I- HOUSING LOANS:
Eligibility:
Lebanese citizen for at least 10 years or more
Favourable information about applicant and employer
Under the age of 54
Loan settlement must be completed before the applicant’s retirement age
Employment for 2 years or more
Working in a well-established company
Monthly salary must amount to at least 3 times the monthly payment
If the applicant is self-employed, the application is evaluated on a case-by-case basis
Loan period
From 7 to 15 years
Loan currency
US Dollars
Loan Amount
Minimum USD 20,000
Maximum USD 200,000
Applications for amounts exceeding USD 200,000 will be studied on a case-by-case basis.
Bank will finance 80% of the apartment value.
Settlement:
Equal monthly payments not exceeding 1/3 of the salary.
Interest rate:
7% for the first year and 5% + libor for the second year.
Securities:
First Grade mortgage on the purchased apartment covering 120% of the loan amount.
Life insurance covering 110% of the loan amount.
Fire insurance covering 110% of the loan amount.
Additional securities may be required on a need basis.
In case the loan is covered by a cash collateral amount, the Real Mortgage will no longer be required:
The cash collateral amount must cover 110% of the loan amount.
A spread of the 3 points between the credit and the debit interest rate is applied if the loan and cash collateral are in the same currency.
File Fees:
1% of the loan amount.
II- PERSONAL LOANS:
Eligibility
Lebanese citizenship for at least 10 years or more
Favourable information about applicant and employer
Under the age of 54
Loan settlement must be completed before the applicant’s retirement age
Employed for more than 2 years
Working in a well-established company
Monthly salary amounts to at least 3 times the monthly payment
If the applicant is self-employed, application is evaluated on a case-by-case basis
Loan period
Up to 3 years
Loan currency
US Dollars
Nature of the account
Monthly bills
Loan Amount:
Up to USD 30,000
Applications for amounts exceeding USD 30,000 will be studied on a case-by-case basis.
Settlement:
Equal monthly payments not exceeding 1/3 of the salary.
Interest rate:
11% P.A.
Securities:
Assignment in our favour of the retirement indemnity.
Additional security may be required on a need basis.
In case the loan is covered by a cash collateral amount
The cash collateral amount must cover 110% of the loan amount.
A spread of the 3 points between the credit and the debit interest rate is applied if the loan and cash collateral are in the same currency.
File Fees:
USD 50
III- CAR LOANS:
Eligibility:
Lebanese for at least 10 years or more
Favourable information about the applicant and the employer
Under the age of 54
Loan settlement must be completed before the applicant reaches retirement age
Employed for more than 2 years
Working in a well-established company
Monthly salary must be at least 3 times the monthly payment
If applicant is self-employed, application is evaluated on a case-by-case basis
Loan period
Up to 5 years
Loan currency
US Dollars
Loan Amount
Up to 80% of the car value and not exceeding USD 50,000
Applications for amounts exceeding USD 50,000 will be studied on a case-by-case basis.
Settlement
Equal monthly payments not exceeding 1/3 of the salary.
Interest rate
4.5% for new cars. 6.5% for used cars.
Commissions
0%
Securities:
Hypothecation of the car.
All-risk insurance.
File Fees:
0%
*The car loans are granted only to purchase brand new cars.
