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.

 

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

Details of commissions, fees, and penaltiesClick here  to view the details

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

  • 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 In 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 Application

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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.
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Calculate your monthly installment

0 JD

1000 JD

4000 JD

0 Month

1 Month

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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.