Description
The classical land loan for young people is for any person aged up to 35 years and who has a minimum of two years of continuous service with the same employer.
Characteristics
| Eligibility requirement | Applicants must be at least 35 years of age and must have at least two years of continuous service with the same employer, or, if they are unable to do so, have a letter of confirmation in their employment. The project must be for the principal residence. |
| Eligible operation | Housing construction Housing Acquisition Acquisition of housing + Works Purchase construction Purchase construction site + construction |
| Guarantees | Closed 1st rank hypothec on the parceled land title relating to the parcel to be acquired; Life and Disability Insurance on the Borrower; Fire insurance on the property financed. |
| Destination of the project | Principal residence |
| Eligible person | Individual |
| Duration | 25 to 360 months subject to remaining activity |
| Interest rate | Salary ≤ FCFA 300,000 / month = 3,145% HT, or 3, 75% inclusive of tax Salary ≥ FCFA 300,000 / month = 3,354% excluding VAT, or 4% inclusive of tax |
| Total delay | 1 to 24 months |
| Minimum personal contribution | Up to 0% subject to borrower’s borrowing capacity |
| Maximum Loan Amount | 50 millions FCFA |
| Modes of reimbursement | OVP, Voluntary transfer of remuneration |
