Al Rasheed Bank explains the types of loans and advances to citizens and employees and their instructions
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Al-Rafidain Bank published the types and instructions of loans and advances to citizens and employees, and varied loans and advances between project loans and advances of retirees and advances of married and housing loans.
Types of loans and advances:
1. Small and craft projects loans.
The loan is granted to the owners of the small industrial projects approved and registered in the Federation of Iraqi Industries, the maximum amount of the loan equivalent to (12000) twelve thousand US dollars.
Loan period (4) years (first year qualification).
And paid in equal quarterly installments (every three months).
With a total interest rate of 6% per annum borne by the Ministry of Finance in full.
2 - The predecessor of retirees
The minimum amount of the advance payment (1,500,000) million and a half million and the maximum (3,000,000) three million dinars according to the salary of the pension.
The guarantor is a government employee who is a permanent employee or a pensioner, provided that the total deduction (50%) of the salary does not exceed.
Interest rate is 8%.
3 - lending the staff of the Bank of Rasheed and a number of ministries for housing and construction.
4. Pre-marriage (suspended until further notice).
The amount of the advance payment (3,000,000) three million dinars.
Interest rate (4%).
The National Insurance Company shall be the guarantor to pay the advance payment against a guarantee of ten thousand of the amount of the advance, which the banking system collects in advance and transfers to the National Insurance Company.
5 - Housing loans for citizens who own land plots in Rusafa by Baghdad and a number of governorates note that Karkh and some other provinces belong to Rafidain Bank (suspended until further notice).
The amount of the loan (30.000.000) thirty million dinars.
Loan period (15 years).
Interest rate (8%) per annum.
They are awarded in equal increments.
Securing the mortgage of the bank.
6. Individual and joint venture loans.
The amount of the loan from (2-10) million dinars.
Loan period is two years and grace period (3 months).
Interest rate (12%).
Warranty / Guarantor.