Personal Loan for Residential Purposes

Definition

We offer you the personal loan for housing purposes in order to finance your housing needs, including financing the purchase of land for residential purposes, or the establishment of a real estate, including the purchase of land, or finishing, or the completion of an existing building in the Palestinian areas classified (B + C), without requiring the availability of a mortgage, with the possibility of financing real estate located in the areas of the settlement department.

Conditions

• Repayment period up to 12 years.
• A grant ceiling up to $80,000 or its equivalent in other currencies.
• Funding is granted to adults with a minimum age of 24 years.
• The value of the total monthly installments must not exceed 50% of the salary.
• Financing real estate in the areas of the West Bank or Jerusalem.
• The applicant must be a Palestinian ID holder or Jerusalem ID holder.
• Guarantors provided as guarantee must be creditworthy.

Advantages

• The loan is granted without a mortgage.
• Flexibility in deferring installments and rescheduling the loan.
• Possibility of financing for both spouses based on the joint monthly income of the husband and wife.
• Possibility to increase the loan amount.

Required Documents

• A letter from the village council confirming the ownership of the property.
• Engineering report in case of construction.
• Engineering report associated with the value in cases of finishing and maintenance.
• Building permit for new construction.
• A copy of the initial sale contract (in case of purchase).

* Subject to the Bank’s terms and conditions.