National Bank of Egypt

CBE Mortgage Initiative Individuals - CBE Mortgage Initiative Middle Income Individuals 8%

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Monthly income : Net monthly income up to EGP 13,000 for an individual and EGP 18,000 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, or exceed 75 years on the loan maturity date for pensioners and pension beneficiaries. Nationality :Resident Egyptians only. Loan Tenor: A minimum of 5 years and up to 30 years. Service period: Six months for public and private sector employees (or 12 months for employees in case of salary/installment transfer), and 12 months for business owners and self-employed. Unit price: Up to EGP 1.1 mn. with a minimum down payment of 15%, or more than EGP 1.1 mn. and up to EGP 1.4 mn. with a minimum down payment of 20%. Down payment: A minimum of 20% of the total unit price (in case of salary/ installment transfer) and a minimum of 40% for pensioners and pension beneficiaries and up to a maximum of 70% of the total unit price for all the projects of the Social Housing and Mortgage Finance Fund. Loan amount excluding maintenance deposit: Up to 80% or 85% of the unit price or the appraisal value, whichever is less and up to 60% for pensioners and pension beneficiaries. 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 monthly income as per the applicable terms and conditions. The customer's overall debt burden ratio shall not exceed 50% for all the customer’s obligations.

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