National Bank of Egypt

CBE Mortgage Initiative Social Housing Fund Projects - CBE's Mortgage Finance Initiative Middle Income 12%

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Monthly income : Net monthly income up to EGP 20,000 for an individual and EGP 25,000 for a household as amended according to the announcements of the Social Housing and Mortgage Finance Fund. 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. Service period: Six months for public and private sector employees and 12 months for business owners and self-employed. Loan Tenor: A minimum of five years and up to 20 years. The minimum loan tenor can be reduced to three years as determined by the Social Housing and Mortgage Finance Fund. Unit price: As determined by the Social Housing and Mortgage Finance Fund. Down payment: A minimum of 20% of the unit price or 40% for business owners, the self-employed, pensioners and pension beneficiaries, and up to 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% of the unit price or 60% for business owners, the self-employed, pensioners and pension beneficiaries. Maintenance deposit: A maximum of 5% of the unit price. This percentage may be amended in future announcements as per the terms and parameters of each announcement (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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