Lowest Interest Rate Home Loan Offers - Private Sector (April 2021)

Mar 26, 2021 by AmwalCom

Buying a house is one of the biggest decisions any of us can make. Given that most of us do not have the full house amount, we tend to get a housing loan from banks. Housing loans accordingly are considered high liabilities that could last for up to 30 years.

Finding the right bank to get the housing loan seems easy when in fact it is not…It is not merely about finding the loan with the lowest interest rate especially for the private sector employees. For instance, it is important to know if your company is accredited by which banks and if banks can grant you the housing loan if not.

It is also important to understand the financing percentage the bank can grant you. This is in addition to the salary transfer condition that most banks ask for. Do not forget that some banks may pay the mortgage fees and/or the granting fees for you.

We will list in this article the best housing loans offers in Jordan based on the interest rates. The list is for the month of April 2021 and for the private sector employees assuming an 80% financing and the ability to transfer your salary to the bank.

1- Bank of Jordan

• 5.58% interest for salaries > 2000 JDs (No mortgage or granting fees)
• 5.8% interest for salaries between 1000-1999 JDs
  
• 6.08% interest for salaries < 1000 JDs
  
• Min. Salary: 500 JDs
  
• Max. Financed period: 25 Years
  
• Accreditation of the company is not a must
  

2- Al-Rajhi Bank

• 5.75% interest
• Financing up to 90% of the property value
  
• Min. Salary: 500 JDs
  
• Salary transfer is a must
  
• Accreditation of the company is not a must
  

3- Housing Bank

• 5.75% interest for salaries > 1000 JDs
• 6.75% interest for salaries < 1000 JDs
  
• Min. Salary: 350 JDs
  
• Max. Financed Period: 25 years
  
• Salary transfer is a must
  
• Accreditation of the company is a must
  

4- Bank Al Etihad

• 5.75% for salaries > 1000 JDs (up to 20 years)
• 6.25% interest for salaries < 1000 JDs (up to 20 years)
  
• Interest increases by 0.5% if the financing period goes up to 25 years
  
• Min. Salary: 350 JDs
  
• Accreditation of the company is a must
  

5- Jordan Kuwait Bank

• 5.75% Interest
• Min. Salary: 500 JDs
• No Mortgage or Commission fees

6- Jordan Commercial Bank

• 6.25% interest
• Min. Salary 350 JDs
  
• Max. Financed Period: 30 Years
  
• No mortgage fees
  
• Accreditation of the company is not a must
  

7- Cairo Amman Bank

• 6.25% interest
• Financing up to 85% of the property value
  
• Min. Salary: 200 JDs
  
• Accreditation of the company is not a must
  
• Salary transfer is a must
  
• Financing period: 25 years
  
• No mortgage fees
  
• No granting fees
  
• Cash prize: up to 1000 JDs
  

 8- Capital Bank

• 6.25% interest
• Min. Salary: 600 JDs
  
• Financing period: 25 years
  
• No mortgage fees
  

9- Safwa Islamic Bank

• 6.25% interest (up to 20 years)
• 7.25% interest (up to 25 years)
  
• Financing up to 100% of the house amount (limited time offer)
  
• Min. salary: 300 JDs
  
• Accreditation of the company is not a must
  
• Salary transfer is a must
  

10- Arab Jordan Investment Bank (AJIB)

• 6.25% interest
• Min. salary: 400 JDs
  
• Financing period: 30 years
  

11- Société Générale

• 6.25% interest
• Min. salary: 300 JDs
  
• Financing up to 75% of the property value
  
• 40% DBR (in comparison with 50% for other banks)
  
• Accreditation of the company is not a must
  

**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