Al-Rasheed sets the mechanism for granting loans to repair housing units without a guarantor
Al-Rasheed sets the mechanism for granting loans to repair housing units without a guarantor
7/5/2020 18:38
[Baghdad_Eye]
Al-Rasheed Bank, today Sunday, specified the mechanism for granting loans to repair housing units without a guarantor.
The bank stated, during the documents it viewed, that “the conditions that must be met for granting the loan that the maximum loan amount be 40 million for employees and 30 million for citizens who are not employees, provided that determining the amount of the outstanding loan is at a rate not exceeding 50% of the net salary of the borrowing employee.” .
“The loan disbursement will be in two installments, at the rate of 60% of the first installment of the loan amount for employees and 75% for non-employee citizens, provided that the loan period is 10 years from the date of granting the first installment of the amount.”
He continued, “The interest rate is 5% annually, calculated by the straight-line method and paid monthly with the monthly installment. The calculation of the monthly interest according to the formula (loan amount * interest rate) / 12% and meets an administrative commission at 2% of the loan amount granted.”
He explained that “the borrower must bear all mortgage fees, disclosure fees, financial stamp fees, and legal fees according to the laws, regulations, and instructions in force,” stressing that “granting these loans to residential units located in Baghdad and the provincial center exclusively.”
As for the conditions that must be met in the applicant of the loan, the bank stressed that “he must be an Iraqi national, fully qualified and not less than 18 years old, and that he should not have a housing loan granted to him from any bank that has not been paid in full, and that the employee requesting the loan be appointed to the permanent angel and installed in one of the State departments, and he continues to serve and his service is not less than two years, “stressing that” priority is given to the citizenship of their salaries with the bank from holders of the MasterCard Nakheel card exclusively. ”
alliraqnews.com
