Rafidain Bank announced today, Saturday, the granting of real estate loans worth 150 million dinars with a decreasing interest.
The bank stated in a statement , that “the most prominent terms and conditions for real estate loans from Rafidain Bank are as follows:
- A loan of up to 150 million dinars is the maximum.
- For the purpose of buying a piece of land, from (50) million dinars to (75) million dinars.
- Amounts allocated for building, repair, and rehabilitation will increase from fifteen million dinars to seventy-five million dinars.
- For the purpose of buying a residential home, apartment, or unit in a residential complex, from (50) million dinars to (150) million dinars, progressively rising by (5) million dinars
- There is a six percent interest payment that is decreasing.
- The loan length is fifteen years, and the loan guarantee is based on the grant-eligible categories.
- Workers whose wages are only paid by Rafidain Bank; a MasterCard card serves as a guarantee, and a real estate bond mortgaged as a first-class security mortgage in the bank’s favor (loan amount + 25%) is submitted.
- Citizens: A guarantor whose income is solely domiciled with Rafidain Bank and a real estate deed mortgaged in the bank’s favor as a first-degree insurance mortgage (loan amount + 25%) are required to offer the guarantee.
- Retirees who, at the conclusion of the loan period, fall within the insurance age range: The guarantee will take the form of a MasterCard and a real estate deed mortgaged as a first-degree insurance mortgage (loan amount + 25%) in the bank’s favor. If an individual’s age surpasses the insurance age prior to the loan term ending, they must furnish a guarantor whose income is solely based with the bank and a real estate deed mortgaged in the bank’s favor as a first-degree insurance mortgage (loan amount + 25%).
