| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Finance Bank - House Loan Subsidized by BDL
|
Minimum Salary: USD 790 | Salary Transfer: | Early Settlement Fees: | Maximum Term: 30 Years | Flat Rate: 2.9 | Reducing Rate: 0.0 |
Features
- Financing up to 75% of the value of the house.
- The loan repayment period is up to 30 years maximum.
- Maximum loan amount is 1.200 million Lebanese pounds.
- A competitive interest rate of 25% of Treasury bills/ bonds for one year + 2.9%.
- The loan is only available in Lebanese pounds.
- Grace period ranging from 3 months to 6 months maximum.
- Equal installments throughout the loan period.
Documents Required
- Personal identity card, personal civil status record, or a passport.
- Salary attestation for employees in the public or private sectors.
- For the owners of liberal professions:
- Provide financial statements covering the last three years of business.
- Statement of net income for loan applicant
** 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
