EPP-Overview

The National Bank of Iraq offers the Easy Payment Plan (EPP), an installment payment service linked to your salary debit card. The service enables you to make purchases at approved merchants through Point of Sale (POS) terminals connected to the Switch network, with repayment structured over a period of up to 12 months. EPP is designed to provide a secure, flexible, and convenient method for managing your personal expenses in alignment with your financial capacity.
 
Service Benefits

• Installment periods of 3, 6, or 12 months
• No credit card required — the service operates exclusively through your salary debit card
• Credit limit is determined based on your monthly salary
• Multiple purchase transactions permitted within the approved credit limit
• Full visibility of transactions and installment schedules through the Bank’s official channels
 
Eligibility

Customers with Existing Loans:
Eligible to subscribe to EPP provided that the total Debt Burden Ratio (DBR), inclusive of the new installment, does not exceed 50% of monthly net salary.
Customers without Existing Loans:
Eligible to utilize the full approved credit limit, with repayment distributed across equal monthly installments.
 
Credit Policy and Controls

• Credit limit is assessed based on the customer’s net monthly income and total financial obligations
• Maximum credit limit: one month’s net salary, subject to a ceiling of IQD 3,000,000
• Minimum transaction value: IQD 150,000
• All obligations are computed in accordance with the Bank’s approved credit risk controls
 


Default and Collections
In the event of payment default, the Bank reserves the right to initiate approved collection procedures and refer the account to the Collections Department for appropriate legal action.
 

Terms and conditions:

TERMS AND CONDITIONS

General Instructions:

• The Bank identify the list of eligible customers from public sector and private sector employees whose salaries are deposited with the Bank.
• Eligible customers for this service must have no existing loans with the Bank, within the acceptable BRD.
• The installment period extends from 3 months / 6 months / 12 months.
• Eligible customers shall be notified of the service subscription via SMS / the Bank’s dedicated communication channels.
• The credit ceiling shall be determined based on the employee’s salary (customer) and their credit obligations.
• Installments shall be deducted automatically on a monthly basis upon salary receipt.
• The customer is entitled to make early repayment of the remaining installments at any time without penalty.
• The customer may conduct purchase transactions on installment basis for up to 5 transactions within the approved credit limit.
• The Bank shall provide the installment payment service to its customers at merchants who have signed agreements with the Company.
• It is mandatory to verify that the merchant’s name / the merchant is not listed on local and international blacklists.
• All purchase transactions shall be conducted in Iraqi Dinars.
• In case of default on payment, approved collection and follow-up procedures shall be applied