| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Arab Bank - Home Improvement Loan
|
Minimum Salary: JOD 0 | Salary Transfer: No | Early Settlement Fees: No | Maximum Term: 30 Years | Flat Rate: - | Reducing Rate: - |
Arab Bank gives you the chance to make the most out of your home’s value. Whether you need cash to finance your next investment, consolidate your debts, or achieve any other purpose.
This loan is designed to meet your needs with a host of benefits including:
- Competitive Interest Rates
- Loan amount ranging from JOD 5,000 and up to JOD 200,000
- Loan tenor ranging between one and twelve years and up to thirty years for consolidating debts.
- Loan settlement through monthly installments according to your income
- Financing up to 50% of the Villa’s value and 40 %of the apartment’s value
- Ability to finance mortgage fees
- Life and property insurance
- Optional Insurance Cover on Content of Residential Property Against All Risk
- Account services such as free visa electron, Arabi online service, and Hala Arabi service.
- Free home Content Insurance (up to 35,000 JD)
- A variety of Credit Card options to choose from
- Loan Calculator
Documents Required
- Valid national ID (for Residents) or valid passport with valid Resident visa (for Non-Residents)
- Recent utility bill in the name of the client e.g. electricity, telephone or rental contract
- Latest Salary/Income/Employment verification document
- Property purchase and sales agreement / contract
- Ownership certificate of the financed property
- Proof of Down payment
- Bank statement
** 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
