is not less than EGP 500.

Benefits:

• • A competitive interest rate of 17% p.a. instead of 27% p.a. for unsecured credit cards and 22.8% p.a. for secured credit cards.
  • A full grace period plus the selected installment period.
  • When a customer requests to pay a purchase transaction in installments, He/she enjoys the benefit of not paying the total amount of the purchased transaction or the minimum payment during the grace period, but instead a fixed installment shall be paid depending on the installment period requested starting from the 3rd month.
  • The customer can make purchases at any merchant in Egypt or abroad including non-NBE merchants. Accordingly, a customer can benefit from discounts offered by non-NBE merchants, then request the payment of the purchase amount in installments.

For example:

• If the customer makes a purchase for EGP 1,000 on 1/1 and requests the payment of the purchase transaction in installments over six months on 5/1
• First: The purchase transaction amount will be refunded within the month of purchase.
•  Second: An installment commission of 4.78% of the purchase transaction amount will be charged to the credit card during the month of purchase for an installment period of 6 months which is equal to EGP 47.8 payable by the customer no later than 25/2 .
• Third: The first installment of EGP 166.67 (1,000/6) will be charged to the credit card on 26/2 and shall be payable by the customer no later than 25/3. Therefore, the customer enjoys a two-month grace period in addition to the requested installment period.

Terms and conditions:

The installment service over the phone allows NBE credit cardholders to pay for purchases in installments according to the following terms and conditions:

• It is available to NBE credit cardholders by calling NBE hotline: 19623, after making the purchase at any merchant in Egypt or abroad as of the 1st day until the last day of the month of purchase.
• The purchase transaction amount may not be less than EGP 500.
• Installment periods range between 3 months and 36 months (3 months – 6 months – 9 months – 10 months – 12 months – 18 months – 24 months – 30 months – 36 months).
• The purchase amount requested to be paid in installments must be debited from the credit card as a purchase transaction.
• There is no maximum number of purchase transactions payable in installments as long as they are within the customer’s credit limit.
• The customer must abide by the selected installment period ranging between 3 months and 36 months as the outstanding balance cannot be fully paid before the end of such periods unless the customer wishes to cancel the credit card.
• The customer shall pay the installment value in addition to the minimum amount due as per the total balance in the credit card statement in the month following applying for the service.
• All credit cards are eligible to this service.
• This service is only available for purchases made as of the 1st day until the last day of the month of purchase, any other purchases or indebtedness from previous account statements may not be paid in installments.
• Only the full amount of the purchase transaction may be paid in installments, not part of the purchase amount.
• To pay in Installments, the credit card account must be valid, payment cannot be made in installments in case the account is suspended for any reason whatsoever.
• This service is only available via calling the hotline, and may not be processed at any NBE branch.
• Any purchases made by the credit card in Egypt or abroad can be paid in installments. The installment and commission are calculated as per the EGP equivalent of the purchase transaction.
• The installment commission is paid in the month following the month of purchase and the first installment is paid before the 25th day in the month following the end of the grace period.
• The deadline for calling the hotline number 19623 to request the payment of the purchase transaction amount in installments is the last day of the month of purchase.
• The installment commission is calculated according to the installment period selected by the customer. The commission payable by the customer is determined as per the following table: