Solar energy Loan | National Microfinance Bank

Financial Services

The National Microfinance Bank 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 Bank:

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
Delay Fees	Reaching 0.003% daily of the amount of the repayment and/or due repayments for every day of delay with a min. of 1 JD daily for every day of delay to pay a repayment or a portion of a due repayment
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 NMB 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

العربية

إمكانية وصول الأشخاص ذوي الإعاقة

AR

Financial Services

إمكانية وصول الأشخاص ذوي الإعاقة

Search form

AR

Financial Services