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 |
Delay Fees |
Reaching 0.003% daily of the payment and/or fees due for every day of delay to a min. of 1 JD daily for every day of delay in paying a repayment or portion of a repayment due |
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 Bank. |
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Loan Fees |
Loan Amount |
Deducted from Cheque |
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400-1999 JD |
1 JD for every repayment |
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2000-4000 JD |
2 JD for every repayment |
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Payment Options |
Cash repayments at registered banks or National Microfinance Bank branches or by mobile application or through e-fawateercom or by cheque or by wire transfer According to the credit recommendation |
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Warranties |
As listed below |
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400-600 JD |
601-799 JD |
800-1500 JD |
1501-4000 JD |
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