Provide proper financing to clients of SMEs, professionals, Craftspeople, self-employed individuals and private schools segment in order to purchase and renew vehicles of various types whether they are Pickups, Vans, Trucks and Busses of different shapes and sizes and any other heavy machinery (bulldozers, cranes, backhoes, etc.) used in operational activity which could contribute in increasing productivity.
Financing and possessing all types of new and used vehicles whether they are “Pickups, Vans, Trucks and Busses as explained within the Product Description, etc.”
Definition of Vehicles
New Vehicles where its year of production is:
Special Determinants of the Product (Business Vehicles / Palestine):
Loan Currency: Jordanian Dinar “JOD”, Shekel and US Dollar
Max Loan Value: 400,000 JOD for each client
Min Loan Value: 20,000 JOD
Type of Vehicles Eligible for Financing: All types of new and used vehicles of different brands and countries of origin
Clients of Deposit Owners
Remaining segments of clients
Max Loan Tenure, including grace period:
* Provided that, the age of used cars intended for financing shall not exceed 7 years of the current year.
Min Repayment Period: One Year
Min Age of Borrowers:
Max Age of Borrowers:
Repayment Basis: Monthly or quarterly and as per the client’s cash flows
Grace Period: Max 6 months (calculated within the total period of repayment)
Mortgage the vehicle in favor of the Bank by 100% of the loan value including interests, except for loans granted under deposits guarantees
Comprehensive Insurance for the vehicle over the loan tenure and endorse the policy of comprehensive insurance in favor of the Bank as the first beneficiary of insurance amount while providing ongoing written confirmation signed by the client under which he/she undertakes to annually renew and endorse the comprehensive insurance to order of the Bank.
And as the Bank may deem fit and subject to credit status and policy at the Bank.
Professionals, Craftspeople, Self-employed Individuals within different economic sectors
SMEs within different economic sectors