Personal Loan Against Salary Transfer

Definition

We offer you the personal loan against salary transfer to finance your needs and cover your personal or consumption expenses, such as: education expenses, holidays, medical expenses, and special occasions, where it is repaid at specific periods. The personal loan is granted to public sector employees whose salaries are transferred to the bank, in addition to private sector employees who work in recognized companies and whose salaries are transferred to the bank, in addition to executive managers, according to the credit assessment of the borrower, and in accordance with the terms and conditions approved by the bank.

Conditions

• Financing ceiling of up to 70,000 dinars or its equivalent in other currencies.
• Loan repayment term of up to 84 months.
• The value of the total monthly installments must not exceed 50% of the salary.
• Funding is granted to adults with a minimum age of 21 years and 20 years for the military.
• The applicant must be a Palestinian ID holder, or Jerusalem ID holder, or a resident in Palestine.

Advantages

• A fee-free credit card is granted for the first year, conditioned upon adherence to the allowed debt burden ratio.
• Possibility to purchase personal loans granted by other banks.
• Flexibility in deferring installments and rescheduling the loan.
• Competitive interest rates.

Required Documents

• A valid identity document (identity document or Jerusalem identity card), or a valid passport.
• A recent salary documentation for the last 3 months showing all the salary details and any deductions resulting therefrom.
• A letter of commitment to transfer the salary and continue to transfer it to the bank beside any entitlements to the employee in case of the requirement by the bank to transfer the salary, except for employees of governmental institutions.
• Bank statement for the last 6 months and/or first salary receipt.
• Proof of any additional income that is calculated in the income.
• Any other documents requested in accordance with the bank’s approved terms and conditions.

* Subject to the Bank’s terms and conditions.