Secured salary loan

Loan purpose:
Public and private sector employees who have regular salary income are eligible for this loan secured by immovable or movable property. 

Loan conditions:
Loan amount:   

Real estate                                                              
Up to total amount of  18 months’ salary
Interest rate:                 interest rate effective in the local area
Loan term:                    up to 36 months

Fees and commissions:
Acceptance fee:         1.0%

Requirements:

• Permanent resident of the area.
• Employed in the particular organizations at least 12 months.
• Employment history.
• Must be registered with Social Security Agency.
• The real estate or movable property is in the ownership of the borrower.
• Consent of co-owner, if any, authorizing the pledge of real estate or movable property.

Required Documentation:

• Personal ID.
• Passport photo 1 copy.
• Proof of residency.
• Notarized copy of the Social Insurance passbook.
• Reference letter from Employer.
• Supporting documents of family income.
• Copy of Labor Contract.
• Real estate title certificate, land title certificate.
• Reference letter from State Real Estate Registration Office confirming absence of lien or encumbrance  against the collateral property.
• Consent of co-owner, if any, authorizing the pledge of real estate or movable property.
• Vehicle certificate and list of home furniture and appliances.