| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Banque Misr Liban - Car Loan
|
Minimum Salary: USD 0 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 5 Years | Flat Rate: 5.5% | Reducing Rate: 9.9% |
Terms and Conditions
. Loan Amount: Up to USD 40,000
. Loan Period: Up to 5 years
. Minimum Down Payment: 25% of the car price
Interest Rate
5.5% Flat Rate
File Fees
USD 200
Age
At least 21 years old at loan initiation and 64 years old upon loan settlement
TAPR: 10.5%
Guarantees can be requested on a case by case basis
Terms and conditions apply*
** 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.
Representative Example Calculator
