Financial services
Financial inclusion is a set goal for The National Microfinance Company to be achieved by providing financial services to active and prospective clients. Participating in agricultural development as a way to combat hunger through a new bithar loan product specifically in rural areas and areas of poverty pockets. Offering Agricultural businesses financial services during these times will lead to sustainable development and an affirmation of the role of Microfinance in the economy.
- Target Audience:
Farmers and Agricultural businesses that have land or cattle that are in need of supporting their businesses whether new or reoccurring as long as the regulations permit.
Target Audience | Farmers and Agricultural businesses with land or cattle or seasonal business for the purpose of buying agricultural produce whether crops or animals as well as nourishment projects. | |||||
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Amount for Loan | 500-3500 JD | |||||
Loan Description | Bithar (A) | Bithar (B) | Bithar (C) | |||
Loan limits | 500-1000 JD | 1001-2000 JD | 2001-3500 JD | |||
Repayment Period | 20 months | 26 months | 36 months | |||
Payment Methods | Monthly/Quarterly/Lump Sum | Monthly | Monthly | |||
Grace Period | 1 Month | 1-3 Months | 1-3 Months | |||
Pricing | 19.8% Annually 1.65% Monthly | 19% Annually 1.583 Monthly | 18% Annually 1.5 Monthly | |||
Postponements | Upon approval from Branch Manager based on timely payments and proof of incapability by applying for Postponement. | |||||
Debt Burden Ratio | 55% calculated by dividing all payments with total income | |||||
Grace Period Fees | No of days (from loan transfer or cheque issuance until grace period)/360*loan amount*interest | |||||
Disbursement Fees | Loan Amount | Deduction from Cheque for every payment beginning from cheque issuance | ||||
500-2000 JD | 1 JD for every monthly payment | |||||
2001-3500 | 2 JD for every monthly payment | |||||
Payment Methods | Mobile application | |||||
e-fawateercom | ||||||
Banks (Housing Bank & Kuwaiti Bank) | ||||||
Branches (cash or cheque) | ||||||
Approval | According to lending rules and regulations and credit checks using available means | |||||
Warranties | Listed below: | |||||
500-1000 JD | 1001-2000 JD | 2001-3500 JD | ||||
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Documentation |
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Loan Application
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.