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"Government" real estate loans with amounts up to 150 million dinars.. Conditions and details
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2024-09-28 01:31
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2024-09-28 01:31
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Shafaq News/ The government-owned Rafidain Bank announced on Saturday the offering of real estate loans of up to 150 million dinars to citizens, employees and retirees, with a decreasing interest.
The bank's management explained in a statement received by Shafak News Agency, the details of the terms and conditions for these loans.
Below are the most important terms and conditions for real estate loans from Rafidain Bank:
The maximum loan amount is 150 million dinars.
- From (50) million dinars to (75) million dinars for the purpose of purchasing a plot of land.
- From (15) million dinars to (75) million dinars for the purpose of construction, restoration and rehabilitation.
- From (50) million dinars to (150) million dinars for the purpose of purchasing a residential house, apartment or residential unit in residential complexes, gradually increasing by 5 million dinars.
- Interest rate (6%) with decreasing installments
- Loan term (15) years.
Loan guarantee according to the categories covered by the grants
A- Employees whose salaries are domiciled exclusively with Rafidain Bank shall be guaranteed by a MasterCard and the submission of a real estate deed mortgaged in favor of the bank as a first-degree security mortgage (loan amount + 25%).
B- Citizens: The guarantee shall be to provide a guarantor whose salary is domiciled exclusively at Rafidain Bank and to provide a real estate deed mortgaged in favor of the bank as a first-degree security mortgage (loan amount + 25%).
C- Retirees whose ages are within the insurance age at the end of the loan period.
The guarantee shall be a MasterCard and the presentation of a real estate deed mortgaged in favor of the bank as a first-degree security mortgage (loan amount + 25%). As for those whose ages exceed the insurance age before the end of the loan period, it is required to present a guarantor whose salary is domiciled exclusively with the bank and to present a real estate deed mortgaged in favor of the bank as a first-degree security mortgage (loan amount + 25%).
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The bank's management explained in a statement received by Shafak News Agency, the details of the terms and conditions for these loans.
Below are the most important terms and conditions for real estate loans from Rafidain Bank:
The maximum loan amount is 150 million dinars.
- From (50) million dinars to (75) million dinars for the purpose of purchasing a plot of land.
- From (15) million dinars to (75) million dinars for the purpose of construction, restoration and rehabilitation.
- From (50) million dinars to (150) million dinars for the purpose of purchasing a residential house, apartment or residential unit in residential complexes, gradually increasing by 5 million dinars.
- Interest rate (6%) with decreasing installments
- Loan term (15) years.
Loan guarantee according to the categories covered by the grants
A- Employees whose salaries are domiciled exclusively with Rafidain Bank shall be guaranteed by a MasterCard and the submission of a real estate deed mortgaged in favor of the bank as a first-degree security mortgage (loan amount + 25%).
B- Citizens: The guarantee shall be to provide a guarantor whose salary is domiciled exclusively at Rafidain Bank and to provide a real estate deed mortgaged in favor of the bank as a first-degree security mortgage (loan amount + 25%).
C- Retirees whose ages are within the insurance age at the end of the loan period.
The guarantee shall be a MasterCard and the presentation of a real estate deed mortgaged in favor of the bank as a first-degree security mortgage (loan amount + 25%). As for those whose ages exceed the insurance age before the end of the loan period, it is required to present a guarantor whose salary is domiciled exclusively with the bank and to present a real estate deed mortgaged in favor of the bank as a first-degree security mortgage (loan amount + 25%).
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