8% Middle Icome | 3% Middle Income | 3% Middle Income | |
---|---|---|---|
Maximum Value of Unit |
EGP 2.5 million |
More than EGP 1.1 million and up to EGP 1.4 million |
Up to EGP 1.1 million and less |
Minimum Down Payment |
20% of the total unit value | 20% of the total unit value | 15% of the total unit value |
Maximum Monthly Net Income |
Single: EGP 40,000 Family: EGP 50,000 |
Single: EGP 13,000 |
Single: EGP 13,000 |
Interest Rate | 8% |
3% |
3% |
Maximum Loan Tenor |
25 years | 30 years | 30 years |
Administrative Fees (unrelated to the Social Housing and Mortgage Finance Fund) |
None |
1% of the loan amount | 1% of the loan amount |
Total Value of Installments in Percentage |
Total value of installments should not exceed 40% of monthly net salary |
Total value of installments should not exceed 40% of monthly net salary |
Total value of installments should not exceed 40% of monthly net salary |
Unit Features |
Fully finished with facilities |
Fully finished with facilities |
Fully finished with facilities |
Application Fees |
Free |
Property Assessment Fees |
Free |
Registration Fees |
Free |
Life Insurance Throughout Loan Tenor | Free |
Property Insurance Throughout Loan Tenor |
Free |
Early Settlement Fees |
None (customer repays subsidized interest amounts in full, calculated from the date of receiving the loan until the early settlement date, according to the rates set by the CBE) |
Late Settlement Fees |
2% added to the applied interest rate and applied to the overdue amount |