| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Banque Libano Francaise - iLoan
|
Minimum Salary: USD 800 | Salary Transfer: No | Islamic Finance: No | Maximum Term: 3 Years | Flat Rate: 6.9% | Reducing Rate: 12.42% |
Do not compromise on technology! With BLF iLoan, you can now purchase high-tech products, combining design and performance, at our selected partners.
Features
- financing the acquisition of high-tech products
- currency: USD only
- loan amount: minimum USD 400 | maximum USD 6,000
- preferential fixed interest rate over the loan period
- loan period: minimum 6 months | maximum 36 months
- life insurance: offered by the Bank
- no down payment required
- no file fees
- possibility to apply for the loan at our partners' points of sale or any BLF branch
- guarantee: free life insurance in favor of the Bank (other guarantees may be required on a case-by-case basis)
Eligibility
- nationality: Lebanese
- age: 21 - 64 (at loan submission)
- occupation: the applicant should be: an employee with a steady job and income for more than 18 months, a self-employed with a minimum 3-year work experience in the same field
- minimum required monthly income: LBP 1,200,000 or the counter value for employees, LBP 2,500,000 or the counter value for self-employed
- monthly payments: maximum 33% of the monthly income for employees and self-employed
** 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
