The Central Bank of Egypt initiative for the Social Housing and Mortgage Finance Support Fund customer category (programs 3%, 7%, and 5%, 7.5%, 8%, 12%)

The Housing and Development Bank obtains prior approval from the Social Housing and Mortgage Finance Support Fund, whereby the Bank receives applications for mortgage financing through the Social Housing and Mortgage Finance Support Fund (which calculates the subsidy rate and determines the final interest rate for the customer based on the income declared to the Fund). This initiative applies only to all units available through the Fund, subject to the following conditions:

Target Category:

• Low- and middle-income individuals

Program Features:

• A Central Bank–supported program; interest rates are not changed for the duration of the financing.
• Unit price in accordance with the announcement issued by the Social Housing and Mortgage Finance Support Fund.
• Minimum age 21 years.
• Long repayment periods (up to 30 years).
• Affordable monthly installments.
• Financing for ready residential units.
• Possibility to add additional income sources.
• Possibility to include the spouse's income.
• Specialized financing consultations.
• The maximum monthly income for customers is determined in accordance with the decision of the Board of Directors of the Social Housing and Mortgage Finance Support Fund and/or the Central Bank of Egypt.

Central Bank Initiative Program 8% Mortgage Financing

Target Category:

• Middle income (subject to the initiative's conditions)

Program Features:

• Declining interest rate of 8%.
• Financing up to 85% of the unit value (for units up to EGP 1,100,000).
• Financing up to 80% if the unit value exceeds EGP 1,100,000 and up to EGP 1,400,000.
• Repayment period up to 30 years or until reaching retirement age.
• Administrative fees 1%.
• Income aggregation allowed.
• Income limits: EGP 13,000 for single applicant; EGP 18,000 for family.

Central Bank Initiative 12% Mortgage Financing

Target Category:

• Middle income (subject to the initiative's conditions)

Program Features:

• Declining interest rate of 12%.
• Designed for the middle income segment.
• Financing up to 80% of the unit value, with a maximum financing amount of EGP 2,500,000.
• Flexible repayment terms (up to 25 years or until reaching retirement age).
• Income limits: EGP 40,000 for single applicant; EGP 50,000 for family.

Central Bank Conditions:

• No administrative fees (according to the program).

Conventional Mortgage Financing Program (Not Subsidized by the Central Bank)

• Applies to Companies & individual customers units/offices, for Residential, Administrative, Commercial, seasonal/summer units, and vacation properties.
• Financing up to 80% of the unit value.
• No maximum financing amounts.
• Repayment term from 1 year up to 15 years.
• Competitive interest rate.

Program Conditions:

• Minimum age 21 years.
• Maximum age at loan maturity: 60 years for employees; 65 years for business owners.
• Installment up to 40% of net income.

Mortgage Financing Secured by Certificates of Deposit

A program based on cash collateral (deposit certificates) to obtain mortgage financing under more flexible terms.

Features & Advantages:

• Greater flexibility in financing structure.
• Higher financing limits according to collateral (no maximum financing amount).
• Tailored solutions per client; available to both existing and new bank customers.
• Financing up to 90% of the residential unit value, not to exceed 90% of the value of the certificates submitted as collateral.

For More Information, please contact 19995.