SME Loans

Now, at the NBI, we grant soft loans to support SMEs

SME Loans

Loan Amount

IQD 5 million – 50 million

IQD 51 million – 1 billion

IQD 1 billion – 5 billion (subject to approval from the Central Bank of Iraq)

Our services cover the following:

Purpose

1 - Development of projects in various sectors (commercial, services, industrial, agricultural, medical, and touristic) through the following:

  • Opening of facilities and factories
  • Development of hotels and restaurants
  • Purchase of machines and equipment of all kinds
  • Opening of new production lines
  • Purchase of raw materials of various kinds
  • Development and modernization of existing clinics
  • Purchase of devices of all kinds
  • Purchase of medical and laboratory equipment
  • Purchase of goods

2 - Opening medical clinics, pharmacies, laboratories, pharmaceutical factories, etc. 

Target Sector

All sectors

First: The National Bank of Iraq loan is a product financed from the bank’s resources according to the following conditions:

Financing limit:

3 million to 5 billion maximum

Interest rate/annually reducing:

11%

Loan term/Year:

1 to 7 years maximum

Suggested guarantees:

Personal guarantee or commercial mortgages

Accepted terms of guarantee:

- A government employee in service provided that the DBR does not exceed 50% of the value of the monthly installment.

- A first-degree mortgage provided that it covers no less than 100% of the loan amount, including interest.

 

Grace Perriod

Repayment mechanism

Commissions

1 month

Monthly installments 

Granting Commission 0% - 1%

3 months

Quarterly installments

Contract arrangement IQD 350,000

6 months

Bi-annual installments

Site inspection IQD 50,000 – IQD 100,000

1 year

Annual installments

Early settlement commission 0% - 2%

 

Second: The Central Bank of Iraq initiative for the product financed from the central bank's resources according to the following conditions:

Financing limit:

5 to 50 million maximum

Interest rate/annually reducing:

- Minimum 2.9%
- Maximum 3.4%

Loan term/Year:

1 to 7 years maximum

Suggested guarantees:

Personal guarantee or commercial mortgages

Accepted terms of guarantee:

- A government employee in service provided that the DBR does not exceed 50% of the monthly installment.
- A first-degree mortgage provided that it covers no less than 100% of the loan amount, including interest.

Grace Perriod

Repayment mechanism

Commissions

1 month

monthly installments

Central bank commission 0.005

3 months

Quarterly installments

Insurance companies commissions and guarantees 0.006

6 months

Bi-annual installments

Site inspection IQD 50,000 – IQD 100,000

1 year

Annual installments

Site inspection IQD 25,000

 

Services and Benefits:

- Fast transaction processing in no less than 15 working days from the moment all papers and conditions are completed
- Current account services
- Bank transfers
- Credit cards and ATM cards
- NBI online service
- Text messaging service
- Deposit accounts with preferential interest
- Savings accounts

Subject to the conditions and approval of the National Bank of Iraq in accordance with the restrictions and instructions of the Central Bank of Iraq

Those wishing to benefit from the offer mentioned above can visit the nearest branch of the bank spread across the governorates (Baghdad - Al-Mansour - Kadhimiya - Jamila - Erbil - Sulaymaniyah - Najaf - Karbala - Basra - Umm Qasr - Rumaila) or call one of the department’s numbers (SMEs facilities) as follows:

 

Head Quarters                07809270676-07833035374-07818775369
Basra                                 07833035373
Najaf                                  07833035372
Karbalaa                           07833035371

 

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