central bank new initiatives for real estate financing at 3%
Mortgage loans for low-income citizens, in accordance with the Central Bank of Egypt’s initiative
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Statement |
Funding Programs |
At a return rate of 3% |
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Low-income earners |
Middle-income earners |
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Maximum limit for residential unit (Maintenance deposit not included) |
As specified in the Real Estate Finance Fund Announcements |
Up to 1.1 million |
More than 1.1 million Up to 1.4 million |
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Maximum financing limit |
90% |
85% |
80% |
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Maximum monthly net income |
Single |
4500 EGP |
13K |
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Married |
6000 EGP |
18K |
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Maximum monthly installment |
A total of 40% of the net monthly income from the real estate financing loan can be used, as long as the overall monthly financial obligation does not surpass 50% of the net monthly income |
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Administrative expenses |
0.5% |
1% |
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Loan term |
Minimum amount |
7 Years |
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Maximum amount |
30 Years |
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Annual diminishing return |
3% |
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Installment payment method |
Either a set payment amount or a payment amount that increases over the course of the loan, depending on what they prefer. |
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Insurance |
Our bank covers the costs and charges of the insurance for both life and complete disability |
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The Central Bank is to provide real estate financing at a reduced interest rate of 3%.
These subsidized loans are available to several groups:
- Government, public sector, and public business employees
- Private sector and investment sector employees who meet the Bank’s requirements
- Self-employed professionals and business owners
- Retirees up to 75 years old at the end of the loan term
To qualify for a loan, the home must meet these conditions:
- No maximum size limit
- Must be for permanent residence, not for seasonal or tourist use
- Fully constructed and ready to inhabit
- Has functioning utilities (electricity, water, etc.)
- Legally registered and up to code, with no violations
- The loan amount includes any maintenance fees and administrative costs
The loans can be used to purchase:
- Homes registered to the seller or built on land registered to the seller
- Homes owned by city government offices and sold directly by the New Urban Communities Authority.
- Resale homes, such as those in Dar Misr, housing associations, etc.
- Homes owned by developers, housing associations, or other legal entities, provided the owner approves the sale ban.
