·        The Interest-Free loan (Al-Qardh Al-Hassan)

This Program was prepared for securing purchases of your requirements of the following:

§         Furniture;

§         Household appliances;

§         Building materials and sanitary inputs;

§         Electronics and electrical appliances,

§         Vehicle spares and accessories;

And a lot more ……..

CAC Bank Interest-Free Loan to Employees of the Public and Private Sectors:

This loan is used only to finance the purchase of any sort of goods available with merchants participating in this service, without any add-ups or difference from the cash price. It was designed with numerous privileges, the most important of which is the "credit ceiling", which may reach 6-fold the monthly salary, and the length of the settlement period, which extends up to 12 months, and of course without interests.

Advantages of the interest free loan:

§         Non-exposure to any profits or interests;

§         Loan limit that reaches up to 6-fold of your monthly salary;

§         Settlement period extending up to 12 months.

§         Soft conditions and fast procedures;

§          Provision of a list containing a large number of prominent commercial shops, which guarantees getting hold of the stuff you desire in a competitive price.

The possibility of getting this type of Loans even in the case of having outstandings under other loans, provided that the total monthly installments do not exceed 50% of the total monthly income.

Conditions of Granting the Loan:

§        Prior Payroll & Personal Credit Agreement between your employer and CAC Bank;

§        An undertaking from your employer to deposit your monthly salary, or the calculated installments, to your account with the Bank;

§        A Guarantee of one of your colleagues;

§        Having a minimum service period with your current employer.

§        Purchasing from shops with which the Bank has had prior agreements with regard to this type of loans.

§       The minimum monthly installment is YER5,000.