| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Credit Libanais - School Loan
|
Minimum Salary: USD 670 | Salary Transfer: No | Islamic Finance: No | Maximum Term: 1 Years | Flat Rate: 3.33% | Reducing Rate: 6.0% |
Your children's future comes first. This is why Credit Libanais is here to help you give your children the education they deserve. Credit Libanais School Loan lets you repay the normally hefty bulk sum tuition fees in easy to manage monthly repayments.
Features
- Loan amount is USD $2,000 maximum
- Loan repayment period can be spread over a maximum of 12 months
Eligibility
- Applicant's minimum average income must be USD $670
- Proof of employment
- Self employed applicants' cases must be studied
- Life insurance throughout the loan period
** 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
