Islamic International Arab Bank PLC House Loan - Land Ijarah
|Minimum Salary needed||Not mentioned|
|Maximum amount available||JOD 250,000|
|Length of Loan||25 Year|
|Profit Rate||Not mentioned|
|Upfront Fees ( if any )||Not mentioned|
|Eligibility||Public sector employees and Companies accredited by the Bank, self-employed; Finance up to 80% of the estimated value of the property, and can be increased under certain conditions|
|Main Features||Customer share will be growing with each installment paid to become a full share in the property at the expiration of the contract; No commissions on early settlement with the possibility of partial or total payment at every contract renewal annually; Free life Takaful insurance and free insurance on the property|
Islamic International Arab Bank PLC Amman
At the heart of Jordan’s most feted and respected banks lies the Islamic International Arab Bank. The Arab Bank performs its banking duties within the confines of the Shariah law .
The bank was established in 1930 and it operates more than 600 branches all over the world, in 30 nations and 5 continents.
Last year, Global Investor named IIAB the Best Cash Manager in the Middle East and the Best Brokerage House in Jordan. Euro money also ranked IIAB the Best Bank in Jordan six years consecutively. In 2013, Arabian Business feted it as the Regional Bank of the Year.
Amman quietly sits on the western heights of Jordan. The city is the kingdom’s royal throne and principal city. It is also its largest and most populous city with a fast growing population of more than four million residents. Amman is also the main cultural and economic hub in Jordan.
Amman is like a coin with two sides that look different but still a part of each other. The old city rests on the East while the modern city lies on the West end. Amman boasts of a rich history that can be traced back old Biblical ages. Those old days it used to be called Rabbath Ammon.
House Loan - Land Ijarah
This is one of the landmark housing/land loan solutions from IIAB. It comes with unique features such as:
* Financing of up to 50% of the house’s purchase value;
* Loan amount of JD 25,000 -JD 250,000;
* Loan tenure of up to 120 months;
* Available for Jordanian nationals in the Emirates, Qatar and Bahrain,Saudia , Oman and Kuwait; and
* Pre-approved Arab Bank Visa Credit Card.
- A valid national ID for locals;
- A valid residence visa for non citizens;
- Most recent utility bill in the name of the client e.g. electricity;
- Most recent salary, income or employment verification papers;
- Property purchase and sale contract;
- Ownership certificate of the property to be financed; and
- Proof of deposit.