|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|Federal Bank of Lebanon - Personal Loan||Minimum Salary: USD 500||Salary Transfer: No||Islamic Finance: No||Maximum Term: 5 Years||Flat Rate: 6.67%||Reducing Rate: 12.0%|
Whether you use it to treat yourself to a dream holiday or pay some unforeseen bills, the Federal Bank of Lebanon S.A.L. Personal Loan is tailored especially to cover any unexpected expenses and personal needs
- Monthly payments up to 33% of monthly income for employees and 25% for self-employed through a schedule of payments
- Minimum income of USD 500 per month or LBP equivalent for employees and USD 1200 per month for self-employed
- Personal Loan will be granted in LBP or USD
- Repayment period up to 5 years
- Guarantees will be studied on a case-by-case basis,depending on the applicant's personal circumstances
- 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
- All applicants should have held Lebanese citizenship for at least 10 years
- Age of applicant should be minimum 21 years at inception and maximum 64 years by loan end
- Employment period should be minimum 1 year for employees and 2 years for self-employed
** 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 on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.