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Al-Rafidain sets the conditions for small business loans
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Economy News - Baghdad
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Added 01/26/2024 - 8:31 PM
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Economy News - Baghdad
On Friday, Rafidain Bank announced small project loans for shop owners and other professions, while revealing the conditions that must be met to grant borrowers.
The Rafidain Media Center said, in a statement seen by Al-Iqtisad News, that “the loan amount is 25 million dinars,” indicating that “the interest rate is 6 percent, with a decreasing installment system.”
He explained, “The loan repayment period is 6 years, including a 3-month grace period.”
He pointed out that "the loan guarantee shall be guaranteed by a citizen civil or military employee whose salaries are paid by the bank, or by guaranteeing a real estate mortgage in favor of the bank, provided that its estimated value covers the loan amount in addition to 25 percent of the loan value."
Views 86
Added 01/26/2024 - 8:31 PM
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