FAQ

What are the types of loans that Vitas Palestine lends ?

business development , start up business , Women's Entrepreneurship

Housing Loans (Home Improvement, Home Finishing, Land Purchase, House Purchase, Home Renovation)

Personal Loans (Education, Marriage, consumption)

What is the minimum and maximum amount of loan that can be granted?
  • Personal loans: from $1,000 to $10,000

    Housing loans: from $1,000 to $40,000

    business loans: from $1,000 to $120,000

What is the time needed to complete loan applications?

The time period to complete the loan procedures after receiving all documents from the applicant is 5 business days, including approval, contract signing, and transfer to the bank account.

What are the documents needed to apply for a business loan?

- Borrower's and guarantors' identification cards (IDs)
- Proof of ownership of the business 
- Pay slips of the borrower and guarantors
- Bank account statement for guarantors and borrower if available
- Wife's ID card for inquiry purposes
- Sales ledger
- Purchase invoices
- Authorization for inquiry signed by guarantors and borrower

What are the documents needed to apply for a housing loan?

Photo ID for the borrower and guarantors

Employment verification signed and stamped as per regulations for the borrower and guarantors

Proof of ownership of the house to be improved or purchased

Bank statement for the borrower for the last 3 months, if available

Bank statement for the guarantors for the last 3 months, if available

Any other documents related to the loan

Photo ID of the spouse for inquiry purposes

Authorization for inquiry signed by the guarantors and the borrower

 

What are the documents needed to apply for a personal loan?

Photo ID for the borrower and guarantors

Income verification signed and stamped as per regulations

Bank statement for the borrower, if available

Bank statement for the guarantor for the last 6 months

Salary slips for the guarantors

Authorization for inquiry signed by the guarantors and the borrower

What are the documents needed from the guarantor (Salary Transferred )?

Photo ID of the guarantor

Recent salary slip of the guarantor

Bank statement of the guarantor for the last 3 months

Commitment to continue salary transfer in case the guarantor is a private sector employee

Any other documents related to the loan

Authorization for inquiry signed by the guarantors and the borrower

What are the documents needed from the personal guarantor ?

Photo ID of the guarantor

Employment verification signed and stamped as per regulations

Bank statement, if available

 

What are the accredited banks/partners for Vitas Palestine?

Arab Bank

Al Quds Bank

Bank of Palestine

Housing Bank

The National Bank

Egyptian Arab Land Bank

What are the types of collaterals?

 

Salary transfer

Personal guarantor

Security checks

Court promissory note

Collection checks

Car mortgage

 

What is the loan lifespan?

According to the purpose of the loan and the required amount

Can I renew the loan? and when?

After closing 30% of the current loan, and provided that the borrower is committed to repayment.

Is there any grants commission for the loan?

A granting commission of 1% per year is charged, with a maximum limit of 4%.

What is the loan amount that I can borrow from Vitas Palestine?

The loan amount can be determined based on your needs, monthly income, the results of the palestinian monetary authority inquiry, and the guarantees provided.

Can the borrower close the loan in full before its expiration ?

The borrower can repay the entire loan before the end of the repayment period and will be exempt from all unearned interest according to the company's internal regulations. However, an early closure fee will be applied.

Can the client apply for a loan through the branch while having all of the same features as the digital loan?

The only way to apply for a digital loan is through Vitas messenger to gain all of its features

Where is the location of Vitas head office?

Palestine - Ramallah - Al-Bireh - Abu Eyyad Street, behind the Muqata’a - GIZ Building

What are the official working days and hours at Vitas Palestine?

From Sunday to Thursday (from 8:00 AM to 4:00 PM)