DUAL LOAN
  • Target Audience:

A flexible loan product designed to capture the privacy of independent loans and the options in group lending. Loans are disbursed in one check for both parties that are both responsible for repayments. Suitable for home microbusinesses that do not need complicated procedures to be established or registration. Personal Dual loans are also available to improve living circumstances through purchases, and health. As well as, Dual loans to pay debt of many kinds or for reasons that are not listed but approved by the bank.

Loan Description

Traditional

Amount of loan

400 – 4000 JD

Repayment Period

Decided by loan amount:

Dual (A) 400-699 JD = 16 months max.

Dual (B) 700-1000 JD = 22 months max.

Dual (C) 1001-2000 JD = 26 months max.

Dual (D) 2001-3000 JD = 36 months max.

Dual (E) 3001-4000 JD = 36 months max.

Application Fees

None

Cut

None

Grace Period

None, but if requested by the clients is deducted from the pay check, calculated below:

No of days (from check disbursal to Grace Period)/360*Loan Amount*Interest Percentage

Product pricing

Interest is 1.75% monthly (Dual (A)(B)(C)) 21% annually

Interest is 1.6% monthly (Dual (D)) 19.2% annually

Interest is 1.5% monthly (Dual (E)) 18% annually

 

Loan Disbursement

E-wallet services and cheque Official cheque issued by the National Microfinance Company.

Loan Fees

Loan Amount

Deducted from Cheque

400-1999 JD

1 JD for every repayment

2000-4000 JD

2 JD for every repayment

Payment Options

Cash repayments at registered banks or National Microfinance Company branches or by mobile application or through e-fawateercom or by cheque or by wire transfer According to the credit recommendation

Warranties

As listed below

400-600 JD

601-799 JD

800-1500 JD

1501-4000 JD

 

  1. No guarantor needed unless there are obligations on the family
  2. It is possible to grant spouses a dual loan up to 500 JD if house is owned by husband or his family, otherwise a guarantor is needed
  1. Personal guarantor
  2. Proof of income to the Client or to one of the guarantors for loans above 700 JD
  1. Personal guarantor
  2. Proof of income to one of the guarantors
  1. 2Personal guarantor
  2. Proof of income For one of the clients, in addition to proof of income for the guarantor, and one guarantor can suffice.
  3. In the event that proof of income for the two clients is attached without supporting proof of the guarantor’s income, one sponsor may suffice.

 

Paper work:

  1. Basic documentation

Paper work:

  1. Basic documentation for Signatory
  2. Proof of income Submitted by one of the parties (proof of income is attached according to the nature of the work and in accordance with the guarantee policy).

Paper work:

  1. Basic Documentation for Signatory
  2. Proof of income Submitted by one of the parties (proof of income is attached according to the nature of the work and in accordance with the guarantee policy).

Paper work:

  1. Basic Documentation for Signatories
  2. Proof of income Submitted by one of the parties (proof of income is attached according to the nature of the work and in accordance with the guarantee policy).
 
  
  
  
  
  
  
  
     
     
     
  

 

Loan Application

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One file only.
8 MB limit.
Allowed types: gif, jpg, jpeg, png, bmp, eps, tif, pict, psd, txt, rtf, html, odf, pdf, doc, docx, ppt, pptx, xls, xlsx, xml, avi, mov, mp3, mp4, ogg, wav, bz2, dmg, gz, jar, rar, sit, svg, tar, zip.
One file only.
8 MB limit.
Allowed types: gif, jpg, jpeg, png, bmp, eps, tif, pict, psd, txt, rtf, html, odf, pdf, doc, docx, ppt, pptx, xls, xlsx, xml, avi, mov, mp3, mp4, ogg, wav, bz2, dmg, gz, jar, rar, sit, svg, tar, zip.
One file only.
8 MB limit.
Allowed types: gif, jpg, jpeg, png, bmp, eps, tif, pict, psd, txt, rtf, html, odf, pdf, doc, docx, ppt, pptx, xls, xlsx, xml, avi, mov, mp3, mp4, ogg, wav, bz2, dmg, gz, jar, rar, sit, svg, tar, zip.
One file only.
8 MB limit.
Allowed types: gif, jpg, jpeg, png, bmp, eps, tif, pict, psd, txt, rtf, html, odf, pdf, doc, docx, ppt, pptx, xls, xlsx, xml, avi, mov, mp3, mp4, ogg, wav, bz2, dmg, gz, jar, rar, sit, svg, tar, zip.
One file only.
8 MB limit.
Allowed types: gif, jpg, jpeg, png, bmp, eps, tif, pict, psd, txt, rtf, html, odf, pdf, doc, docx, ppt, pptx, xls, xlsx, xml, avi, mov, mp3, mp4, ogg, wav, bz2, dmg, gz, jar, rar, sit, svg, tar, zip.
To create your own e-wallet, Please fill out the wallet opening request   
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Calculate your monthly installment

0 JD

400 JD

4000 JD

0 Month

1 Month

0 Month

Note

  • The calculated monthly installment value is an approximate value for guidance purposes only and is not considered final.
  • The National Microfinance Bank has the right to change the financing value and the monthly installment according to its applicable policies.
  • It is subject to the product terms and conditions of the National Microfinance Bank
  • For more information, please contact the telephone service center at 0798777733  or at 062001010 or visit the nearest Branch to you.