|Minimum Salary||Salary Transfer||Early Settlement Fees||Maximum Term||Flat Rate||Reducing Rate|
|BLC Bank - New Car Loan||Minimum Salary: USD 550||Salary Transfer: Yes||Early Settlement Fees: -||Maximum Term: 7 Years||Flat Rate: 2.17%||Reducing Rate: 3.9%|
- Between 18 and 64 years old
- Monthly income: minimum LBP 800,000 or USD 550
- Minimum 1 year in business
- Case by case
- Down payment: starting 25%Long repayment period: up to 7 years
** 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 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.