|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|Byblos Bank - Housing Loan Beyti||Minimum Salary: USD 800||Salary Transfer: No||Early Settlement Fees: No||Maximum Term: 30 Years||Flat Rate: 2.97%||Reducing Rate: 5.35%|
Owning a home is a major milestone in anyone's life, and a Beyti Housing Loan from Byblos Bank can help make sure you get everything just right. Beyti gives you all the tools you need to identify an appropriate property, negotiate a fair price and keep your payments within your means. It also features a preferential interest rate for Lebanese expatriates looking to buy or build a home in their homeland.
- Finance the purchase, construction or renovation of a home
- Currency: USD
- Amount: Minimum USD 25,000 - no maximum
- Repayment Period: Minimum five years - maximum 30 years
- A detailed checklist that helps protect you against common pitfalls such as buying non-registered real estate and paying an inflated purchase price
- No restrictions on the purpose of the desired home
- Application can be made singly or as a couple
- Decisions on applications communicated with minimum delay
- Possibility of financing apartment under construction with selected promoters/developers
- No mortgage fees and no stamp fees on loans for homes valued at USD 120,000 or less
- Pre-approved credit card – with USD 5,000 limit – for the first year with every approved Housing Loan
- Life insurance for the applicant
- Fire insurance on the home
- Copy of Valid Photo ID or Passport
- Copy of syndicate membership card (if any)
- For Lebanese expatriates, copy of document attesting to official residency abroad
** 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 on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.