Overview
It’s never been that personal with your personal loan from BCN. Tailored to your own needs, this medium-size loan offers you attractive credit features and flexible payment conditions to help you fulfill your aspirations.
Features
- Amount: Between USD 1,000 and USD 15,000 or C/V in LBP
- Monthly payments: Up to one-third of monthly salary/income
- Repayment period: 1-4 years
- Interest: Competitive rates
- Currency: LBP or USD
- File fees: USD 100 or equivalent
- Grace period: N/A
Eligibility
- 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 at the same company
- Age between 21 and 64 years old (last settlement of loan)
- Lebanese citizen for at least 10 years residing in Lebanon
- NSSF registered
- 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 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.
- File fees: USD 100
- Clean judicial record
Collaterals/Support Accepted to BCN
- Cash collateral: 110% (of principal plus interest) if same currency, 120% if different currency, 120% USD vs. LBP deposit with a spread of 2% on same currency and prime
rate on different currency
- Salary domiciliation
- Personal guarantee
- Proxy to mortgage
- Real estate mortgage
- Life and PTD insurance are a must against personal and housing loans
- The Retail Committee has the right to ask for any other collateral as per the credit profile of client
