| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Lebanese Gulf Bank - Car Loan
|
Minimum Salary: USD 0 | Salary Transfer: Yes | Early Settlement Fees: 2% | Maximum Term: 5 Years | Flat Rate: 4.9% | Reducing Rate: 8.82% |
Loan Features
For Used Cars
Requirements
For Brand New Cars
- Loan currency : US Dollars
- Period: up to 5 years
- Financing up to 75% of the car value
- Interest rate: 4.9% flat ( APR 9.11% excluding car insurance)
For Used Cars
- Loan currency : US Dollars
- Period: up to 5 years Financing up to 75% of the car value
- Interest rate: 6.25% flat ( APR 11.93% excluding car insurance)
Requirements
Employees
Self Employed
- Photocopy of Applicant's ID or Passport
- Age between 21 and 64 by the end of the loan period
- Authenticated proof of employment for at least 1 year
- Monthly payment not to exceed 1/3 of the monthly income
- Guarantees might be required
Self Employed
- Photocopy of Applicant's ID or Passport
- Age not to exceed 64 by the end of the loan period
- Statement of account(s) for the last six months
- Monthly payment not to exceed 1/4 of the monthly income
- Guarantees might be required
** 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
