Car Loans:

• undetermined duration, and the customers will be informed upon suspension.
• Loan features depend on the car category as follows:
• Categories:
• Category A: Preowned, Certified cars with a maximum age of 3 years at the time of granting (excluding cars manufactured in China).
• Category B: All types of cars with an age between 3-7 years at the time of granting (excluding cars manufactured in China).
• Category C: All cars, including Chinese cars, with zero mileage, and an age exceeding 7 years at the time of granting.
• Fixed interest rate starting from 4.25% for financing less than 50% and 4.5% for financing over 50%.
• If financing an electric car, the bank pays the customers electricity bill with a monthly amount of 25 Jordanian dinars for one year.
• If financing a hybrid car, the client receives a 100 Jordanian dinar gasoline voucher once.
• Life insurance is provided within the bank’s policy, noting that the bank’s grant procedures require insurance for the contract guarantees, the borrower’s life, and cases of permanent total disability that may occur in the future.
• Mortgage fees are covered by the bank.
• DBR is based on bank policy.
• A pre-approved credit card is granted for customer, representing 10% of the car value, with a maximum of 5,000 Jordanian dinars.
• The loan can be granted to customers under program conditions, and the car can be registered under the name of another non-working person (son, spouse, father, mother, brother, sister), with the non-working person considered an additional guarantee on the loan.
• No need for a certified appraiser if the car is directly from the dealer or new Certified cars; only a price quote is required.
• Financing more than one car is possible for the same client, within the debt burden limits, with a maximum of two car loans and three loans for exclusive customers.
• The minimum loan amount is 5,000 Jordanian dinars.
• The maximum loan amount is 100,000 Jordanian dinars for new cars and 75,000 Jordanian dinars for used cars.
• The minimum repayment period is 12 months.
• The car’s age must not exceed 15 years at the end of the loan term.
• An additional 5% burden is granted to clients for electric cars only, if it is proven that the reason for financing is to replace the current gasoline car.
• Salary transfer is not required for car loans within the “Salaries” segment.