Features of Personal Loan for Housing Purposes
- Loan amount of up to $100K or its equivalent in JODs and ILS
- Repayment period of up to 15 years
- No need for property mortgage
- Grace period of up to 2 months
- Ability to disburse the loan in JODs, USDs, and ILS
- Ability to issue a Visa credit card free of issuance fees for the first year
- Reducing interest rate
- Free life insurance for borrowers
Criteria and Specifications for the Non-Mortgage Personal Loan Product
- Minimum repayment period is 1 year
- Minimum borrower age is 18 years
- Maximum borrower age by the end of the loan period is 70 years
- Periodic payment of monthly installments
- Guarantees according to the case and the bank’s credit policy
Terms and Conditions
- The client’s credit rating should be acceptable by the bank
- The client’s Debit Burden Ratio (DBR) should not exceed 50% of the their monthly income