National Bank of Egypt

CBE Mortgage Initiative Social Housing Fund Projects - CBE's Mortgage Finance Initiative Middle Income 7%

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Monthly income : Net monthly income up to EGP 40,000 for an individual and EGP 50,000 for a household, with a minimum net income of EGP 8,000 for both. 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 3 years and up to 20 years. Service period: Six months for public and private sector employees and 12 months for business owners and self-employed. Unit price: Up to EGP 1 mn. Down payment: A minimum of 20% of the total unit price or 40% for pensioners, pension beneficiaries, business owners and the self-employed, and up to a maximum of 70% of the total unit price for all projects of the Social Housing and Mortgage Finance Fund. Loan amount: Up to 80% of the total unit price (and up to 60% of the total unit price for pensioners, pension beneficiaries, business owners and the self-employed). Maintenance deposit: A maximum of 5% 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 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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