| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Byblos Bank - Wedding Loan
|
Minimum Salary: USD 596 | Salary Transfer: No | Islamic Finance: No | Maximum Term: 4 Years | Flat Rate: 12.0% | Reducing Rate: - |
When it’s time to settle down, don’t settle for anything less than a magical experience. A Wedding Loan from Byblos Bank provides the financing you need to make sure your big day will always be one to remember.
Features
- Up to USD 20,000 or equivalent in LBP
- Repayment Period: One to four years
- Competitive interest rate
- Grace period of up to three months
- Free Life Insurance related to loan
- Free filing fees
Documents Required
- Copy of Valid Photo ID or Passport
- Proof of income
- Proof of residence
Eligibility
- Lebanese citizen
- Age should not exceed 40 at time of application
- Minimum salary should be at least LBP 900,000 for single applicants or LBP 1.2 million for married applicants (or equivalent in USD)
- A minimum of two years' work experience in the same field
- Monthly payment should not exceed one-third of income for employees, or one-quarter of for self-employed
Additional Information
- Zero filing fees
- Free life insurance, if contracted with ADIR, a member of the Byblos Bank Group
- Grace period of up to 3 months
** 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
