Granting loans for the purchase of residential units in investment projects

Granting loans for the purchase of residential units in investment projects


3/20/2017 0:00

BAGHDAD / morning
Rafidain Bank decided to grant loans for the purchase of residential units in residential investment projects that are funded.
Press office of the bank said in a statement received "morning" a copy of it: " The bank decided to grant loans for those projects in order to support the employees and citizens, which amounted to the percentage of completion with 60 percent , " calling "slides covered to visit his site and its branches in Baghdad and the provinces for special instructions so. "
And the General Terms and controls for the granting of these loans mentioned media Rafidain Bank, in the event that the student loan officers must be "a permanent and ongoing staffing service book of the support of his constituency and is shown signing of the head of the department, and that covers 50 percent of the total salary premium amount and monthly interest, and not be It had received a loan from either residential or Rafidain Bank , Rasheed Bank or other banks. "
He added that " the amount of the loan is set at 100 nominal salary does not exceed the highest alone 75 million dinars In the event that the nominal salary of the employee Student Loan least 400,000 dinars per month to be granted a loan of no more than 40 million dinars in the event of his desire to do so."
In the event that the student loan citizen, referring to the statement that "the Iraqi nationality who have completed 18 years and full legal capacity and provides archives of identity (identity card - certificate of nationality - card housing) or a unified national card, with the signing of the pledge in favor of not to grant a loan from Rafidain Bank , Rasheed Bank or or any other banks. "
"As a loan amount of 40 million dinars maximum, and the duration of the loan to 15 years repaid with interest over 180 installments on a straight (hard) and beginning of the month following the month of grants, the loan interest rate of 10 percent annually, and offers the borrower a bond real estate within a maximum period 6 months from the date of receipt of the loan. "
He noted that " the deduction of premiums resulting from the borrower would be through electronic payment tools , if possible, with the guarantee of the loan mortgaging property after scoring on behalf of the borrower in favor of the bank as well as the sponsor guarantor of loans granted to nationals of non - staff and an employee on the permanent staffing or a client has a banking facilities documented guaranteed by real estate or submit a bill of exchange , while the demand certified by a notary public in the event of non - payment of three successive installments are executed promissory note to the competent execution circuit without warning. "
Rafidain Bank and stressed that "does not exceed the loan granted to build a residential unit price which is contained in the contract between the employee and the company executing the construction of that minus the sum of (amount submitted + all premiums paid in cash by the borrower before granting the loan)."
Wolf to "an on- site detection on the property in accordance with gripping identity and image under him (support, modern issued by the Land Registry department or related investment by a committee composed of ( a specialist employee of the General Administration / Commission disclosure in section / expert Ahli / Representative for resident Engineer Department of the company) in favor of the percentage of completion. "
and branch procedures in granting the loan, the statement that explained
one - submit a request in accordance with the attached form, as well as filling the support of employee circle models being affiliated to it (if the employee) and its commitment to pay the premiums through deducted from his salary and sent to the bank first hand in addition to the bill , while the demand amount, loan +20 percent certified by the notary department. "
2 - presents a picture under a modern version of the property on behalf of a student loan.
3 - original copy of the purchase contract between the borrower and the construction company that includes (unit price residential), as well as the amount offered paid in cash to the company by the borrower.
4 - provide archives tariff.
5 - record orders in a special program written for this purpose and provides student loan number and the date for the purposes of review.
6 - Asthsal if necessary endorsements for the health of the issuance of written support Wi - gripping Other branch sees the presence of unnecessary administration and according to estimates, the full responsibilities.
7 - The branch audited the treatment of all aspects and after checking the availability of all the conditions in the applicant 's health and the issuance of property and archives and other support.
8 - Send statistical transactions that were completed to the public / bank credit administration department , however , a certified branch, enclosed with a letter that includes a detailed schedule of grants.
9 - is to hold insurance on the dwelling unit for the benefit of the bank and at the expense of the borrower.
10 - is not the ownership of the housing unit transfer to third parties except after obtaining the approvals from the bank to rotate the loan to third parties ( the new beneficiary) or pay off the tally by the primary beneficiary.

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