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:
- 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