Education Loan
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This product enables student to finance their university education in a manner that suits the incomes available in their families. While the product is designed to encourage students to academically excel and to participate socially through a number of discounts measured upon academic performance, recognition of voluntary work, impairment and the availability of other university students in one family.

 

Loan amounts

200- 3,000 JD

Repayment Period

20 months

24 months

200-1,099 JD

1,100 – 3,000JD

Percentage of Administration Fees

Pertaining to universities that signed with NMB a mutual agreement to settle tuition for students and commence with graduation:

Initial cost (for all students that do not achieve very good to excellent)

18% yearly

Students that achieve very good grades (B+,B,B-) or 80%-90%

16% yearly

Students that achieve excellent grades (A,A-) or 90% and higher

14% yearly

In the case of a student that works voluntarily for prominent organizations (King Abdullah II for development, Jordan Youth, UN agencies and regional agencies, Orphanages and Senior Houses…) six months before applying for a loan

The student receives 1% discount to the prices shown above.

In the case of a student that is handicap( deaf, blind, confined to a chair)

The student receives 2% discount to the prices above.

In the case of a student that has siblings in university as well

The student receives 1% discount to the prices above.

Pertaining to universities that did not sign with NMB a mutual agreement to settle tuition for students and commence with graduation:

Initial cost (for all students that do not achieve very good to excellent)

Pricing is according to the product (Watani, Mashrooi A and Mashrooi B)

Students that achieve very good grades (B+,B,B-) or 80%-90%

Price of the above products with the discount difference of 2%

Students that achieve excellent grades (A,A-) or 90% and higher

Price of the above products with the discount difference of 4%

In the case of a student that works voluntarily for prominent organizations (King Abdullah II for development, Jordan Youth, UN agencies and regional agencies, Orphanages and Senior Houses…) six months before applying for a loan

The student receives 1% discount to the prices shown above.

In the case of a student that is handicap( deaf, blind, confined to a chair)

The student receives 2% discount to the prices shown above.

In the case of a student that has siblings in university as well

The student receives 1% discount to the prices shown above.

  • The discounts are accumulative, A student can add more than discount together.
Summary of Percentage of Administration Fees with no discounts

Loan Amount

Percentage of Administration Fees

200-1,000

1.75% monthly

1,001 – 1,999

1.7% monthly

2,000 – 3,000

1.6% monthly

Grace period Fees

No. of days (grace period since check disbursal)/360*loan amount*interest%

Payment Date

The 25th of each month

Grant Commission

Amount of loan

from every monthly installment beginning from check disbursal.

200-1,999JD

1JD

2,000 – 3,000JD

2JD

Penalties

The percentage reaches 0.003 daily from the amount of the loan and/or due installments from each day of delay at a minimum of 1JD a day from every day of delay from paying an installment or part of an installment at the due date.

Age of client / guarantor

18-65 years

Gender of client

Male or Female

Added Value Services

Compensation for loss of customer income during hospitalization.

Payment options

NMB Branches

E-Fawateercom

Commercial Banks (Housing Bank & Jordan Kuwait Bank)

NMB Mobile App.