| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Saradar Bank - Personal Loan
|
Minimum Salary: USD 0 | Salary Transfer: | Islamic Finance: | Maximum Term: 5 Years | Flat Rate: 0.0% | Reducing Rate: 0.0% |
Are you planning to get this much needed vacation, remodel your home, help your children achieve their educational goals! Saradar Bank offers its personal loan as a flexible, smart and easy way to turn your plans into reality.
Features
- Interest rates: Fixed, regressive interest rate determined according to loan currency and repayment period
Documents Required
- Loan application
- Copy of ID
- Authenticated Salary Certificate for employees or Statement of Account for the last 6 months for self employed
- Certificate of Residence
Eligibility
- Lebanese Citizen
- Age more than 21 years old and less than 64 by the end of loan period
- Steady occupation with minimum 2 years of employment or in business
- The Monthly equal payment should not exceed 1/3 of monthly revenue for employees and 1/4 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 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
