| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Federal Bank of Lebanon - Used Car Loans
|
Minimum Salary: USD 600 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 5 Years | Flat Rate: 6.25% | Reducing Rate: 11.25% |
Terms & Conditions
Guarantees and Insurance
Free Privileges
- All applicants should have held Lebanese citizenship for at least 10 years.
- Age of applicant should be minimum 21 years and maximum 60 years.
- Employment period should be minimum 1 year for employees and 2 years for self-employed.
- Applicants should have an income of at least USD 600 per month as basic salary or USD 1200 per month if self-employed.
- Repayment period from 2 to 5 years
- Car Loans will be granted in USD only.
- Car age for used cars up to 10 years.
- Car Mortgage in favor of FBL
- Motor insurance including Life covering the whole loan period
- Other guarantees defined on a case by case basis
Free Privileges
- Auto road assistance 24/24H.
- Life insurance.Other benefits could be offered upon client’s request.
** 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
