| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Credit Libanais - Home Loan
|
Minimum Salary: USD 750 | Salary Transfer: No | Early Settlement Fees: No | Maximum Term: 30 Years | Flat Rate: 0.0 | Reducing Rate: 6.85 |
The Credit Libanais Home Loan is a great option if you need to finance the purchase or renovation of your home.
Features
- Preferential interest rate
- Repayment period from 3 to 30 years
- Repayment in equal monthly installments
- Monthly payments should not exceed one-third of salary/income
- No mortgage fees and no stamp fees on loans for homes valued at USD $120,000 or less for a period of 7 years at leas
- You will get a pre-approved credit card for the first year with every approved loan
** 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
