| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
First National Bank- Personal Loan
|
Minimum Salary: USD 0 | Salary Transfer: Yes | Islamic Finance: No | Maximum Term: 5 Years | Flat Rate: 11.0% | Reducing Rate: - |
Whether you’re renovating your house, buying your home furniture, planning your wedding or the trip of your dreams, FNB offers you a flexible and suitable solution to fulfill all your desires at competitive terms and conditions.
Features
- Maximum Loan Amount: up to US$ 150,000, or equivalent in LBP. Amounts above US$ 150,000 are reviewed on case by case basis
- Maximum Repayment Period: 5 years for Private Sector and 7 years for Public Sector
- Debit Interest Rate (compounded): 11% on US$ for Private Sector and 11% on US$ for Public Sector and 15% on LBP for Private Sector and 14% on LBP for Public Sector
- File Fees: US$ 100 or LBP 150,000 for Private Sector and LBP 75,000 for Public Sector
- Quarterly Commission: 2‰ for Private Sector and none for Public Sector
- APR (Annual Percentage Rate): 16.00% for loans in LBP (loan amount LBP 30,000,000 over a period of 5 years) and 12.69% for loans in US$ (loan amount of US$ 30,000 over a period of 4 years)
- Life Insurance: to cover loan amount depending on the age of the borrower
Documents Required
- Copy of National ID or valid passport
- Proof of residence (mayor certificate , electricity, or landline telephone bills)
- For Employees:
- Authenticated proof of income
- For Self-Employed:
- In house balance sheet, or client and supplier invoices
- Statement of account for at least 6 months
- Tax declaration (if applicable)
- Commercial circular (if applicable)
Eligibility
- Be a lebanese National citizen
- Applicant must be under 64 years old at the end of the loan period
- Have a minimum of one year of working experience in the same field
- Monthly payment not to exceed 33% of the basic salary for the Private Sector and 35% for the Public Sector
** 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
