Arab Banking Corporation Personal Loan
|Minimum Salary needed||JOD 250 for public sector and JOD 350 for private sector|
|Maximum amount available||JOD 50000|
|Length of Loan||8 Years|
|Profit Rate||10.5% (Reducing)|
|Upfront Fees ( if any )||Not mentioned|
|Eligibility||Debt burden ratio is up to 55% for public sector and 50% for private sector; Salary transfer is required; Minimum age for the applicant should not be less than 21 years old; Maximum age for the applicant, from public sector, at loan maturity is 60 years old for males and 55 years old for females except for social security retirees, military or civil retirees where the maximum age at loan maturity is 70 years old; Maximum age for the applicant, from private sector, at loan maturity is 65 years; Minimum length of service should not be less than 6 months for public sector and 12 months for private sector and 3 years for members of the armed forces;|
|Main Features||Buy out loans facility is available; Guarantor is not required; Free card issuance fee for the first year; Insurance on life and total disability
Arab Banking Corporation
Well-known as ABC, the Arab Banking Corporation has been founded in 1980 through a special decree by the Amir of Bahrain. Operating in 18 countries on the five continents, its headquarter is located in the Diplomatic Area of Bahrain Manama, in the Kingdom of Bahrain. ABC is listed on the Bahrain stockmarket and is mostly owned by the Kuwait Investment Authority and the Central Bank of Libya. It offers banking services such as corporate, institutional and individual banking and investment services such as trading, syndications and treasury management. As a leader in the MENA region, it also provides Islamic Banking services.
Capital of Jordan since 1921, Amman has seen its population growing up to two millions of inhabitants, which makes this city the most populated of the country. It is also one of the oldest of the world and it is sometimes called the Roma of the Middle East, which refers to the number of its hills. As well as Roma, Amman counts numerous ruins and monuments from the Greco-Roman period, offering an amazing sightseeing to the visitors. Business men can also enjoy this city as an ideal location to conduct business projects in the MENA region, as many multinational companies have chosen this city for that purpose.
The Arab Banking Corporation provides personal loans to individuals with many benefits. The interest rate starts from 10,5% for a maximum duration of 96 months and a maximum loan amount of JOD 50000. Easy to get for a customer with a good track record and reputation, a guarantor is not required. Moreover, it is possible to buy out a personal loan earlier. To access to these benefits, the applicant should provide proofs of salary and bank statements, and then transfer its salary to an Arab Banking Corporation account. A free of charge card will be issued for the first year.