SAIB Bank (Arab International Banking Company Bank) offers several financing programs to its clients to meet the needs of their different categories, including the SAIB real estate financing program according to the Central Bank’s initiative for middle-income people to finance the purchase of housing units.
“Al-Mustaqbal” reviews the details and advantages of the SAIB real estate financing program in accordance with the initiative of the Central Bank for middle-income people from SAIB Bank.
Advantages of the SAIB home finance program for middle-income people
Funding is available to employees (public/private sector), business owners and Egyptians working abroad
Financing can be made in various governorates of Egypt and the cities of the new urban communities
Financing value can be up to 80% of the property value.
Financing period of up to 20 years
Reducing rate of return 8% (fixed installment throughout the financing period)
The possibility of combining the income of the husband/wife
Life and total disability insurance during the financing period.
Fire insurance for the unit during the financing period
Conditions of the SAIB home finance program for middle-income people
The maximum price for a residential unit is 2,250,000 EGP.
The maximum space for a residential unit is 150 square meters net.
The value of all financial obligations with the real estate installment must not exceed 40% of the total income
The minimum age of the customer is 21 years old
The maximum age of the customer when the last installment is due must not exceed 60 years for employees and 65 years for self-employed and self-employed
– Monthly income for the individual: the individual income must not be less than 3,500 pounds and not exceed 40,000 pounds
The monthly income of the family: the family income must not be less than 5,700 pounds and not more than 50,000 pounds