LOAN AMOUNT (Bank Exposure on Single Party)
Minimum AFN 500,000 - Maximum AFN 4,000,000
Minimum 50% of the total price
Term Loan only
PURPOSE OF LOAN/FINANCING
Purchase of Ready House / Flats
DURATION OF LOAN/FINANCING
Up to 5 years
There will be 2% penalty interest in case of late payment and compound interest will be applied.
Transfer of the ownership by way of Bai Jaizi / Tazmeen khat in the name of the bank for the same property purchased. Other collateral for the security of the facility till the transfer of ownership such as other property acceptable to the bank.
Earthquake and Fire insurance is needed and the cost to be borne by the applicant. (The insurance company view to be taken at initial stage)..
MUNICIPALITY AND OTHER COSTS:
Customer to bear all the costs of the property i.e: Municipality Tax, Transfer of ownership charges, Bai Jaizi costs… and Bank to receive the municipality tax receipt on year basis till liquidation of the loan.
PROCESSING FEE: - 1% Flat (one time)
INTEREST AND INSTALLMENT REPAYMENT
Interest and principal on Monthly basis.
CURRENCY OF LOAN
Currency of loans in AFN