central bank initiatives for real estate financing at 8%
Central Bank initiatives for real estate financing with a decreasing return rate of 8%
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Statement |
Pledge of salary transfer/clients who transfer their salary |
Proof of income |
Free professions and commercial activities |
Pensioners |
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Maximum financing |
80% |
75% |
60% |
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Maximum monthly net income |
Single |
40 thousand EGP |
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Married |
50 thousand EGP |
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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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Maximum for residential unit |
2.5 Million EGP |
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Financing value |
Minimum amount |
200 thousand EGP |
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Maximum amount |
2 Million EGP |
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Loan term |
Minimum amount |
5 years |
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Maximum amount |
25 years |
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Administrative expenses |
None |
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The percentage yield per year on the declining outstanding balance of a loan |
8% |
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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 65 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.
