Top Four Personal Loans in Jordan (August 2021)

Top Four Personal Loans in Jordan (August 2021)

Aug 24, 2021 by AmwalCom

“There are two sure ways to lose a friend, one is to borrow, the other is to lend.” A quote by the American writer ― Patrick Rothfuss
And in order not to lose your friends, we will help you find the best personal loan from Jordanian banks!

What does it mean when we say the best personal loan? Is it the best interest rate or the highest term period?  Is it the one with the best DBR?

Accordingly. the definition of the best loan differs from one person to another and depends on certain factors that might not be equal for everyone like:

Employment Sector
Net Income
Company accreditation
Required Loan Amount
Debt Burden Ration (DBR)

We provide you with the best personal loans in our opinion taking into consideration the above factors:

1- Arab Jordan Invest Bank (AJIB)


Benefits:
  • 6.5% interest rate for both the private and the public sector
  • Max. Financed Period: 10 years
  • No commission fees (1% of the loan amount)
  • Accreditation of the company is not a must
  • Min. Salary: 300 JDs for the public sector and 400 JDs for the private sector (accredited companies)
  • DBR: 50% of the salary
Caveats:
  • Salary Transfer is a must
  • Min. Salary: 700 JDs for the private sector (unaccredited companies)
  • 9.5% interest rate for unaccredited companies

2- Bank of Jordan


Benefits:
  • Interest Rate: 6.26% for salaries > 1000 JDs
  • DBR: 50% of the salary
  • Min. Salary: 350 JDs
Caveats:
  • Salary Transfer is a must
  • Interest Rate: starting from 6.66% for salaries < 1000 JDs
  • Accreditation of the company is a must
  • Max. Financed Period is 8 years only

3- Arab Bank:


Benefits:
  • Interest Rate: 6.75% for salaries > 700 JDs
  • Max. Financed Period: 10 years for salaries > 700 JDs
  • DBR: 50% of the salary
  • Min. Salary: 400 JDs
  • Interest Rate: 6.5% if age is < 25 years
Caveats:
  • Salary Transfer is a must
  • Interest Rate: 7% for salaries < 700 JDs
  • Accreditation of the company is a must
  • Max. Financed Period: 8 years for salaries < 700 JDs

4- Al Rajhi Bank


Benefits:
  • Interest Rate: 6.47% (3.5% fixed rate) if the financed period is for 3 years
  • Min. Salary: 300 JDs for the public sector
  • DBR: 50% of the salary for the public sector
Caveats:
  • Interest rate increases as the financed period increases as follows:
9.25% if the financed period is 4-5 years
10.17% if the financed period is 6-8 years
12.48% if the financed period is 8-10 years
  • Salary Transfer is a must
  • Accreditation of the company is a must
  • DBR: 45% of the salary for accredited companies
  • Min. Salary: 500 JDs for accredited companies
In summary, deciding on the best personal loan depends on your financial situation so before applying to any offer, we advise you to look at the requirements.

**You can compare between all personal loan offers here
**All offers are subject to the banks’ terms and conditions
**This article is not supported by any party

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