| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Bank of Beirut - Iskan Housing Loan
|
Minimum Salary: USD 0 | Salary Transfer: No | Early Settlement Fees: No | Maximum Term: 0 Years | Flat Rate: 0.0 | Reducing Rate: 0.0 |
Bank of Beirut s.a.l. has developed, in collaboration with the Public Corporation for Housing (PCH), a perfect easy-to-get housing loan at competitive benefits, exempting the borrower from paying any interest fees, i.e. at 0% interest rate.
Now, you can get your home without paying any fees during the whole loan period!
Features
- Financing all the home value: 100% financing within the limits set by the PCH
- 0% interest rate: exemption from all interest accrued on the loan during the second phase of the loan period
Representative Example
If you borrow USD 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:
Payment per month – USD 297.50 | Total charge for credit – USD 710 | Total amount you repay – USD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
