National Bank of Egypt

CBE Mortgage Initiative Individuals - CBE Mortgage Initiative Middle Income Individuals 12%

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Monthly income : Net monthly income up to EGP 40,000 for an individual and EGP 50,000 for a household. Age : The borrower’s age shall be at least 21 years on the loan granting date, and shall not exceed 65 years for all customer segments or the retirement age for employees, whichever is earlier, on the loan maturity date, and shall not exceed 65 years for pensioners only (subject to pension transfer). Nationality :Resident Egyptians only. Loan Tenor: A minimum of 5 years and up to 25 years. Service period: Six months for public and private sector employees (or 12 months for employees in case of salary/installment transfer), and 24 months for business owners and self-employed. Unit price: Up to EGP 2.5 mn. Unit specifications: The unit shall be fully finished and ready to move in, including all utilities (electricity and water meters). Down payment: A minimum of 20% of the total unit price and a minimum of 40% for pensioners. Loan amount excluding maintenance deposit: Up to 80% of the total unit price or the appraisal value, whichever is less, and up to 60% for pensioners. Maintenance deposit: A maximum of 10% of the unit price (the value of the maintenance deposit shall be included in the loan granted to the customer). Debt burden ratio:The mortgage installment shall not exceed 40% of the customer’s net income after excluding all sovereign deductions. The customer's overall debt burden ratio shall not exceed 50% for all the customer’s obligations.

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