National Bank of Egypt

CBE Mortgage Initiative Social Housing Fund Projects - CBE's Mortgage Finance Initiative Middle income 3%

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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. Period of service: 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. Loan Tenor: A minimum of 3 years and up to 30 years. 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 40% for pensioners and pension beneficiaries, and up to 70% of the total unit price for the projects of the Social Housing and Mortgage Finance Fund only. Loan amount: Up to 85% of the unit price or 80% of 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).

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