AlHakourah - Tejari Loan
This loan is targeting individuals who need to finance their agriculture needs as :
- Processing and manufacturing activities such as distillation of oils from medicinal and aromatic plants, production of soap and tea.
- Home-based projects such as drying vegetables and fruits, pickles, making jams and vinegar.
- Manufacture of cheese,butter and dairy products.
- Poultry and livestock projects and their supplies.
- Maintenance of pumps and simple agricultural equipment.
- Mushroom cultivation projects.
- Forming roses, flowers and ornamental plants.
- Home cultivation for productive purposes.
- All services related to the veterinary shops.
- Shops of basic agricultural equipments.
- Simple agricultural activities related as storage facilities, greenhouses, irrigation systems and fertilization.
- Owners of small shops for fruit and ornamental trees, vegetables, flowers and roses.
Individuals / customers with disabilities can benefit from all services and products provided by the company in line with internal policies.
Terms and condition applies.
Apply Online- Loan amount (JOD): From 400-3000
- Loan term (Months): 6-24
- Annual Interest rate: 21%
- Commission for granting credit (one-time upon granting):
- Subject to 1% of the credit limit if the credit limit is less than 1,000 JODs.
- Subject to 1% + 10 JODs of the credit limit if the credit limit is between 1,000 – 10,000 JODs.
- Subject to 1% + 20 JODs of the credit limit if the credit limit is more than 10,000 JODs.
- Repayment Date: 1st of each month
- Grace Period: In case of grace period utilization an additional cost/interest will be applied.
Other governmental fees:
- General Sales Tax: 3%
- Stamp income fees: start from 1-15 JOD and calculated according to the loan amount.
Payment Methods:
- In all our branches' outreach.
- eFAWAteerCOM service through approved agents, click here for more information about agents' details.
Illustrative example:
Financing with a value of 800 JODs for a repayment period of 12 months at a rate of 36.304% declining annual interest, which is equivalent to 21% fixed annual interest, and the declining interest rate depends on the financing period and it is a guidance rate.
- The total value of the interest incurred on the financing: 168 JODs
- The value of the import stamps on the contract: 2 JODs
- Amount of commission for granting credit (one-time upon granting): 8 JODs
- The value of the general sales tax: 5.28 JODs
- The value of the monthly installment for the first payment: 88 JODs (the original payment: 63 JODs and the value of the interest: 25 JODs).
- The value of the monthly installment for the remaining payments: 80 JODs, including the principal and interest.
Calculating the effective interest rate (EIR) for the financing by calculating according to the following formula (EIR) = 1-12^(IRR+1)
- In the Value field: we enter all cash flows (negative and positive)
- In the Guess field: (representing the expected return): we enter "zero".
- The result is IRR=3.71%
- Effective interest rate = 49.61%
In addition to this loan AMC provides the following added-value services:
- Free of charge workshop to support our clients by raising their awareness about o financial literacy and provide them with the latest and efficient tools and techniques to market their own products and services.
- Participation in local and national entrepreneurs competitions which allow the client to be exposed to new best practices and prizes which add value to their projects and businesses.
Notes:
No active offers is offered currently..
Apply Online
Below are the required documents for Al-hakourah loan:
- Copy of the personal ID.
- Copy of the valid family book.
- Update Proof of residence.
- Any income proof.
- Any other documents might be requested.