SOLAR ENERGY LOAN

 The National Microfinance Company wants to help achieve the Sustainable Development Goals through a Green Loan product that offers a way to make the change to renewable energy.

 

Documents required for the purpose of financing through the National Company :

1) For the client's initial identification papers.

2) Credit application according to what is in force with us.

3) Attach an electricity bill in the customer's name

4) Proof of income for the client.

5) Income analysis list for the client.

6) Credit and financial analysis and report, if the project is ongoing.

7) A price offer that includes the specifications of the solar cells to be installed and agreed upon between the customer and the supplying company, and the total cost of the service.

8) Implementation agreement with the service provider company, if any.

9) The necessary approval from the electricity company or the relevant authorities (the electricity company, the Greater Amman Municipality.....)

10) It is required that the customer (beneficiary) be the owner of the property whose solar cell systems are to be installed and/or any of his family members of the first degree and/or a tenant of the property for a financial lease.

11) In the event that the (project / house) is a tenant, the granting of each case is considered separately, and a nonIn the event that the (project / house) is a tenant, the granting of each case is considered separately, and a non-objection approval from the landlord approved by a bank is required.
 

Loan Description

Traditional

Size of Loan

1000-4000 JD

Repayment length

Loan Size JD

Max. No of months

1000-2000

30

2001-3000

36

3001-4000

40

Application Fees

None

Disbursal Fees

None

Cut

None

Grace Period

None

Pricing

  • Interest is 0.5% monthly (6% annually) through designated companies
  • Interest is 1.16% monthly (14% annually) through any other company that is undesignated

Source of Payment

Cash payments at designated banks or at NMC branches or through e-fawateercom or by cheque for collection fee (according to the credit recommendation)

Debt Burden Ratio

55% calculated by dividing total repayments by income

Loan Disbursement

By official cheques written to supplier according to price quotation

Approval

According to rules and regulations as well as a credit check using available systems.

The approval takes place in the first stage and the final approval after the approval of the electricity company.

Warranties

Listed below:

1001 – 2000JD

2001 – 3500JD

  • Credit History and Income statement
  • 2 Signatory with proof of income
  • 1 guarantor in the availability of cheques as guarantee With the collection fee and according to the creditworthiness of the loan parties.
  • Proof of income for the client

Documentation

  • Basic Paper work For client and guarantors
  • Proof of income (Depending on the nature of the work and in accordance with the guarantee policy).
  • Bank statements In the event that bank cheques are presented as guarantee.
  • Project license and registration

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.
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Calculate your monthly installment

0 JD

1000 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.