Best Personal Loan – Private Sector (June 2021)

Jun 1, 2021 by AmwalCom

In a previous article, we talked about the reasons behind rejecting your personal loan application. In this article, we present to you the best personal loan offers in Jordan assuming you match the minimum requirements of the banks:

1-      Bank of Jordan:

Features

• 6.26% Interest Rate for Salaries > 1000 JDs
• 6.5% - 6.75% Interest for salaries < 1000 JDs
  
• Min. Salary: 350 JDs
  
• Financing period: Up to 8 years

Be Aware!

• Salary Transfer is a must
• If the company you work for is unaccredited, you would need to mortgage land, a car, or a house

2-      Al Rajhi Bank:

Features

• Interest Rate: 3.5% flat rate (6.47% reducing rate) if the financing period is up to 3 years
• Sharia-compliant
  

Be Aware!

• Interest rate increases as the financing period increases reaching up to 6.5% flat rate (12% reducing rate) if the financing period is 9 -10 years
• Loan is granted for accredited companies’ employees only
  
• Salary transfer is a must
  
• Min. Salary: 500 JDs

3-      Jordan Commercial Bank:

Features

• Interest Rate: 7.25% for accredited companies’ employees and a salary > 750 JDs
• Financing period: Up to 10 years
• Unaccredited companies’ employees can be granted
• No commission fees for buyout loans (if the bank is to buy your existing commitment from another bank)

Be Aware!

• Salary transfer is a must
• Interest Rate: 8.25% for accredited companies’ employees and a salary between 350 – 750 JDs
• Interest Rate: 10% for non-accredited companies’ employees and a salary > 750 JDs

4-      Safwa Islamic Bank:

Features

• 4% flat rate (7.4% reducing rate) if the financing period is up to 5 years
• Sharia-compliant
• Min. Salary: 400 JDs

Be Aware!

• Interest increases as the financing period increases reaching 4.5% flat rate (8.32% reducing rate) if the financing period is 5-7 years
• Salary Transfer is a must
• Loan is granted for accredited companies’ employees only
• Financing period: Up to 7 years only

5-      Bank Al Etihad:

Features

• Interest Rate: 7.5%
• Min. Salary: 350 JDs for accredited companies’ employees
• Financing period: Up to 10 years
• Unaccredited companies’ employees can be granted

Be Aware!

• Min. Salary: 650 JDs for unaccredited companies’ employees
• Salary Transfer is a must

**To compare between all personal loan offers for the private sector, click here
**All offers are subject to banks’ terms and conditions
**This article is not sponsored by any party