12% CBE Mortgage Initiative

About

The 12% CBE Mortgage Initiative is available for middle-income citizens where the interest rate is determined based on unit price and customer income. This initiative is for fully finished and ready-to-move-in housing units and real estate in various governorates of Egypt and cities of the new urban communities. The value of financing is up to 80% for up to 25 years.

Who is it For?

This initiative is for the below categories:
 

• Public, Private or Government Sector employees
• Business owners
• Self-employed professionals
• Employees who work overseas
   

Note: Employee must hold Egyptian nationality

What Do I Get?

1. Life insurance during the loan duration
    

2. Fast procedures with minimum documents

What Makes It Special?

The 12% CBE Mortgage Initiative enables you to own a property with many advantages, including:
 

• Financing the property you want to buy
• Affordable installments up to 25 years
• The property that you intend to purchase is the basic guarantee for obtaining financing
• The property that you intend to buy preserves the value of the loan for you. Rather, it is an investment, as we are buying at the current price and the property value is always increasing 
• Personal issuance which preserves the right to keep the unit in case of death
• Legal insurance, which is carried out by the legal department to preserve your rights and protect you from fraud
• Convenient monthly installment close to the new rent value with the benefit of owning the property after paying the installments

How Do I Get It?

• Determining your financial capabilities according to your income Debt Burdern Ratio (DBR) Choosing the appropriate property by identifying the property's ownership (studying the documents legally)
• Preparing the required documents to obtain financing (income documents and inquiry documents, in addition to the National ID and the utility bill of the current place of residence)
• Provide the documents to NBK - Egypt
• The actual evaluation of the price of the property (determining the work at the evaluation or sale price, whichever is better, to calculate the financing value)
• You can apply by filling the application form online or visiting your nearest NBK Branch.

Interest Rates

• Fixed interest of 12% throughout the installment period
• No evaluation fees
• No administrative fees
• No insurance fees
• CBE will cover all expenses

Tell Me More

• Terms and conditions apply
• Financing for fully finished and ready-to-move-in housing units
• Financing for real estate in various governorates of Egypt and the cities of the new urban communities
• Funding is available for employees (Public and Private Sector), business owners, liberal professions and Egyptians working overseas
• The value of financing reaches 80% of the property value
• Financing period up to 25 years
• Interest rate is 12% decreasing (return supported by CBE/ fixed installment throughout the financing period)
• Possibility of merging the income of the husband and wife
• Maximum price of a residential unit is EGP 2,500,000
• Value of the installment must not exceed 40% for real estate financing, so that the total obligations do not exceed 50%
• Minimum age of the customer is 21 years and the maximum age is 65 years at the end of the financing
• Monthly income of a single individual must not exceed EGP 40,000, and the family must not exceed EGP 50,000