| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Banque Misr Liban - Housing Loan
|
Minimum Salary: USD 0 | Salary Transfer: Yes | Early Settlement Fees: No | Maximum Term: 20 Years | Flat Rate: 9.0 | Reducing Rate: 0.0 |
Loan Amount
Up to USD 1,000,000
Loan Tenor
Maximum 20 years
Interest Rate
First year 8.5% Next years BRR +2% (Min 9%)*
The rate will be reviewed every year
File Fees
0.5% of loan amount/Minimum USD 250
Financing
Up to 75% of apartment purchase price or appraised value
Age
Minimum 25 years old and maximum 64 years old at loan maturity
Insurance
. Life insurance
. Fire insurance
TAPR 8.45%
Currently the BRR as of March 2019: USD 9.29 %
Guarantees can be requested on a case by case basis
* Terms and conditions apply
** 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
