| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Bank of Beirut - Taxi Loan
|
Minimum Salary: USD 0 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 5 Years | Flat Rate: 3.06% | Reducing Rate: 5.5% |
Are you a taxi driver? Do you wish to buy a new or used car, or even a red plate? Bank of Beirut gives you the opportunity to make your wishes come true.
Features:
Features:
- 100% financing
- No down payment
- Competitive interest rates
- Flexible payments: - Up to 5 years
- A Lebanese resident
- Over 18 years old
- Identification card
- Proof of residence or utility bill
- Public driving license
- Car mortgage in favor of Bank of Beirut
- Red plate mortgage in favor of Bank of Beirut
- Car insurance (all risks) over the entire loan duration in favor of Bank of Beirut
** 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.
