Car Loan
Features
- Currency: USD
- No maximum loan amount
- Down payment: 25% of car price +insurance payment
- Repayment period: between 1 year and 5 years
- Interest rate (New car): 6% FLAT
- Interest rate (used car): 7% flat if car model is ≤ 7 years or 8% flat if car model is between 8 to 10 years
- No life insurance required
- Maximum age for used cars: 10 years
- Loan given against all-risk motor insurance and mortgage on car
About You
- Lebanese nationality and resident in Lebanon
- The loan amount should not exceed 33% of your monthly salary
- Age: Between 18 and 64 years at loan maturity
- Consistently employed at the same company for a minimum of one year or 2 years in the same field if self-employed
Required Documents
- ID
- Proof of income if employee or statement of account for the last 6 months if self-employed
- Utility bill or other proof of residence
- Copy of driver’s license
- Letter received from company stating car specification
- Car insurance with LSB as 1st beneficiary
Note: Further features and requirements may vary with the applicant’s profile
