Overview
Our personalized car loan will put you on the fast track towards owning your car of choice. We work hand-in-hand with you to offer you the best terms possible and a plan designed just for you.
Features
- Amount: USD 50,000 or C/V in LBP for new car loans, USD 25,000 for used car loans or C/V in LBP
- Down payment: 25% for new cars, 30% for used cars
- Monthly payments: Up to one-third of monthly salary/income
- Repayment period: 6 years for new car loans, 4 years for used car loans
- Interest: Competitive rates
- File fees: USD 100 or equivalent
- Grace period: N/A
Eligibility
- Lebanese citizen for at least 10 years residing in Lebanon
- NSSF registered
- Minimum income requirement: USD 700 or C/V in LBP for single applicants, USD 900 or C/V in LBP for married applicants
- Minimum of two years of employment in same company
- Age between 21 and 64 years old (last settlement of loan)
- Loan does not cover cars that are 8 years old and above
- Debt to income ratio ensuring that all monthly bills, including BCN’s, do not exceed 1/3 of client’s monthly income (including transportation and family allowance).
- Client and spouse are considered one entity.
- Client should reside in the same geographical area of the bank and its branches. All exceptions are subject to the retail credit committee discretion.
- Retirement salaries are not accepted as income to clients or guarantors.
- Clean judicial record
Collaterals/Support Accepted to BCN
- Car mortgage
- Red plate mortgage (whenever applicable)
- All-risk motor insurance endorsed to the bank for the entire loan period
- The Retail Committee has the right to ask for any other collateral as per the credit profile of client
