Definition:This program is dedicated to finance small and medium and large companies, vocational persons, craftsmen, individual businessmen, schools who need to buy buses or renew the existing buses and all types and sizes of vehicles and trucks which are used to perform the project works and increase the productive capacity.
Beneficiaries:
- Vocational persons, craftsmen & individual businessmen within various economic sectors.
- Firms, small and medium companies within various economic sectors
- Private Schools.
Interest Rate:
Interest rate is equivalent to Overnight Interbank price + margin to be defined by the Bank, or interest rate to be applied in accordance with applicable rates by the bank in loan granting date.
Financing Ceiling:
Financing ceiling up to (550,000.00 JD).
Percentage of Financing:
The borrower has to contribute by at least 10% of new cars costs and at least 20% of second hand vehicles.
Loan Term:
Repayment period is up to seven years including grace period up to a maximum of 6 months.
Guarantees:
Mortgaging the car which is requested to be financed and any guarantees the bank may ask for, in addition the guarantee by the Jordanian Loans Guarantee Company.
Financing Objectives:
- Financing the new and second hand vehicles of all types and capacities.
- Financing, updating and replacing the business vehicles.
