Housing: loans of 700 and 400 million dinars

Algiers- The government has set the terms and conditions for granting loans, to officials, by the public treasury, for the acquisition or extension of a dwelling.

• The executive decree will be signed by Prime Minister Ahmed Ouyahia tomorrow Tuesday after the board meeting of the government, giving the green light to the public treasury for granting home loans to staff (acquisition or expansion of housing).
  Changes made to extend loans for the construction and expansion of housing, with lending of public treasury instead of bank credit, revised down the interest rate that reached 1% (3% for
• banks)
• In this regard, the government set a ceiling value of loans for the acquisition or construction of housing, social housing per capita,to 7 million dinars, or 700 million centimes for staff and senior officials who are classified under Subsection 1 to 7 of the general public service, while other officials receive credits worth four million dinars, or 400 million centimes, 1% annual interest for up to 30 years, delaying the start of payment of one year, the government stressed that the amounts of monthly payments should not exceed 30 per cent of monthly income of the employee.
  Moreover, the government set the maximum loan amount for the expansion of housing for public servants holding high positions in government, and staff who are classified in sub-section 1 to 7 of the Statute of basic public service, a loan of 4 million dinars, or 400 million centimes, while other staff benefit from the loan of two million dinars, equivalent to 200 million centimes, 1% Of interest, applicable to these categories too. In addition, it would be possible for any employee to contract with another financial institution, in order to qualify for a loan for the acquisition of collective housing, obtaining a treasury loan for an amount equivalent to the remainder of claims to pay the lending institution directly by the Treasury.
  
  Terms of repayment of loans and guarantees to be provided
  The government has set, in the executive decree, several ways to repay loans, they are deducted by employers for staff service, where monthly deduction without interruption until full payment of the loan amount, while it is collected monthly by private institutions: like the National Fund for retirement, executives of the nation, to holders of senior positions, employees eligible for retirement as the National Pension Fund through regional staff Department.
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  Ennahar / Delilah B