In order to obtain these loans, the bank requires that the total monthly salary of the borrower be not less than EGP 5,000, while the estate be registered under the client’s name and remain mortgaged in favour of the bank until the loan is repaid.
The bank gives the customer a repayment period of up to 180 months, while the latter can choose paying on a monthly basis or in quarterly installments.
With regard to the procedures for obtaining a loan, the bank shows that if the borrower is an employee, they must submit a form for obtaining a loan, a valid national ID, permission for the bank to conduct an inquiry, a new utilities bill, and a letter from the HR department where the client works.
For private business owners, the bank requests a valid ID card, permission for the bank to conduct an inquiry, a new utilities bill, and an updated copy of their commercial registry and tax card.
For pensioners, the bank requests the form for obtaining the loan, a national ID, permission for the bank to conduct an inquiry, a new utilities bill, and a pension statement.
The bank also requests the building permit for the property to be financed, form No. 19, the official building permit, a privatisation declaration, the land ownership contract, a notarised property registration, and an inspection report from the relevant office.