| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Bank of Jordan - Car Loan
|
Minimum Salary: JOD 350 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 8 Years | Flat Rate: 5.56% | Reducing Rate: 10.0% |
Get your car loan approval from Bank of Jordan within a few hours
With the Bank of Jordan car loan, you can now get your car loan approval for new or used cars, for personal use, within a few hours of applying for it.
Benefits:
With the Bank of Jordan car loan, you can now get your car loan approval for new or used cars, for personal use, within a few hours of applying for it.
Benefits:
- Approval within hours of completing your required documents
- Fixed competitive interest rate starting from 4.75%, with the possibility of financing with a diminishing interest rate
- Financing up to 100% of the car value, with a repayment period up to 8 years
- Financing reaches up to JD 100,000 Possibility of financing new or used cars
- Preapproved credit card with issuance fees waiver
- Possibility of financing Jordanian expatriates and foreigners residing in Jordan
- No guarantor or salary transfer required
- Possibility of financing more than one car
- This loan is available for Jordanian employees in public sectors and private, retirees, military personnel, international entities' employees , and self-employed individuals, as well as Jordanian expatriates and foreigners residing in Jordan
- Applicant's age must be between 21-65 years old during the loan period
- 1% commission rate, charged once in advance
- Valid ID
- Diagnostic evaluation report of the vehicle from a source approved by the Bank, or an official quotation from the vehicle agent, in case the vehicle is brand new
- Copy of the used car license
- Comprehensive insurance documents
- Bank account statement for the last 6 months
- Proof of income
- Any additional documents required upon credit evaluation
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
