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 can go up to JOD 150,000 for Private Sector.
- Loan amount can go up to JOD 110,000 for Public Sector.
- Buy out loans facility is available.
- Free card issuance fee for the first year.
- Insurance on life and total disability.
- Guarantor is not required.
- Competitive interest rates.
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 70 years.
- Minimum monthly net salary should not be less than JOD 700 for new clients in public sector (Armed Forces / Public Security Directorate / Military Retirees), not less than JOD 500 (Other Public Sector employees / Ministries/ civil retires).
- Minimum monthly net salary should not be less than JOD 350 for private sector from the bank’s accredited companies list and JOD 500 for non-accredited companies.
- Minimum length of service should not be less than 6 months for public sector and 6 months for private sector and for members of the armed forces (3 years for rank “wakeel” or below, one year for females, and 1 year for civilians).
- One-time processing fee (1% of the loan amount).
- 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.