Banki Line of Credit Vs. Other Solutions

Free application

Transparent 2.5% flat fee on transactions

Repay next billing cycle

Revolve by paying minimum amount

No hidden fees

OTHERS

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Application fees

Hidden transaction fee

Frozen credit line

No flexibility

Early payment fees, processing fees, subscription fee

Frequently Asked Questions

What are the qualifications and documents required for the Line of Credit application?

Individuals, aged of 20 - 55 years.
Jordanian nationality
Jordanian bank account required. (Preferably at Bank al Etihad)
In case of employees, they must have a minimum income of 370 JOD per month.
In case of business owners or freelancers, they must have a minimum income of 500 JOD on average per month.
In some cases, customers may need to submit latest 12 months statements (up to 5 accounts) as additional income documents.

Banki Line of Credit Fees

Free to apply and activate. Pay a 2.5% transaction fee only when you use the credit line. No interest charged. No hidden fees.

When do I payback?

On the 25th of every month you are given a statement for the current month and repayment is due by 13th of the next month. For example, you spend 500 JOD on the Banki credit line in between 25th June and 24th July, you will be provided with a statement on 25th July for the period and will be expected to make a repayment by 13th of August.

Using the Line of Credit

The credit line is loaded in your account with us and can be used for all kinds of spending to grow your business - equipment, bill payments, e-commerce, paying suppliers who accept cards and subscriptions. You need to just send us a request to draw a certain amount with the the details and we will transfer the amount to your Bank account after approval within 24 hours.

Do I need collateral?

No personal guarantee and no collaterals required.

How do I make repayments?

You can repay your credit line through bank transfer or through SWIFT for an account with a non-JOD currency. Foreign currency conversion charges apply if you make repayments from a non JOD account.

Borrowing and expiration

3,000 JOD or higher on a case by case approval basis. The credit line amount is reviewed in 1 year from the date of approval and can be renewed or canceled at that point.

Can I make payment before the repayment date?

Yes, the full amount including fees can be repaid early.

Missed the repayment due date?

You will never be harassed for missed repayments.

Example of the Banki line of credit in action

You are eligible for a 3,000 JOD credit line.
You decide to spend 1000 JOD of the credit line to buy a new laptop and home office furniture seamlessly on the 10th day of the month.
We provide you with the flexibility of paying us back by the 13th of the following month. At the end of the payment period, you pay us 1000 JOD + 25 JOD (2.5% transaction fee)
You can rollover the statement amount to the next month by simply paying 25.625 JOD ( 2.5% rollover fee).

Application Process

Submit the required documents for your application in less than 10 minutes and wait for our team to be in touch with you. For most cases it will take 1 to 2 working days for an acceptance. Our team will be in touch in the event there are further clarifications or documents that need to be submitted - in which case the process will take slightly longer.