The “Taxi Loan” program will offer loans to taxi drivers without down payments with facilitated conditions.

George Aouad, Head of Retail Banking Division at BOB, said that the bank will provide four-year credit facilities to customers willing to buy new cars at an interest rate of 5.5 percent.

The bank will also provide four-year, loans to taxi drivers willing to buy red plats as well used cars (2004 Model and afterwards) at an interest rate of 6.5 percent, Aouad said.