|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|Federal Bank of Lebanon - House Loan||Minimum Salary: USD 800||Salary Transfer:||Early Settlement Fees:||Maximum Term: 0 Years||Flat Rate: -||Reducing Rate: -|
Have you always had a vision of your dream house in your mind, but don’t know how to achieve it? Federal Bank of Lebanon S.A.L. might be able to help with the Housing Loan, a USD loan especially designed for customers who want to buy or build a new house.
- Currency: USD or LBP
- Loan Amount: up to USD 300,000 or LBP C/V
- Financing Ratio: 75% for Housing Loan Purpose – (60 % for other purpose)
- Loan Period: Up to 12 Years (Longer Loan Tenor can be applied upon Management Approval)
- Interest Rate (Variable - Regressive):
- For LBP: LBP/Beirut Reference Rate (BRR) + 2% (Minimum 10%) renewed on Yearly basis.
- For USD: USD/Beirut Reference Rate (BRR) + 2% (Minimum 9%) renewed on Yearly basis.
- Copy of ID or valid Passport or Civil Status ( < 3 months)
- Authenticated Proof of Income ( < 1 month)
- 15% of additional proved income + 100% of wife and husband if co-borrower
- Proof of residence less than 1 month old or last bill (i.e.: phone, electricity)
- Syndicate or Institution membership card (Public Sector)
- Last Pay Slip if Available
** 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.