Intaji loan (Individual)-Fixed Assets - Ahli Microfinance Company

Intaji loan (Individual)-Fixed Assets

Intaji loan (Individual)-Fixed Assets

Intaji (Individual) loan aims to finance owners of micro and household businesses or professionals, vocational and freelancers working for their own projects to help them continue the work of their projects and cover their capital expenditures.

Individuals/customers with disabilities can benefit from all services and products provided by Al-Ahly Company, in line with internal policies.

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  1. Loan amount (JOD): From 1000-5000
  2. Loan term (Months): 8-36
  3. Annaul Interest rate (Declining): 15%
  4. Grace period: Up to 6 months, and in case of grace period utilization an additional cost/interest will be applied.
  5. Payment date: 1st of each month

Other governmental fees:

  1. General Sales Tax : 3%
  2. Stamp income fees: starts from 3 -15 JOD and it is 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 of 3200 JODs for a repayment period of 12 months at 15% declining/annual interest rate:

  • The total value of the interest incurred on the financing: 70 JODs
  • The value of the import stamps on the contract: 12 JODs
  • The value of the general sales tax: 2.61 JODs
  • The value of the monthly installment for the first payment: 273 JODs (the original payment: 260 JODs and the value of the interest: 13 JODs).
  • The value of the monthly installment for the remaining payments: 274 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=0.00496
  • Effective interest rate = 6.12%
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In addition to this loan AMC provides the following added-value services:

  1. and prizes which add value to their projects and businesses.

Notes:

  1. The loan will be guaranteed by Jordan Loan Guarantee Corporation.
  2. The loan will be provided with free credit life insurance.
  3. Free of charge access to annual bazaars which allow AMC clients to market their products and services.
  4. Free of charge attendance to financial literacy and marketing workshops and awareness sessions.
  5. Participation in national and international entrepreneurship competitions, which allows our clients to be exposed to new best practices and prizes which add value to their projects and businesses.

Notes:

No active offers is offered currently.

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Below are the required documents:

  1. Copy of the personal ID.
  2. Copy of valid family book.
  3. Update Proof of residence.
  4. Valid commercial registery.
  5. A copy of the profession license.
  6. Proof of income.
  7. New stamped bank statement for 6 months.
  8. Purchasing bills.
  9. Financial statements.
  10. Any other documents might be requested.
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