“Real Estate Loans for Low-Income Individuals: National Bank of Egypt and Social Housing Fund Partnership”

It is now available from the National Bank of Egypt to obtain the opportunity of a lifetime, a real estate loan, to obtain a lifetime apartment suitable for living life, within the framework of cooperation with the Social Housing Fund and support for real estate financing for low-income people, as the program provides some specific conditions and controls for obtaining a loan.

The Social Housing Fund is a fund that was established five years ago. It is a government agency concerned with real estate financing and social housing in Egypt. It was owned by the Egyptian state. It was established in early 2018. It is concerned, according to the law establishing it, to provide plots of land for construction and housing units for middle-income people. The program also aims To finance and manage various housing units, and is also active in supporting real estate financing activity, selling homes, and guaranteeing risks for non-payment of people.

While both (The National Bank of Egypt – Social Housing Fund) facilitate opportunities to obtain finished apartments with the longest possible repayment period within the framework of supporting middle-income people in facilitating marriage for them, while many people can obtain different real estate financing support from the bank and the authority with specific conditions.

Conditions for obtaining a mortgage from the National Bank of Egypt and the Housing Fund

To obtain a loan, the applicant must have the following:

• National ID Card.
• Registration certificate.
• Utility delivery.
• Income proof document.

Advantages of a real estate loan

A real estate loan has many different features, including:

1. The loan term is up to 30 years.
2. An amount of 10% of the unit value is paid.
3. The financing value is 90% of the unit value.
4. A maintenance deposit of 10% is paid.
5. Free life insurance policy.

Various loan expenses

There are some expenses related to the loan, including (0.5%) commissions, the amount of opening a new account with the bank, and a delay return on installments amounting to (2%).

Steps to obtaining an apartment in the National Bank of Egypt

In order to obtain the apartment provided by the National Bank, you will go to the nearest branch of the National Bank with the submission of documents and the preparation of the value of the amount to be paid, which is (10%) for the bank to start the procedures and contact you again when it is completed, with a monthly installment of 800 Egyptian pounds.