Al-Rafidain Bank announced on Wednesday that the grant of an advance of 10 million dinars to employees of the private sector and mixed workers in hospitals and colleges and civil companies in the case of the salary of the monthly employee with allocations more than 500 thousand dinars.
The bank's information office said in a statement today that in the event of the salary of the employee ranges from 500 thousand dinars or less and grant the amount of the advance only 5 million.
The statement pointed out that the payment period of the 5-year advance payment of the installment installments and interest monthly within 60 months from the month following the date of granting the advance.
A bank earlier decided to grant advances to private and mixed employees working in hospitals, colleges and private companies to support the economic sector.
The bank's information office said in a statement that the loans granted to this important segment are in accordance with the terms and conditions which are:
- The amount of the advance (10) million dinars for his monthly salary (nominal + fixed allocations) more than (500000) five hundred thousand dinars and (5) million dinars for his monthly salary (nominal + fixed allocations) ranging from (500000) five hundred thousand dinars, Without
- The term of the advance (5 years) The payment of the advance and interest installments shall be made monthly within (60) months from the month following the date of granting the advance.
- The private sector (the hospital, the college or the private companies) or the companies of the mixed sector open a current account at one of the branches of the bank and settle the salaries of its employees (applicants) with the bank to issue MasterCard cards to them.
- Guarantee of the advance Provide the guarantee of civil servant from the state departments and the permanent staff covers (50%) of his salary.
- Insurance of the life of the borrower and at the expense of the taxpayer.
- Should not exceed the age of the beneficiary of (59 years) and the service of the private sector or the mixed sector for less than two years.
- Submit personal documents (civil status ID + nationality certificate or national unified card) in addition to the housing card for the applicant and the sponsor.
- A book issued by the employer in which the employee of the private or mixed sector supports the applicant to continue the service and the amount of nominal and total salary and net salary.
- Support from the municipal council in which he supports the title of housing (student advance) and certified signatures and official seals.