The terms of Rafidain Bank loans 2022 are now available to everyone, as many Iraqis resort to loans to cover their various needs, and therefore they search for these conditions, from here and through the money makers website, we will know for you all the terms of Rafidain Bank loans 2022
Rafidain Bank loan terms 2022
Al-Rafidain Bank is one of the banks that has many advantages, and it is also easy to obtain a loan through it. Despite this ease, several conditions must be met to obtain the loan, and these conditions are as follows.
- That the person is an employee in one of the state departments.
- There is no other financial disclosure to another bank.
- The age of the person who wants the loan should not exceed 50 years.
- The loan amount is determined by first looking at the electronic card.
- To be a holder of Iraqi nationality.
- The person must be over 18 years old.
- That person is the owner of the property registered in the registration department.
- You can repay this loan for over 60 months only.
- The salary obtained by the applicant should be 500 thousand Iraqi dinars.
Benefits of Rafidain Bank loans 2022
There are several benefits that the bank grants to customers, and the most important and prominent of these benefits are the following.
- Persons holding a MasterCard, their loans are interest-free.
- The interest of the loan of 5 million Iraqi dinars is 2,700,000.
- The interest of the loan amounting to 10 million Iraqi dinars is 5400008.
- An amount of 15 million Iraqi dinars, with an interest rate of 8100016
- The loan, which is estimated at 20 million Iraqi dinars, has an interest rate of 10800016.
- As for loans amounting to 25 million Iraqi dinars, the interest rate is 13,500,000.
How to apply for a loan in Rafidain Bank 2022
To apply for a loan, several methods may help you get it quickly, so we will show you these methods below.
- Choose the type of loan you wish to obtain.
- Enter the MasterCard account number.
- Write down your phone number.
- Write the verification code that is sent to you by phone, and this number consists of 4 digits.
- Click on the Apply for Loan button.
Types of loans in Rafidain Bank 2022
There are many types of loans in Rafidain Bank for the year 2022, which we will present to you in the following paragraphs:
1- Investment Housing Loan
This loan is one of the most popular loans in the bank, and therefore these loans amount to 50 million Iraqi dinars, and it is characterized by the sixth period of up to 180 months, and it is also characterized by an interest rate of up to 10%
2- Operational loans for hotels
They are loans of up to 50 million Iraqi dinars, and this amount is considered a maximum loan, the repayment period is 24 months, and the interest rate for these loans is up to 9%.
3- Funding and research loans
They are loans amounting to 50 million dinars, and this amount is the maximum for those who want this loan, and the repayment period for this loan is only 24 months, and the interest rate is up to 8%
4- Small business loans
They are loans that people resort to carrying out some small projects. Therefore, these loans are distinguished by their amount, which is a maximum of 15 million dinars, and they are characterized by a low interest, which is 7%, and this loan is repaid over 36 months.
5- Loans for doctors and pharmacists
These loans are distinguished by being among the loans whose amount ranges from (25 to 40) and from (60 to 75) million Iraqi dinars, and they are repaid for a period of up to 36 months, and the interest rate is about 9%
6- Car loans at Al-Rafidain Bank
Al-Rashideen Bank is characterized by being one of the most banks, which deals with several different car companies.
Therefore, the loan amount is from 20 to 25 million Iraqi dinars as a maximum, and Rafidain Bank is distinguished by its ability to give loans to purchase new cars for employees in all governorates of Iraq.
This loan is repayable over 5 years, and the interest on this loan is 9%.
7- School loans
Loans are granted to owners of educational schools, and this loan is characterized by the ability of all schools located in all governorates of Iraq to obtain it.
But there are several conditions that schools must meet to obtain the loan, and these conditions are as follows.
- The school must be officially registered with the Ministry of Education.
- Submit all school documents (lease contract - company names).
- Submitting a feasibility study for the school.
- Submit the deed of the property that will be mortgaged for the school.
- The loan must be covered by a government insurance company.
- The loan term shall be 4 years as a maximum for the amount of one hundred and fifty million Iraqi dinars.
- The loan term shall be 3 years for an amount of one hundred million Iraqi dinars.
- The loan interest is 8%.
- This interest is to be paid over 3 months.
- The loan amount that the school wishes to obtain does not exceed 150 million Iraqi dinars.
- The school should be a private educational school, such as (kindergarten - primary - and secondary).
8 Seniors loans
Al-Rafidain Bank grants loans to the elderly who hold a MasterCard, and these loans are as follows.
- The loan should be a minimum amount of 3 million dinars, and a maximum of 8 million dinars.
- The interest shall be 50% of the retired person's salary.
- The repayment period shall be 3 years.
- The interest rate for this loan is 7%.
- This loan is granted to the original retired holder of Iraqi nationality.
- The retiree should not have other loans.
- The retiree must submit all documents proving the expiration of any other loan if any.
- The person must be over the age of 70.
- That this person is one of the persons whose permanent ownership of the MasterCard has been proven.
- That the benefit of the pension he receives covers the loan amount.
- This loan is not extended to the heirs in the event of death.
9- Loans for divorced women and widows
Rafidain Bank gives divorced and widowed women some loans, but these loans have several conditions, which are as follows.
- The loan amount should be from 5 to 10 million Iraqi dinars.
- The interest rate per year is 6%.
- The term of the loan does not exceed 3 years.
- A sponsor must be presented to the woman, and this sponsor must be a government employee.
- Start repaying this loan after 3 months of obtaining it.
- That this loan is taken to finance several projects, including (sewing - food processing stores - a small clothing store).
- This loan is approved by Branch Managers only.
Tips to follow before borrowing from Rafidain Bank
There are several tips that a person wishing to take a loan from Rafidain Bank must follow, because of their great importance, and these tips are as follows.
- Set financial goals first.
- Full readiness for any emergency situation, by saving an amount of money.
- Take out only the loan you need.
- Not to take a loan for entertainment, or to spend money on luxury goods.
- Full assurance of the ability to repay this loan.
- Ensure that this loan is invested in a successful and viable business.
- Adequate knowledge of administrative fees.
- Knowing that several expenses take place within the bank.
- Comparing all loan offers in all banks before heading to the bank.
- Get to know all the important information about the bank that you need.
- Read the terms before taking out the loan.
- Knowing the provisions that are made in the event of a breach of the payment of this loan.