A commercial loan designed to meet the business needs of doctors through financing the purchase of clinics.
Loan Features
- Competitive interest rate.
- Loan tenor up to 96 months.
- Loan amount up to JOD 250,000.
- Financing up to 90% of the estimated property value.
- Life and total disability insurance.
- Possibility of granting a Credit Card free from issuance fees for the first year.
- Comprehensive insurance on the property.
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Beneficiaries are:
Jordanian Doctors who operate their private clinics and reside in Jordan.
Terms and Conditions
- Doctors who reside in Jordan.
- Fully eligible with a good reputation and track record.
- Not blacklisted
- Do not have any past dues related to previous loans at time of lending
- The completion of a loan application available at the bank's branches.
- Applicant age should not be less than 28 years and not more than 70 years old.
- Minimum acceptable monthly income is JOD 2,000.
- Minimum length of service in the applicant’s private clinic should not be less than 2 years.
- First degree mortgage on the property in favor of the bank
- One-time processing fee (1% of the loan amount).
- The customer bears the mortgage fees.
- 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 for the existing clinic, if not available, the borrower can provide the bank with his personal account statement.
- Valid professional license.
- Certificate of professional practice.
- Financial statement for the borrower’s current clinic.
- Cash flow statement.
- Documents verifying customer’s net worth / assets.
- Loan application completed and signed by the customer.
- Contract agreement with the vendor.
- Loan agreement signed by the customer.
- One Property/Mortgage appraisal from an accredited agency to the bank, and two appraisals are required if the loan is more than JOD 100,000.