| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Jordan Kuwait Bank - Car Loan
|
Minimum Salary: JOD 0 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 0 Years | Flat Rate: 0.0% | Reducing Rate: 0.0% |
Jordan Kuwait Bank offers individuals and institutions loans to purchase new or used vehicles from agents and traders.
Features & Benefits:
- Loans are granted to individuals working in the public or private sector and to self-employed individuals.
- Repayment for up to 96 months.
- Ability to finance up to 100% of the vehicle price.
- Competitive interests rates with the possibility of granting the loan at a flat or a reducing interest rate.
- Free life insurance.
- Several repayment options to suit the borrower's monthly and annual income
- Preferential prices in installments without interest in cooperation with the Arab Orient Insurance Company.
** 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
