QNB
QNB

3% CBE Mortgage Finance Initiative for Low & Middle Income

Benefits:

  • Available for Egyptians only.
  • Freedom to choose the repayment duration that could reach up to 30 years, to match your financial capacity.
  • Subsidized decreasing interest rate of 3% over the loan duration.
  • Free life and property insurance benefits throughout the loan duration.
  • Benefit from having your unit evaluated by registered appraisers for free.
  • Freedom to choose between various repayment methods to match your financial capabilities; fixed or increasing installments.
  • Possibility of installing administration and maintenance fees throughout the loan duration with the same initiative interest rate.

Income Conditions

Income Conditions

Maximum Net Monthly income*

Maximum Unit Value (excluding unit Maintenance fees and Admin fees)

Minimum Down Payment of total unit price

Low Income

(Cases will be handled in coordination with Mortgage Finance Fund)

Single:

Married (combined income with spouse):

EGP 4,500

EGP 6,000

To be determined according to Mortgage Finance Fund (MFF

10% of total unit price

Middle Income

Single:

Married (combined income with spouse):

EGP 13,000

EGP 18,000

Up to EGP 1.1 Mio

15% of total unit Price

More than EGP 1.1 Mio till EGP 1.4 Mio

20% of total unit Price

* 20% from total monthly income shall be deducted, in case net monthly income is not stated in the income Letter.

Financed unit Conditions:

  • Unit must be fully finished with utilities and ready to move.
  • Unit must be for residential purpose only and not licensed for touristic residency.
  • Freedom to choose the unit you desire in any governorate; whether registered OR valid for registration, both inside and outside new urban communities.

 

*Terms and conditions apply

Was this information helpful?