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Housing Loan Program Under the Association of Banks of Jordan Initiative

Housing Loan Program Under the Association of Banks of Jordan Initiative

Benefits:

  • Get a housing loan at a 4.99% decreasing interest rate, fixed for the first 3 years.
  • Up to 100% financing.
  • Repayment period of up to 25 years.
  • A credit granting commission of 1% for the first year only and as a one-time fee.

Terms and Conditions:

  1. The initiative includes customers from the public, semi-public, and private sectors, as well as working professionals and Jordanian expatriates

  2. Applies to first-time buyers of residential apartments

  3. Excludes financing for spouses if one of them owns a residential home

  4. Excludes cases where property is transferred to first-degree relatives

  5. Includes financing for completed residential apartments only and does not cover independent residential units or building costs

  6. Clients are required to provide the bank with a non-ownership statement (of a residential apartment) from the Department of Lands and Survey for both husband and wife

  7. The loan must not be used to repay an existing loan

  8. After the end of the fixed period, the interest rate will be equal to the Interbank rate at that time + a margin of 2.50%

  9. The maximum debt burden ratio must not exceed 55% in accordance with the bank's internal policy

  10. The maximum loan value is 150,000 JOD

  11. The maximum income of the client is 2,500 Jordanian dinars

  12. The client's inquiries should not have any negative indicators (such as cases, returned checks due to insufficient funds, or outstanding dues on the CRIF system). Additionally, documentation of income sources, repayment, and salary transfers is required for resident salary earners

  13. All applications are subject to the bank's terms and conditions

 

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*The applicable interest rate on the calculator is the lowest rate within the product segments.

*The interest rate depends on the income amount, source of income, financing ratios, and customer’s classification. 

*The information mentioned above is for illustrative purposes only and shall not be considered final. For more information, please contact our call center (Iskan 24/7) at: +96265200400, or the toll-free number 080022111 or visit your nearest branch.

*For more information regarding the available interest rate and classifications in the Bank, please click here.