Banks with the lowest interest rate for personal loans – Public Sector (March2021)

Feb 22, 2021 by AmwalCom

Personal loans are among the most needed services offered by Jordanian banks. Choosing which bank to get a personal loan from depends on a number of factors. For example, it is important to choose a bank with good online services, the flexibility of repayment, good customer care services, and a good presence in the different Jordanian cities.

In this article, we list the top eight banks in Jordan with the best interest rate for personal loans specifically for people working for the public sector. It is important to note that for personal loans, salaries have to be transferred to the bank you get the loan from. Some banks require a minimum salary to be eligible for the competitive interest rate. The interest rate for personal loans is reducing and there is usually a 1% granting fee that is usually waivered when buying out the loan from another bank. The maximum debt burden ratio (the amount the bank can take from your salary as the monthly installment) for most of the offers below is 50% of the salary.

1- Bank of Jordan

• 6.66% interest
  
• Min. salary: 200 JDs
  
• Max. Repayment Period: 8 years
  

2- Capital Bank

• 6.9% interest
• Min. salary: 500 JDs
  
• Max. Repayment Period: 10 years
  
• You can get an extra prize of 1500 JDs in cash. However, the interest rate would go up to 7.9% in this case
  

3- Cairo Amman Bank

• 6.9% interest
• Min. Salary: 150 JDs
  
• Max. Repayment Period: 10 years
  

4- Jordan Commercial Bank

• 7.25% interest for salaries above 750 JDs
• 8.25% interest for salaries between 350 and 750 JDs
  
• Min. Salary: 350 JDs
  
• Max. Repayment Period: 10 years
  

5- Etihad Bank

• 7.5% interest
• Min. Salary: 350 JDs
  
• Max. Repayment Period: 10 years
  

6- Arab Jordan Investment Bank (AJIB)

• 7.75% interest
• Min. Salary: 300 JDs
  
• Max Repayment Period: 10 years
  

7- Société Générale

• 7.9% interest
• Min. Salary: 200 JDs
  
• Max. Repayment Period: 10 years
  
• Max. Debt Burden Ratio: 45%
  

8- Housing Bank

• 8% interest for salaries above 500 JDs
• 8.75% interest for salaries between 250 and 500 JDs
  
• Min. Salary: 250 JDs
  
• Max. Repayment Period: 10 years
  

**All offers are subject to the banks’ terms and conditions
** Data was collected through the different customer care centers of the listed banks
** Article is not sponsored by any entity