Housing Loans

Privileges

• Financing up to 100% of the estimated property value
• Loan tenure up to 30 years including a grace period for new granting loans
• Grace period up to 6 months in case of purchase and up to 24 months for construction
• Free credit card issuance fees for the first year only
• Interest rate starting from 6.25% for salaried customers
• Loan commission fees are 1% (only for the first year)
• The ability of finance Self-employed and Expatriates
• Ability to Buyout loans from other banks
• Life insurance

Terms & Conditions:

• Minimum loan amount is 5,000 JOD
• Minimum loan tenor is 12 months
• Minimum income is 450 JOD
• Maximum DBR is 50% & up to 60% for Social Security retirees
• Minimum age is 18 years and not to exceed 75 years at the end of the loan tenor
• Minimum working experience is 3 months
• Ability to finance Jordanian residents, non-resident Jordanians, Non-Jordanian residents in Jordan (Arab and foreign nationalities)
• For personal purposes only.
• Installment deferral fee amount is 10 JOD
• Loan accounts will be transferred to non – performing loan account when payments of the interest or principal are past due by 90 days or more
•  Late payment penalty is 10 JOD due after 5 days of the payment maturity date for salaried customers, and after 2 days for self-employed customers
• Property mortgage 100% of the loan amount.

Required documents

• Valid national ID or valid passport for non-Jordanians
• Income verification letter, latest Salary Slip, Bank statement for the last 6 months
• Social security subscription letter
• Property organization Scheme, Site plan, construction license, and property registration document, and contract of sale
• Company registration certificate for entities, valid profession license, practice profession license, and association membership certificate
• Property appraisal or construction cost

The Bank has the right to request additional documents.