Conditions for obtaining National Bank real estate loans

The state is very interested in the real estate sector due to its great importance to the Egyptian economy, especially since it is one of the most prominent sectors that employ many young people and many young people and families need it to buy housing units, so the state tended to announce real estate financing initiatives.

The National Bank offers real estate loans, and the most important features of these loans are the following:

• Al-Ahly Bank loans to finance the finishing of residential units, where the bank provides loans to its customers who wish to finish residential units, whether administrative, commercial or residential, with a financing rate of up to 70% of the total finishing and the customer bears 30%, and the contract for the loan is between the bank and the contractor in charge of finishing the client's residential unit.

• The National Bank loans for the construction of housing units. These loans are provided in the event that the customer desires to purchase housing units by financing 80% of the value of the housing unit, provided that the bank is repaid through monthly installments, and the bank can be a participant in the purchase of the housing unit, provided that there is a contract between the customer and between the bank to own the housing unit after the end of the specified loan amount.

Conditions for obtaining National Bank real estate loans

Regarding the terms of the National Bank loans for finishing and building housing units

1. The monthly installment of the loan does not exceed 40% of the customer’s monthly salary.

2. The age of the person applying for the loan is not less than 21 years old and not more than 65 years old.

3. For a person wishing to obtain a loan for finishing and building housing units, in the event that he is an employee with no other income available, the maximum age is only 60 years, at the end of the financing period.

What are the documents required to obtain a loan from the National Bank for finishing residential units?

1. A copy of the valid national ID card.

2. A recent utility receipt, “electricity, gas, or telephone,” with the current address of the housing unit.

3. In the event that the person has another source of income, documents proving this income must be submitted.

4. Submitting a certificate issued by the employer stating the customer's net monthly income and annual income, in addition to clarifying the job and the period of service, in the case of working in a private or government agency.

5. Submission of a license to practice the profession for those who are self-employed, or the articles of incorporation of the company, in addition to an extract from the commercial register not exceeding 3 months old.

6. Submit a copy of the tax card.

7. Presentation of the syndicate card.

8. Submit a certificate proving the monthly and annual income obtained by the chartered accountant, along with submitting a bank account statement for the previous year.

9. Submission of 3 tax returns, or submission of 3 budgets approved by a chartered accountant.