| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Bank Audi Personal Loan For The Public Sector
|
Minimum Salary: USD 0 | Salary Transfer: No | Islamic Finance: No | Maximum Term: 6 Years | Flat Rate: - | Reducing Rate: - |
Bank Audi lends a helping hand to the hand that helps citizens round the clock, providing you with the funds you want to fulfill your needs and ambitions. Benefit from a 6-year installment plan by simply domiciliating your salary at the Bank.
Features
- Loan amount up to 15 times your salary
- Loan period starting 12 months and up to 72 months
- Fast loan approval, same day if applied before 12 pm
- Interest Rates (LBP) for Public Sector Employees*: 14% up to 3 years, 14.5% over 4 & 5 years, 15% over 6 years
Eligibility
- Salary domiciliation (or appropriate guarantee)
- Public Sector employees include Armed Forces (Army, Customs, Internal Security Forces (ISF), General Security, Government Security Forces), National Social Security Fund (NSSF), and Public Educational Entities (teachers, professors, administrative staff, instructors, etc.)
- Monthly payments should not exceed 33% of the income for salaried employees and 25% for self-employed individuals
** 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.
