Baitak Ma’ana program enables you to purchase an apartment with subsidized interest rate and no extra financial burden according to the Central Bank of Egypt initiative for low and middle-income clients.
- Available for employed and self-employed
- Loan amount that could reach EGP855,000
- Available for Egyptians only
- Client age starts from 23 to 60 years old for employed and 65 years old for self-employed at loan maturity
- Taxes and fiscal stamps apply based on the current laws and regulations
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.