3% CBE Mortgage Initiative

About

The 3% CBE Mortgage Initiative is available for low and middle income citizens on fully-finished and ready-to-move-in housing units, and real estate in the various governorates of Egypt, in addition to the cities of the new urban communities. The value of the financing reaches 85% of the property value for middle income, and 90% for the low income citizens for up to 30 years.

Who is it For?

This initiative is for the below categories:

• Public, Private or Government Sector employees
• Employers
• Business owners
• Employees who work overseas

Note: Employee must be of Egyptian nationality

What Do I Get?

1. Fast procedures with minimum documents

2. Life and total disability insurance during the financing period

What Makes It Special?

The 3% CBE Mortgage Initiative enables you to own a property with many advantages, including:

• Provide the money you need to buy a property
• A simple and comfortable installment up to 30 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
• The real estate reserves the right to sell it to you in the event of inability to pay and complete the financing
• Insurance for you, which preserves the right to keep the unit in case of total disability or death
• Legal insurance, which is carried out by the legal department to preserve your rights and not be exposed to fraud
• A simple monthly installment close to the new rent value with owning the property after paying the installments
• The lowest rate of returns on real estate loans within the initiatives, with the value of the installment fixed throughout the financing period
• There is no product within the banks with the power of real estate financing to meet your living needs

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 + National ID and a 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 3% throughout the installment period 
• No evaluation fees
• Administrative fees are:
  • 0.5% for low income citizens
  • 1% for middle income citizens
• No insurance fees
• CBE will bear 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 or Private Sector), business owners, liberal professions and Egyptians working overseas
• The value of financing reaches 85% of the property value for the mid-income and 90% for the low-income
• Financing period up to 30 years
• Rate of return is 3% 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 1,400,000
• Value of the installment does not exceed 40% for real estate financing, so that the total obligations do not exceed 50%
• Minimum age of the customer is not less than 21 years and not more than 65 years at the end of the financing, and up to 75 years for pensioners (with payment of 40% of the unit value, as well as transfer of the pension to the bank)
• Monthly income of a single individual does not exceed EGP 10,000, and the family income does not exceed EGP 14,000