Mesopotamia: new facilities loans to purchase flats approaching reality and reduce interest rates to 4%

22/05/2017 09:38 | Hits: 255


New facilities announced Rafidain Bank to grant loans of up to 75 million dinars for employees and citizens to buy apartments from approaching reality project.

The Bank's information Office said in a statement "lhhasalt altatgah", that "the Bank put new conditions for granting loans and reduce interest rate up to 4 percent per year," calling on citizens and employees wishing to obtain a loan to "review its branches covered by grants and is (al-Mustansir-Caliphs-Secretary-security-paradise-Zahra-underground-White Palace-Arabian-inspired)".

And between the Bank grant controls:

1. the branch managers charged with receipt of tables names registered approaching reality project residential communications and information technology section after the first instalment payment (10%) The value of the dwelling unit and then loan rate (80%) Value of dwelling unit in space (100 mē) and (75%) Although space (120%) F (70%) Although space (140 m 2) to no more than (75) million dinars. "

2. borrowers should not be taking residential loan from Rafidain Bank or other banks or make the crossing by ICT.

3. the duration of the loan (15 years).

4. pay the loan amount with interest over (180) monthly premium straight-way withholding begins as of the month following the month of grants.

5. meet the interest on the loan rate (4%) Annually.

6. undertake to invest after the recording unit in the name of the buyer not to hand it only after the borrower (buyer) proved the housing unit for the Bank of first class and complete mortgage and bond the lend.

7. the borrower shall bear administrative commissions (0.5%) (Half a 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 from the ceiling of credit and liquidity.

Safeguards and procedures:

The borrower shall ensure the Bill while demand add to ensure sponsor civil servant of the State departments installed on permanent or retired Angel provided 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 payment (40%) 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. make a circle sponsor pledge.

5. when completing a transaction a loan unit the branch model instruments (bills) 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. meets stamp (0.002) (two thousand) according to the law.

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

There are advantages to advance full unit price, since priority receipt or payment submitted more than (20%).

The Cabinet was formed in 177 of last January Committee headed by Minister for reconstruction and the membership of a number of actors provide options for marketing the new town apartments apartment approaching reality and manage services across raised as an investment project while ensuring the safety of contracting procedures and guarantee the rights of citizens with international experience in this field.