Car Loan

Looking to buy your first car? Time to upgrade the family’s sports utility vehicle? Then the Federal Bank of Lebanon S.A.L. Car Loan could be the solution. It is developed specifically to allow you to buy a new or used car for your private use.

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Terms & Conditions

  • All applicants should have held Lebanese citizenship for at least 10 years.
  • Age of applicant should be minimum 21 years and maximum 60 years.
  • Employment period should be minimum 1 year for employees and 2 years for self-employed.
  • Applicants should have an income of at least USD 500 per month as basic salary or USD 1200 per month if self-employed.
  • Repayment period from 2 to 5 years
  • Car Loans will be granted in USD only.
  • Car age for used cars up to 10 years.

Guarantees and Insurance

  • Mortgage of the car.
  • All risk motor insurance.

Free Privileges

  • Auto road assistance 24/24H.
  • Life insurance.
  • Other benefits could be offered upon client’s request.

APR

Loan Type Currency Amount Duration APR*
New Car USD 15,000 5 Years 11.75%
Pre-Owened Car USD 11,750 5 Years 14.80%
*APR Including File Fees, Mortgage Fees, Mortgage Release, Life Insurance, Stamp Fees, and Excluding Motor Insurance Premium

This document is provided by the Bank for simulation purposes only & won't engage the Bank in granting the loan accordingly.

Required documents

The following is a list of the documents you will be required to submit when applying for this loan:

  • Copy of ID or valid Passport or Civil Status ( < 3 months)
  • Authenticated proof of income ( < 1 month)
  • 15% of additional proved income + 100% of wife and husband if co-borrower
  • Proof of residence less than 1 month old or last bill (i.e.: phone, electricity)
  • Syndicate or Institution membership card (Public Sector)
  • Last pay slip if available