|Minimum Salary||Salary Transfer||Early Settlement Fees||Maximum Term||Flat Rate||Reducing Rate|
|Bank of Beirut - Truck Loan||Minimum Salary: USD 0||Salary Transfer: Yes||Early Settlement Fees: -||Maximum Term: 5 Years||Flat Rate: 4.5%||Reducing Rate: 8.1%|
If you seek to develop your business and need a heavy-duty vehicle with a private or red plate, "Truck Loan" is just what you need. You can now head to your dealer of choice, pick the truck you need and repay your truck loan in convenient installments at a competitive interest rate.
- Down payment: 20%
- Interest rate: 4.5% flat
- Flexible payments
- Insurance coverage: Total Loss + Life Insurance coverage
- Be a Lebanese resident
- Be over 18 years old
- Have a stable income, whether employed or self-employed
- Identification card
- Proof of residence
- Driving license
- Proof of income - Employed applicants: authenticated salary attestation from employer - Self-employed applicants: financial statements covering the last two years of business activity
- Truck mortgage in favor of Bank of Beirut
- Truck insurance over the entire loan duration
- Life insurance covering the outstanding balance of the loan
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the 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 on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.