Rafidain Bank announces loans to help buy approaching reality apartments

2017/2/7 10:17

[In Baghdad]


Rafidain said the special instruction for granting loans to citizens registered in approaching reality project staff alike or non-residential.

He called the Bank's information office in a statement said all Iraq [where] "citizens to visit their website or branches covered by granting loans to see those instructions for granting those loans."

"The branches covered by loans to citizens, are: [al-Mustansir – the Caliphs – Secretary – safety – paradise – Zahra – underground – White Palace – Arabian – working district]".

And grant controls as follows:

1. the branch managers charged with receipt of tables names registered approaching reality project residential communications and information technology section after payment of the first instalment of 10% of the value of the dwelling unit and then be granted a loan of 80% of the value of the dwelling unit if the area of 100 square meters, and 75% in an area 120 mē and 70% to 140 was that no more than 75 million dinars. "

2. housing loan borrowers not of our bank or other banks or Bank and make the crossing by communications and information technology section.

3. loan period of 15 years.

4. pay the loan amount with interest over 180 monthly premium straight-way withholding begins I Parra of the month that follows the month grants.

5. meet the interest on the loan at 6% per annum.

6. undertake to invest after the recording unit in the name of the buyer not delivered only after the borrower buyer mortgage unit for first-degree bank and check mortgage and bond the lend.

7. the borrower shall bear administrative commissions by 1% percent of the total loan amount and the date of signing the contract.

8. the borrower's life insurance is one of Iraqi insurance companies approved under treatment within the Bank and the borrower's account.

9. grant available is the light travel credit and liquidity.


Rafidain Bank announced safeguards and procedures:

1. the borrower Bill of Exchange guarantee while demand add to ensure sponsor civil servant of the State departments installed on permanent or retired owners provided that covers 50% of the total net salary amount of monthly installment and interest by the borrower.

2. contract of purchase certified housing unit of investment to be mortgaged for Bank of first class plus other holdings of the student loan.

3. If the employee pay 40% of the value of the dwelling unit as a down payment on the loan is granted two batches without a sponsor and guarantee his salary.

4. the sponsor's service pledge to the Bank in accordance with the model annexed hereto.

5. when completing a transaction a loan unit the branch bills instruments model drawn on the Bank for the purpose of organizing the instrument's NIC/executing Committee draft approaching reality by undertaking to waive the loan from the borrower to fit body.

6. the borrower shall not perform any legal act on mortgaged property except with the consent of the Bank for the duration of the loan until actual payment for the full amount of the loan and interest in Nacala is reflected under the purchase contract signed with body falls right payments and premiums paid and relive the dwelling unit.

7. meet the stamp by 0.002 two thousand according to law.

8. organize a private contract between the Bank and the borrower rights 43.

He pointed out that there are advantages to advance full unit price as priority delivery or payment submitted more than 20%

The request for the loan is as follows:

1. loan application form

2. the deed of pledge and ensure

3. sponsor's service pledge

4. If the borrower service pledge.

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