Financing for Pensioners
The Pensioners Finance Program is available for government, civil and military employees. The bank considers the privacy and the requirements of this particular sector who wish to obtain financing facilities for various purposes granting the customers financing after transferring their salary and the salary of the sponsors/guarantors with a minimum monthly installment of 30 % from the value of the salary transfer amount under the condition that the liabilities of the beneficiary and the guarantor do not exceed the total of a 100% of the salary.
Terms
- Salary transfer letter of the pensioner and the sponsor/guarantor.
- If the sponsor/guarantor is retired, the finance is applicable if the salary guarantee for both the beneficiary and sponsor/guarantor is available in addition to the sponsorship permit of the wife, or first and second degree relatives.
- If the sponsor/guarantor is not retired, and has a first degree relation with the beneficiary, the finance is granted with the salary guarantee of both the sponsor and the beneficiary excluding both the wife’s and the first and second degree relatives’ sponsorship permit.
- Monthly installment not to exceed 30 % of the value of the salary.
- Liabilities of the beneficiary and the guarantor not to exceed a 100% of the salary. (Guarantor obligations are calculated based on their share of the premium if the content of the funding is by more than a sponsor) and not to sponsor the beneficiary with more than 2 finance schemes.
- Calculating a profit rate of 5% on USD, Israeli Shekel and Jordanian Dinar currencies for up to 6 years installment plan.
- Customer and guarantor signature on promissory notes each one of it covers the value of one-year installments of the lifetime of the financing and a structured debt bond for funds in excess of USD 5,000.
- Obtaining a Takaful insurance policy on the customer's life at the value of the total financing and the policy in the bank's favor if possible (according to the insurance agreement with the Takaful Company - for the age of the customer-).
- Grant beneficiaries of the program a USD 1000 Tayseer card regardless of the value of the salary so that it expires with the last installment of the funding with the exemption from wages for the first 6 months.