Damascus-SANA
The Commercial Bank of Syria issued today the conditions for financing the personal loan of the Internal Security Forces and civil servants of the Ministry of Interior and its affiliates, one year after their participation in the pension fund, provided that this does not include officer students, students and other course elements.
In accordance with the conditions, the bank grants a loan with a ceiling of 10 million Syrian pounds for a period not exceeding 5 years, with a guarantee of the salaries of public sector employees, military personnel, internal security forces, or civilians affiliated with the Ministry of Defense or the Interior, with one or two sponsors in the event that the acceptable income of one sponsor does not cover the premium.
The bank grants a loan to those mentioned with a ceiling of 20 million Syrian pounds for a period not exceeding 10 years with a real estate guarantee covering 200 percent of the value of the loan.
The bank indicated that the commission for studying the file is 5,000 pounds for a loan with a personal guarantee, and 10 thousand for a loan with a real estate guarantee, and there is no link commission, while the total salaries of the borrower and the payment partner must cover the loan installment, and that the proportion of the distribution of the installment between the borrower and the payment partner is 20 percent as a minimum for the borrower and 80 percent as a maximum higher for the repaying partner.
Loans are repaid according to the bank in equal monthly installments and at an interest rate of 10 percent on the declining balance of the loan. The bank has the right to amend the contractual interest on the loan in the event of a change in interest rates as required by the interest of the bank and in line with prevailing norms in the Syrian market, after informing the customer of this in an official letter .
The first installment is due according to the bank at the end of the month following the month of granting and activating the loan, and the delay interest applicable in the bank shall be applied when any outstanding installment is not paid.
Waseem Al-Adawi