Amman, Jordan — The Military Credit Fund has announced an increase in vehicle financing ceilings and an extension of repayment periods for officers, non-commissioned officers, enlisted personnel, and civilian employees of the Jordan Armed Forces and other security agencies.

Under the revised terms, vehicle loans are now available up to JOD 18,000 for warrant officers and above, and up to JOD 9,000 for NCOs, enlisted personnel, and civilian staff. The maximum repayment period for both categories has been extended to 8 years.

Mr. Yazid Al-Khalidi, Director General of the Fund, stated: “We regularly review our banking products and services based on feedback from our members and through close monitoring of local market dynamics and socioeconomic developments. Our goal is to meet members’ needs while ensuring their financial stability and guiding them to make responsible borrowing decisions that do not adversely affect their living conditions."

He added that the Fund continues to develop new products and services aimed at easing financial burdens on service members. Additionally, ongoing efforts are focused on enhancing digital services and upgrading the MCF mobile banking application to allow members to complete most transactions electronically, saving both time and effort.

It is worth noting that the previous vehicle loan ceilings were JOD 12,000 for warrant officers and above, and JOD 7,500 for other ranks and civilian users, with a maximum repayment term of 6 years.

For more information, visit: www.mcf.jo