* All kind of loans are subject to Stamps Fees Law and Sales Tax Law.

* Includes all persons as long as they are in full legal capacity and in line with the company’s policy and provisions.

* The company is obliged to grant funding only for legal purposes, and the fund is not granted for any kind of illegal purposes or purposes that entail environmental and social impact.

* The applicant must be of Jordanian nationality only

* The applicant must be subject to social security

* Terms and conditions apply.

*The company is an insurance agent for the Jordanian Insurance Company and its registration number with the Central Bank of Jordan is 0022/01/5/20.

A customer obtained cash financing of 250 JOD from Lakom Finance through the Tamweelcom mobile application, whereby the financing will be repaid over 5 months with a decreasing/annual interest rate of 51.893%, equivalent to a fixed/annual interest rate of 32.04%.

What is the aesthetic investment value of financing?

Total interest value on financing = 34,376 JOD

Import contingency value on the contract = 1 JOD

The value of a one-time commission = 2.5 JOD, plus 3% for the sales staff.

What is the value of the monthly acceleration installment (principal, interest, and sales tax on incentives)

The value of the monthly installment for the first payment: 56,876 JOD

The value of the monthly installment for the remaining payments: 56.8750 dinars original, including payment, interest, and sales tax on taxes

 How to determine the effective interest rate (EIR) for financing
The factory interest rate is determined by the following equation (EIR) = 1- ¹²(IRR+1)
The internal rate range [internal rate of return (IRR)] is determined using Microsoft Excel using the future (IRR) equation:-
In the value field: we get the full cash income (negative and future)
In the Guess box: (representing experience): we enter “zero”.
The result is 0.03508
Which cost the monthly cost amount (monthly actual rate)
The target price (EIR) is considered by the internal compensation rate (IRR) in the following:
Industrial Interest Rate = 1- ¹²(IRR+1)
Industrial interest rate = 99.728%