| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Fransabank - Housing Loan
|
Minimum Salary: USD 1,000 | Salary Transfer: No | Early Settlement Fees: No | Maximum Term: 30 Years | Flat Rate: 0.0 | Reducing Rate: 6.75 |
Features
- Currency: USD or LBP
- Loan amount: 500,000$
- Interest rate: competitive
- Financed amount: up to 75% of the apartment's value
- Repayment period: up to 30 years
- Free credit card
- Grace period up to 1 year
- Repay Through equal monthly installments that can reach up to 33% of your monthly income
Documents Required
- Application form
- Copy of identification card or valid passport
- Copy of family civil register
- Proof of residence such as mayor certificate, electricity, telephone, or water bill
- Copy of medical insurance card or NSSF card
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.
