National Bank of Egypt

CBE Mortgage Initiative Social Housing Fund Projects - CBE's Mortgage Finance Initiative Low income 5%- 7%

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Monthly income : This is determined by the Mortgage Finance Fund by an announcement, provided that the applicant has no unit in his/her possession, even by inheritance. Age : The borrower's age shall be at least 21 years on the loan granting date, and shall not exceed 60 years or the retirement age for employees, whichever is earlier, on the loan maturity date. Nationality : Resident Egyptians only. Minimum service period: 6 months for public and private sector employees and 12 months for business owners and self-employed. Loan Tenor: A minimum of 5 years and up to 20 years. Unit price: As determined by the Mortgage Finance Fund by virtue of an announcement. Down payment: A minimum of 20% of the total unit price or 40% for pension beneficiaries, and up to 60% of the total unit price. Loan amount: Up to 80% of the total unit price or 60% for pension beneficiaries. Debt burden ratio: The mortgage installment shall not exceed 40% of the customer's net income after excluding all sovereign deductions. Interest rate: 5% - 7% diminishing interest rate.

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