New Mazaya

New Mazaya Program

Financing from a partner bank where monthly installments are subsidized by the government

ELIGIBILITY

Age:
21 - 40

Monthly Income:
600 - 1,200

Subject to terms and conditions as per the housing regulations

USE OF FINANCING

Purchase a land plot

Purchase a housing unit

Construct a housing unit

Purchase a land plot and contstruct on it

Eligibility age up to 40 years
Repayment term 25% - 30% based on age
Repayment term up to 60 years

TERMS

The beneficiary installment is 25% - 30% of monthly income (based on age

The government subsidy is the difference between the total monthly installment and the 25% - 30% of the beneficiary’s income (percentage based on age)

The Government subsidy decreases biannually based on the increase in beneficiary’s monthly income

Repayment term up to 25 years