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Business Vehicles Loan Program

Financing ceiling up to (400,000.00 JD)

This program is intended to finance the purchase and renewal of business vehicles of all kinds.

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.   

Targeted Segments

  • Professionals, Craftspeople, self-employed individuals within different economic sectors
  • SMEs within different economic sectors
  • Clients from Deposit owners’ Segment   

Product Purposes

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.”   

  • Financing for renewing and replacing of business vehicles
  • Diversify the basket of products available to clients

 Definition of Vehicles

New Vehicles where its year of production is:

  • The same current year or its following or previous year of financing, its speedometer is zero (0) whether it has been sold by agency of vehicle showrooms
  • The vehicles with zero speedometer and sold only by the agency with no more than 3 years of current year. 
  • Used Vehicles are the used or sold vehicles within the local market with no more than 7 years of the current year.   

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

Financing Rates: 


New Cars

Used Cars

Clients of Deposit Owners



Remaining segments of clients



 Max Loan Tenure, including grace period:

Client Segment

Loan Tenure

New Vehicles

7 Years

Used Vehicles

5 Years

  * 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:

  • Personal Capacity (Natural Persons): 25 years old (with no less than 3 year of operational experience
  • Legal Personality (Corporates & Institutions): The operational age shall not be less than 3 years.

Max Age of Borrowers:

  • Personal Capacity (Natural Persons): 70 years old by the end of financing / loan tenure
  • Legal Personality (Corporates & Institutions): Unlimited

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 

  • Valid ID of the client (Identity Card)
  • Recent Bank Statement for the last six months regardless of required loan amount (in case of dealing with other banks)
  • Practicing Profession Certificate, copy of valid association membership card, copy of tenancy contract or ownership deed of the place of business etc., and the supporting documents related to each sector separately.
  • Any other documents and according to instructions related to this aspect. 

 SMEs within different economic sectors 

  1. Official documents of the institution, corporate or school and under applicable actions in this respect.
  2. Recent Bank Statement for the last six months regardless of required loan amount (in case of dealing with other banks) compared with the declared volume of business and subject to provided financial statements or the field inspection prepared by the Bank.
  3. If no recent bank statement for the last six months is available to prove the client’s income, a physical inspection of the client’s stores will be conducted to prove his/her monthly income
  4. Any other documents and according to relevant instructions. 

General Conditions

  1. The program is to be applied under the special conditions and in compliance with the applicable policies and procedures at the Bank as well as instructions of PMA.
  2. Verify / Document income sources of the clients, and subject to the applicable procedures, the borrower shall be subject to requirements of monitoring authorities (such as legal permits, non-listed in PMA, ban lists, etc.) and under special instructions related to this aspect.
  3. Non-appearance of any liability due onto the borrower.
  4. The vehicle value s estimated based on the offer provided by the seller (provided that it must be made by vehicle showroom or agency) for used vehicles attached with comprehensive insurance policy that clarifies the value of vehicle within the policy and under special instructions related to this aspect (Financing is made based on price offer or insurance policy, whichever is less).
  5. Price offer is sufficient for new vehicles, model of current, following or previous year of financing and zero speedometer of sold vehicles by agency or vehicle showroom, or that vehicles with zero speedometer and sold only by agency; provided that the vehicle age is not more than 3 years of the current year) and according to definition of new vehicles.
  6. Payment of loan value shall be made in favor of the seller subject to vehicle ownership document or price offer of new vehicles and under the applicable relevant procedures.
  7. Provision of audited financial statements for the clients who are required to prepare these statements subject to instructions related to this respect as well as the field financial inspection if the audited financial statements do not reflect the actual financial position of the client.