Subsidized housing loans with a fixed %4.99 interest rate for the first 3 years for customers who purchase their apartments for the first time.
Benefits:
- Financing rate up to 100%.
- Financing limits up to 150K JOD.
- Decreasing interest rate of 4.99% will be fixed for the first 3 years. Following the end of this period, the rate will be adjusted based on the applied interbank rate with an additional fixed margin of 2.5%.
- Repayment period up to 25 years.
- The bank endures 100% of the property's mortgage and granting fees.
Terms and Conditions:
- Minimum age is 25 years and not to exceed 70 years at the end of the loan tenor.
- The initiative includes new loans for new apartment buyers only and it excludes loans for home construction.
- A statement from the Land and Survey Department is required to prove that there are no apartment owned by the customer or his/her spouse.
- Possession transfer is not permitted between first degree relatives.
- The salary amount should not exceed 2,500 JOD.
- It is not allowed to pay off the outstanding loans from the new granted loans.
- Bank Housing loans terms and conditions should be applied.