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Loans/ Credit Facilities
 
Professional Loan

It is a personal loan designed to meet the personal needs of professionals.

Benefits
  • Loan tenor is up to 60 months.
  • Loan amount is up to JOD 60000.
  • Guarantor is not required.
  • Interest rate starting from 10.25 % (Reducing).
  • Beneficiaries are: 
    • Doctors who own private clinics.
    • Dentists’ who own private clinics.
    • Owners of pharmacies.
    • Engineers own engineering offices.
    • Legal accountants.
Conditions
  • Applicants need to be Jordanian and residents.
  • Applicants to be fully eligible with a good reputation and track record.
  • Applicants not to be blacklisted
  • Applicants not to have any past dues related to previous loans at time of lending
  • Applicants need to apply for the loan directly through the bank's branches or the sales team.
  • Minimum age for the applicant should not be less than 28 years old.
  • Maximum age of the applicant at loan maturity is 70 years old.
  • Minimum monthly income should not be less than JOD 2000.
  • Minimum length of service should not be less than 3 years for establishing the business and not less than 5 years for holding the certificate.
  • 1% commission calculated on the loan amount retrieved once.
  • Early settlement fee of 1% of the settled amount in case the remaining payments are more than 12 payments.  
Documentation
  • Photocopy of valid ID.
  • 6 months bank statements.
  • Valid professional license.
  • Certificate of professional practice.
  • Financial statement.
  • The accredited personal loan application signed by the customer.
 
Personal Loan against salary transfer (Private & Public Sectors)

Loans granted to individuals from the public and private sectors against salary transfer to meet their personal needs.

Benefits
  • Loan tenor is up to 96 months.
  • Loan amount is up to JOD 70000 for public and private sectors.
  • Buy out loans facility is available.
  • Free card issuance fee for the first year.
  • Insurance on life and total disability.
  • Guarantor is not required.
  • Interest rate starting from 9.75% (Reducing).
Conditions
  • Applicants need to be Jordanian residents
  • Applicants to be fully eligible with a good reputation and track record.
  • Applicants not to be blacklisted
  • Applicants not to have any past dues related to previous loans at time of lending.
  • Applicants need to apply for the loan directly through the bank's branches or the sales team.
  • Salary transfer is required.
  • Minimum age for the applicant should not be less than 21 years old.
  • Maximum age for the applicant, from public sector, at loan maturity is 60 years old for males and 55 years old for females except for social security retirees, military or civil retirees where the maximum age at loan maturity is 70 years old.
  • Maximum age for the applicant, from private sector, at loan maturity is 60 years.
  • Minimum monthly net salary should not be less than 300 for new clients in public sector and JOD 350 for private sector from the bank’s accredited companies list.
  • Minimum length of service should not be less than 6 months for public sector and 12 months for private sector and for members of the armed forces (3 years for rank “wakeel” or below, one year for females, and 6 months for civilians) and 3 years for members in the civil defense.
  • 1% commission calculated on the loan amount retrieved once.
  • Early settlement fee of 1% of the settled amount in case the remaining payments are more than 12 payments.  
Required Documents
  • Photocopy of valid ID.
  • Salary pay-slip for the recent month/ salary certificate where the date and the type of employment are indicated.
  • 6 months bank statement.
 
Car Loan

Loans for financing new cars (European, Japanese, Korean, American, British and Chinese models) and used cars (Japanese, Korean, German, American, and British models), with flexible terms and conditions. Car loans are granted for Jordanian residents working in public and private sectors, professionals and self-employed.

Benefits
  • Loan tenor is up to 7 years
  • Loan financing is up to 90 % for new cars and 80 % for used cars
  • Customers of this loan are covered with life and total disability insurance, according to the accredited insurance procedure
  • Salary transfer is not mandatory
  • Guarantor is not required
  • Interest rate starting from 9.25% (Reducing)
  • Loan amount: minimum 5000 and maximum JOD 60,000
Conditions
  • Applicants need to be Jordanian residents.
  • Applicants to be fully eligible with a good reputation and track record
  • Applicants not to be blacklisted
  • Applicants need to apply for the loan directly through the bank's branches or the sales team.
  • Applicants not to have any past dues related to previous loans at time of lending.
  • Minimum monthly net salary should not be less than JOD 350 and JOD 1000 for professional and self-employed (new cars).
  • Minimum monthly net salary should not be less than JOD 500 and JOD 1000 for professional and self-employed (used cars).
  • The car only with a zero mileage is considered “New” otherwise the car is considered “Used” even if the car manufacturing year is the same as the year of loan application.
  • The purchased car remains mortgaged for the benefit of the bank until the end of loan period
  • Minimum age for the applicant should not be less than 21 years old.
  • Maximum age of the applicant at loan maturity is 60 years old and 70 years old for retirees.
  • Early settlement fee of 1% of the settled amount in case the remaining payments are more than 12 payments.  
Required Documents
  • Photocopy of valid ID.
  • Car dealer price quotation (for new cars) including all car details mentioning the final car price.
  • Appraisal of the car (for used cars) by the bank’s accredited car assessors and a copy of the sales contract.
  • Salary pay-slip for the recent month.
  • 3 months bank statements for salaried employees.
  • Comprehensive insurance equivalent to the loan amount for the first year in favor of the bank is required.
For professionals and self-employed
  • Photo copy of valid ID.
  • Car dealer price quotation (for new cars) including all car details mentioning the final car price.
  • Appraisal of the car (for used cars) by the bank’s accredited car assessors and a copy of the sales contract.
  • 6 months bank statements.
  • Financial statement.
  • Certificate of professional practice.
  • Valid vocational license.
  • Commercial registration certificate.
 
Housing and Mortgage Loans

Housing Loans

Loans granted to individuals working in the public and private sectors, professional, self-employed and expatriates for the following purposes:

  • Buying houses and apartments
  • Construction for residential purposes.
  • Renovation and expansion of existing property.
  • Housing loan buy out from other banks.
Benefits
  • Loan tenor is up to 25 years.
  • Financing purchasing or building of houses is up to JOD 500000.
  • Financing purchasing of houses in compounds is up to JOD 450000.
  • Loan financing is up to 100%.
  • Free card issuance fee for the first year.
  • Life, total disability and mortgage insurance.
  • Interest rate starting from 7.75% (Reducing).
Conditions
  • Applicants to be fully eligible with a good reputation and track record.
  • Applicants not to be blacklisted
  • Applicants not to have any past dues related to previous loans at time of lending.
  • Applicants need to apply for a loan directly through the bank's branches or the sales team.
  • Minimum monthly income should not be less than JOD 300 for public sector, JOD 400 for private sector, JOD 600 for joints borrowers, JOD 1000 for professionals and self-employed and JOD 1500 for Jordanian expatriates.
  • Minimum length of service should not be less than 6 months for public sector, 12 months for private sector, 3 years for professionals and self-employed, 12 months for Jordanian expatriates or 6 months if previous experience of minimum 3 years is proven.
  • Minimum age for the applicant should not be less than 21 years old.
  • Maximum age of the applicant at loan maturity is 70 years old.
  • The property remains mortgaged for the benefit of the bank until the end of loan period
  • 1% commission calculated on the loan amount retrieved once.
  • Early settlement fee of 1% of the settled amount in case the remaining payments are more than 12 payments.  
Required Documents
  • Photocopy of valid ID.
  • 6 months bank statements.
  • Property/Mortgage appraisal from accredited agencies to the bank, and two appraisals are required if the loan is > than 100,000
  • Property initial selling contract
  • Housing loan application completed and signed by the customer
  • Cash flow statement and financial declaration for professionals

 

Mortgage Loans

Personal loan against mortgage granted for the following purposes:

Program A: Personal loan purposes against mortgage

Program B: Buying lands

Benefits

Program A:

  • Loan tenor is up to 96 months.
  • Loan amount is up to JOD 100,000.
  • Financing up to 70% of the estimated property value, and up to 50% of the estimated land value.
  • Pricing starts from 9.99% (Reducing).

Program B:

  • Loan tenor is up to 15 years.
  • Loan amount is up to JOD 250,000.
  • Financing up to 70% of the estimated land value.
  • Pricing starts from 9.99% (Reducing).
Conditions
  • Applicants to be fully eligible with a good reputation and track record.
  • Applicants not to be blacklisted.
  • Applicants not to have any past dues related to previous loans at time of lending.
  • Applicants need to apply for a loan directly through the bank's branches or the sales team.
  • Minimum monthly income should not be less than JOD 300 for public sector, JOD 400 for private sector, JOD 600 for joints borrowers, JOD 1000 for professionals and self-employed and JOD 1500 for Jordanian expatriates.
  • The property is first degree mortgaged for the benefit of the bank and should be owned by the borrower or spouse (husband / wife).
  • 1% commission calculated on the loan amount retrieved once.
  • Early settlement fee of 1% of the settled amount in case the remaining payments are more than 12 payments.  
Required Documents
  • Photocopy of valid ID.
  • 6 months bank statements.
  • Property/Mortgage appraisal from accredited agencies to the bank, and two appraisals are required if the loan is > than 100,000
  • Mortgage initial selling contract in program B
  • Mortgage loan application completed and signed by the customer
  • Cash flow statement and financial declaration for professionals
 
Salary in advance (Overdraft)

This scheme enables salary-transferred customers (public or accredited companies from private sectors) to withdraw their salaries or part of it in advance, thus providing extra income to customers to meet urgent needs.

Benefits
  • Interest rate 18% calculated on the maximum daily balance.
  • Overdraft amount is up to JOD 5000.
Conditions
  • Applicants to be fully eligible with a good reputation and track record.
  • Applicants not to be blacklisted.
  • Minimum age for the applicant should not be less than 21 years old.
  • Maximum age of the applicant at loan maturity is 65 years old with the exception of social security retirees, military and civil retirees, the maximum age at loan maturity is 70 years old.
  • Minimum length of service should not be less than 6 months for public sector, 12 months for private sector.
  • At Least one month salary should be transferred to the bank.
  • Minimum monthly net salary should not be less than JOD 250 for public sector and JOD 300 for private sector from the bank’s accredited companies list.
  • Minimum limit is JOD 100 for public sector and JOD 150 for private sector.
  • Undertaking of salary transfer
 

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