Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Bank of Beirut and Arab Countries - Housing Loan Bank of Beirut and Arab Countries - Housing Loan Minimum Salary: USD 1,000 Salary Transfer: No Early Settlement Fees: No Maximum Term: 30 Years Flat Rate: 5.5% Reducing Rate: 9.9%
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You have visualized it in your imagination, you have pictured yourself walking through its halls and rooms, and you have even furnished it in your sleep. Has your dream home been a long-term ambition, but a bit too hard to achieve? With the BBAC Housing Loan, your dream home is no longer far-fetched; it’s just around the corner!
** 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.
Representative Example Calculator