| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Fransabank - Car Loan
|
Minimum Salary: USD 0 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 5 Years | Flat Rate: 0.0% | Reducing Rate: 0.0% |
Did you find your dream car but miss the perfect financing? Fransabank Car Loan program helps you buy the new or used car you want, at the most efficient, fast and competitive way.
Features:
Representative example:
If you borrow USD 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:
Payment per month – USD 297.50 | Total charge for credit – USD 710 | Total amount you repay – USD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
Features:
- Loan amount: unlimited
- Financed amount: up to 75% of car value
- Repayment period: up to 5 years
- Free road emergency assistance
- You should have the Lebanese nationality
- You should be between 21 and 64 years old at loan maturity
- You should be in the same company or own the same business for a minimum of 1 year
- Copy of identification card or valid passport
- Proof of residence such as mayor certificate, electricity, telephone, or water bill
- Copy of Driver's Licence
- Car specifications
Representative example:
If you borrow USD 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:
Payment per month – USD 297.50 | Total charge for credit – USD 710 | Total amount you repay – USD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
** 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
