Dual Loan
  • Target Audience:

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. and for the purpose of paying an obligation on the customer such as completing the price of a car or maintaining or licensing the car, or for purposes not listed above and accepted by Al-Watani.

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 = 40 months max.

Details of commissions fees, and penalties

Click here  to view the details

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

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.

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

Warranties

400-600 JD

601-799 JD

800-1500 JD

1501-4000 JD

 
  • No guarantor needed unless there are obligations on the family
  • It is possible to grant spouses a dual loan up to 500 JD if house is owned by husband or his family, otherwise a guarantor is needed
  • Personal guarantor
  • Proof of income to the Client or to one of the guarantors for loans above 700 JD
  • Personal guarantor
  • Proof of income to one of the guarantors
  • 2Personal guarantor
  • Proof of income For one of the clients, in addition to proof of income for the guarantor, and one guarantor can suffice.
  • In the event that proof of income for the two clients is attached without supporting proof of the guarantor’s income, one sponsor may suffice.
 

Paper work:

  • Basic documentation

Paper work:

  • Basic documentation for guarantors 
  • Proof of income Submitted by one of the parties (proof of income is attached according to the nature of the work and in accordance with the guarantee policy).

Paper work:

  • Basic Documentation for guarantors 
  • Proof of income Submitted by one of the parties (proof of income is attached according to the nature of the work and in accordance with the guarantee policy).

Paper work:

  • Basic Documentation for guarantors 
  • Proof of income Submitted by one of the parties (proof of income is attached according to the nature of the work and in accordance with the guarantee policy).

 

 

Loan Application

fieldset 1
One file only.
50 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.
50 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.
50 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.
50 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.
50 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.
To create your own e-wallet, Please fill out the wallet opening request   
fieldset 2
fieldset 3
CAPTCHA
Enter the characters shown in the image.
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

Calculate your monthly installment

0 JD

400 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.