AJIB Ma3ak

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Overview

Need to pay your rent or school fees in full upfront? “AJIB Ma3ak” is your solution; a convenient financing program that helps you pay your property rent or your children’s school tuition with 0% interest.

What is AJIB Ma3ak?

AJIB Ma3ak is a short-term financing plan designed to cover customers’ annual payments in full with 0% interest for the following categories:

  • Property rent
  • School tuition fees

Benefits of AJIB Ma3ak

  • 0% interest
  • Flexible repayment period up to 12 months maximum
  • Transparent fees: the commission is shared equally between the landlord and the tenant/the school and parent as per below:​​​​​​​
    • If the amount is financed in a single installment: a commission of 6% shall be paid by the customer and 6% shall be paid by the landlord or school.
    • If the amount is financed in two installments: a commission of 5% shall be paid by the customer and 5% shall be paid by the landlord or school.
      Example: If the annual rent is JOD 3,000 and financed in a single payment, the commission is calculated as follows: 3,000 × 6% = JOD 180 paid by the customer in advance, and the same amount is deducted from the landlord’s before issuing the cheque.
  • The bank will pay the landlord or school directly based on the finance option.
  • Commission amount will be refunded in case of early settlement, subject to AJIB's internal procedures.
  • Late payment fee of JOD 10 per month applies, without collecting any accumulated interest.

Eligibility

  • Must be at least 18 years old
  • Net monthly income JOD 700 or more
  • The beneficiary (landlord or school) must agree to pay the relevant fees to the bank: 6% for financing the amount in a single installment and 5% for financing the amount in two installments.
  • Regular salary transfer, and valid contractual documents (e.g. lease agreement or school statement including tuition fees).

Required Documents

  • Valid personal identification
  • Salary transfer letter or proof of income
  • Last 3 months signed and stamped salary slips
  • Last 6 months signed and stamped bank statement
  • Recent utility bill (water, electricity, or phone)
  • Liability Letter or Clearance Letter
  • Social Security Statement
  • Lease contract or an official letter from the educational institution