National Bank of Egypt Mortgage Loan - Financing Affordable Housing

Minimum Salary needed Not mentioned
Maximum amount available Not mentioned
Length of Loan 20 years
Profit Rate Not mentioned
Upfront Fees ( if any ) Not mentioned
Eligibility The applicant must be carrying the Egyptian nationality; A copy of the national ID; Financing of the unit is subject to the approval of the Ministry of Housing or the Mortgage Subsidiary Fund. Further, applicants or any of their family members must not have previously benefited from any subsidies offered, whether through acquiring any subsidized residential units or a plot of the state lands allocated for the same purpose; The net monthly income must not exceed EGP 1,750 for the single applicant nor must exceed EGP 2,500 for the married applicant and his family (i.e. total income of the husband, spouse and the underage children must not exceed the maximum allowed); Monthly installments must not exceed 25% of the net approved monthly income; Applicant's age must not be less than 21 years old and not exceeding 65 years
old for self-employed applicants and 60 years old for employed applicants.
Main Features Financing procedures are simple and are completed within a short turnaround
time; The value of the unit to be finance shall be appraised through AMF by a certified
appraiser registered at the Egyptian Financial Supervisory Authority; A variety of payment methods/terms is offered; Finance is offered exclusively for properties within the Arab Republic of Egypt