FAQ
Is it possible for someone else to pay the loan installments on my behalf?
Yes, it is possible for someone else to make your payment. That person must provide us with a copy of their ID, as well as the beneficiary's information.
What is the interest rate for commercial finance?
Interest rates for commercial finance are determined according to the purpose and value of the fund.
You can use the loan calculator to estimate costs through the link below:
What is the time period for completing the funding request and receiving the loan?
A maximum period of one week after providing the loan staff with all the required papers and documents.
What is the term of the financing period?
The term of the financing period is up to 5 years for microfinance and small and medium loans, and up to 6 years for the industrial sector loans, where the term varies according to the purpose of the financing.
Is there a grant commission on funds in FATEN?
FATEN does not charge a grant commission on the funds, but receives an application fee ranging from $10 to $50 depending on the amount of the funding.
Is it possible to repay the entire loan before maturity date?
Yes, you can apply for early repayment, but in case of early repayment there is a commission of 1.5% of the loan according to the instructions of the Monetary Authority.
How much funding can I get?
The value of the loan that the beneficiary can obtain depends on the study carried out by the FATEN team to determine the purpose of the loan and the true need of the beneficiary.
Can I renew the loan? What is the period allowed for its renewal?
Yes ، full commitment to the payment is required, and the payment of 30% - 50% of the loan balance
What are the steps needed to obtain a loan from FATEN?
You can submit an application either through our branches or through any of our digital channels (website, virtual branch).
You will be contacted to visit the branch, in order to provide the loan officer with the required documents.
FATEN's team will study the application, and you will be notified when the decision is made, whether the decision is to accept the loan, change the loan terms, or to reject it.
In the event of acceptance, you must visit the branch with the guarantors to sign and then complete our procedures to receive the loan value.
What are the accepted payment methods?
You can use the following approved FATEN channels to repay your loan installments:
- Our branches.
- Banks.
- Digital wallets.
- Palpay POS.
What are the types of loans granted through FATEN?
FATEN offers a variety of loans that meet your different needs:
- Project loans: New / Existing
- Housing improvement loans
- Social loans
How much is the profit margin on Islamic finance?
The value of the profit margin on the finances is determined according to the purpose and value of the fund. You can use the loan calculator to estimate costs through the link below:
Can I apply for funding and request a loan remotely?
Yes, you can apply for funding through the FATEN website via the following link: https://www.faten.org/loan_application
Or through the virtual branch via the link: https://www.faten.org/virtual.branch/
How can I contact the company?
You can contact us via the number 1700999555, or by writing to us on social media platforms and our website, where you will be automatically answered by the e-help chatbot to answer your questions.
How can I calculate the value of the loan?
You can calculate the value of the loan through the electronic calculator on our digital channels, through the following link:
https://www.faten.org/loan_calculator
How can I file a complaint?
Providing you with a positive experience is one of our top priorities. You can submit a complaint request by filling the form via the following link, and you will be contacted by an employee within a maximum period of 3 days.
https://www.faten.org/complaints
How can I register a new account on the virtual branch?
You can learn how to create a user account by watching the following demonstration video:
https://www.facebook.com/watch/?v=988624871806330
How can I get FATEN services through the virtual branch?
You can learn how to submit a request to carry out your transactions and obtain services through the virtual branch by watching the following explanatory video:
https://www.facebook.com/faten.org/videos/637523720868325/
Can I get a loan without guarantors?
We accept all types of guarantees, but the nature of the required guarantee is determined after conducting a full credit study for financing, on which the type of guarantee is determined after the beneficiary confirms their ability to provide it.
What are the basic documents required for the borrower or the guarantor?
o A copy of the borrower’s/guarantor’s ID o A six-month account statement, if available.
o Proof of income / project / housing:
Government sector: payslip.
Private sector: letter from the company / payslip or salary transfer pledge.
Registered companies and projects: Companies Controller, Trades and Professions License, Chamber of Commerce and Industry, and any other documents that may be requested according to the activity.
Unregistered projects and businesses: letter from the municipality, village council, lease contract, partnership agreements, or any other documents requested.
For housing loans: housing permit, letter from the council, visit report (depending on the location of residents), or any other documents requested.
What types of guarantees are accepted by FATEN?
FATEN accepts a variety of guarantees, including salary transfers, regular checks, transferred payroll checks, promissory notes, mortgages, or any other guarantee acceptable to FATEN, according to the assessment of the lending staff and the branch management
How can I get a job/internship at FATEN?
You can apply for job or internship advertisements by visiting the following link:
Where is the headquarter of FATEN located?
Ramallah - Al Masyoun District - Khalil Al Wazir Street - next to the prime ministry.
What are the official working days?
The working hours of all FATEN branches are: Sunday to Thursday, from 8:30 AM to 3:00 PM. Friday and Saturday are official holidays.