| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Byblos Bank - New Car Loan
|
Minimum Salary: USD 600 | Salary Transfer: Yes | Early Settlement Fees: 2% | Maximum Term: 6 Years | Flat Rate: 3.9% | Reducing Rate: 7.02% |
Whatever your station in life, buying a new car can be a major decision. Byblos Bank want to get you behind the wheel as soon as possible, so the New Car Loan is designed to provide both simplicity and flexibility.
Features:
Features:
- To finance the purchase of a new vehicle for personal use
- Competitive interest rate (flat per annum)
- Special deals with selective car dealers
- Repayment Period Up to six years
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Free 24-hour road emergency service
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Financing up to 72% of car price
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You can apply directly from any car dealer or at any branch of Byblos Bank and obtain pre-approval before even choosing your vehicle
Eligibility:
- Lebanese citizen
- Maximum age not to exceed 64 by the end of the loan period
- A minimum of two years of working experience
- Minimum net monthly income of LBP 900,000 for single applicants and LBP 1,200,000 for married applicants
- Monthly payments should not exceed one-third of salary for employees and one-quarter for self employed
** 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
