|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|Byblos Bank - Wedding Loan||Minimum Salary: USD 665||Salary Transfer: No||Islamic Finance: No||Maximum Term: 5 Years||Flat Rate: 6.67%||Reducing Rate: 12.0%|
I need a practical solution to advance my wedding date, and Byblos Bank is standing up for me with the Wedding Loan, a purpose-built facility that helps complete my marriage plans on preferential terms. Now my fiancée and I can get married how, where and when we want.
- Up to USD 15,000 or equivalent in LBP
- Repayment Period: One to five years
- Competitive interest rate
- Grace period of up to three months
- Free Life Insurance related to loan
- Free filing fees
- Lebanese citizen
- Age should not exceed 40 at time of application
- Minimum monthly salary of LBP 1 million
- A minimum of two years' work experience in the same field
- Monthly payment should not exceed one-third of income for employees, or one-quarter of 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.