1. Loan amount (JOD):  From 425-5000
2. Loan term (Months): 8-30
3. Annaul Interest rate:

• • 26.4% for the first and second cycle.
  • 24% for the 3rd cycle or more.

Payment date: 1st of each month

Grace Period: In case of grace period utilization an additional cost/interest will be applied.

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.

•  

Other governmental fees:

1. General Sales Tax: 3%
2. Stamp income fees: start from 1-15 JOD and calculated according to the loan amount.

Payment Methods:

1. In all our branches' outreach.
2. 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 44.815% declining annual interest, which is equivalent to 26.4% 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: 211 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: 6.576 JODs
• The value of the monthly installment for the first payment: 87 JODs (the original payment: 56 JODs and the value of the interest: 31 JODs).
• The value of the monthly installment for the remaining payments: 84 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=4.18%
• Effective interest rate = 63.39%

 

 

Apply Online

In addition to this loan AMC provides the following added-value services:

1. Free of charge access to annual bazaars which allow AMC clients to market their products and services.
2. Free of charge attendance to financial literacy and marketing workshops and awareness sessions.
3. Participation in national and international 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 Ambition loan:

1. Copy of the personal ID.
2. Copy of the valid family book.
3. Update Proof of residence.
4. Proof of income.
5. Valid License "In case the business is licensed".
6. Any other documents might be requested.

Apply Online