Credit for Retiree (pension)
Public sector retirees (CMR, CDG, CIMR) or private (CNSS) have solid A banking profile thanks to lifetime guaranteed pension. Limitation: credit duration reduced to 15 years (maximum age 75 at loan end).
Key figures
Average income
7 000 MAD
Average rate
4.5%
Max duration
15 ans
Risk profile
1/5
Income structure
CMR pension (public): 75% of last pay (5-15K MAD/month). CIMR (private executive): 60-70% (8-25K). CNSS (private employee): 50-70% (3-10K). Annual revaluation but weak (< inflation).
Banking perception
A profile. Pension perceived as very reliable life annuity. Automatic pension deduction via CNT. Banque Populaire and CIH Bank dominate retiree market.
Mortgage credit
35-40% capacity. Retiree at 10K/month aged 60 can borrow 500K MAD over 15 years at 4.5%. Duration limited by age at loan end (75 years).
Consumer credit
Consumer credit up to 8 months pension. Home works credit accessible. Mandatory death insurance included (surcharge tariff > 65 years).
Specific advantages
- 'Senior' account with reduced fees at Banque Populaire and CIH
- Retiree preferential rate (- 0.3 pt)
- Funeral insurance included in senior packs
- Access to secure paid investments (DAT, money market UCITS)
Points of attention
- Age at loan end limited (75-80 years per bank)
- Costly death insurance beyond 65 years
- Think about transmission (beneficiary clause, donation)
- Avoid revolving credits at high rates
Recommended banks
Required documents
- Pension title (CMR, CIMR, CNSS)
- Last 3 pension notices
- Bank statements 6 months
- National ID and retirement card
- Pension deduction commitment (CNT)
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