Have you fallen in love with an old-fashioned house? Would you like to buy a house, but don't have the necessary funds?
Crédit Populaire d'Algérie can help make your dream a reality by offering you a loan to purchase a home from a private individual.
Who can benefit from a loan to buy a home from a private individual?
- Any natural person of Algerian nationality, whether resident or non-resident in Algeria, who has legal capacity.
- Evidence of self-financing equal to at least 10% of the home's price;
- Evidence of a stable, regular income equal to at least one time the guaranteed national minimum wage;
- For residents abroad, 50% of income earned must be converted into national currency.
Financing terms :
- Loan amount: Up to 90% of property’s purchase price.
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For young Algerian residents under 40 years of age, financing can cover 100% of the purchase price of a property.
The loan amount is calculated based on the applicant's income, with a deduction ranging from 30% to a maximum of 55% applied.
To increase the amount of the loan granted, the bank may accept a joint guarantee from a spouse or single direct relative (parent, sibling, child).
- Personal contribution:The self-financing portion must equal at least 10% of the property's purchase price. This requirement may be waived for applicants under 40 years of age, subject to their debt capacity
- Repayment duration: The loan duration may be up to 40 years and is determined by the applicant's age up to a maximum of 75 years.
- Management fees: 10,000 DZD including taxes (cf current bank terms and conditions).
- Application processing fees: 10,000 DZD, including taxes (see current bank terms and conditions).
- Interest rate:The interest rate is variable and is determined by the general banking conditions in force.
- Loan repayment: The loan is repaid in constant monthly instalments over the entire loan duration.
- Deferment period: The deferment period is set at a maximum of six months from the loan mobilisation date.
- Type of guarantees:The guarantees to be obtained are:
- A first-ranking notarised mortgage in favour of the bank on the property to be financed;
- Death and absolute permanent disability insurance in favour of the bank.
- Home insurance delegated to the bank.
- Natural disasters insurance delegation;
- A deed of joint guarantee if the income of the applicant's spouse and/or direct relative is taken into account when calculating their repayment capacity.
File constitution:
For the purchase of housing from one private individual to another:
- A legalised copy of the published and registered notarised promise to sell, or alternatively a descriptive sheet signed by both parties and legalised at the People's Municipal Assembly or Algerian consulate in the country of residence;
- Negative certificate of mortgage registration;
- Copy of the property ownership deed;
- A property existence, evaluation and appraisal report issued by a bank-approved consultancy office.
- Family record of civil status and copy of official identity document;
- Certificate of occupancy of current home or residence certificate (to prove applicant's exact address);
- Loan application form (to be completed at the branch of your choice).
For wage earner applicants:
- Pay slips for the last three months;
- A recent work certificate;
- Annual Salary Declaration (DAS) for private-sector employees.
- For non-wage earner applicants:
- Proof of activity (trade register or licence).
- Tax certificate (C20 for the last three fiscal years);
- Cleared extract from tax registers or repayment schedule.
- For retired people:
- Income certificate issued by the national pension fund.
- For nationals residing abroad, this must be authenticated by the Algerian Consulate:
- Proof of residence abroad;
- An indefinite-term employment contract supported by the last three payslips for wage earners;
- Proof of activity supported by tax and social security certificates for non-wage earners.