Terms and conditions of loans granted to citizens to purchase housing units

Select the Rafidain Bank, Sunday, terms and conditions of granting loans to employees and citizens for the purpose of purchasing residential units.

The below General Terms and controls:

(A) In the event that the student loan officers:

  • To be on the permanent staffing continuous service book of support from his constituency and is shown signing of the head of the department.
  • That covers 50% of the total monthly salary installment and interest amount.
  • That does not have received a loan from either residential or Rafidain Bank, Rasheed Bank or other banks.
  • It determines the amount of the loan on the basis of (100) salary My name does not exceed its highest level (75) million in the event that the nominal salary of the employee Student Loan least 400 thousand dinars per month to be granted a loan of no more than (40) million in the event of his desire to do so .

(B) In the event that the student loan citizen:

1. to have Iraqi citizenship who have completed 18 years of full civil and legal.

2. offers archives identity (identity card – certificate of citizenship – residence card) or the national card.

3. sign a pledge in favor of not granting a loan from our bank or Rasheed Bank or any other bank.

4. The amount of the loan (40) million, maximum.

(C) the loan term (15 years) repaid with interest over the (180) Premium on a straight (hard) and beginning of the month following the month of grants.

(D) the loan interest rate (10%) ten percent a year.

5. borrower provides mortgage support during a maximum period (6 months) from the date of receipt of the loan.

(F) a deduction for the premiums of the borrower through electronic payment tools if possible.

(G) guarantee loan mortgage property after scoring on behalf of the borrower in favor of the bank as well as the sponsor guarantor of loans granted to nationals of non-employees and to be an employee on the permanent staffing or customer has a documented loan facility guaranteed by real estate or submit a bill of exchange, while certified demand from the notary and in the case of non-payment three consecutive installments of the bill is implemented by the competent execution circuit without warning.

(H) does not exceed the amount of the loan granted to build residential unit price which is contained in the contract between the employee and the company executing the construction to be put on him (the amount submitted + all premiums paid in cash by the borrower before granting the loan).

(I) an on-site detection on the property in accordance with gripping identity and image under him (support) modern issued by the Land Registry department or investment related by a committee composed of (a specialist employee of the General Administration / Commission disclosure in section / expert Ahli / a representative of the Department resident Engineer of the company) in favor of the percentage of completion.

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