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Personal Loan for Teachers
What do I get?
- Loan period from 1 to 5 years
- Interest rate: 14%
- Currency: LBP only
What do I need?
- Salary domiciliation
- Monthly payments should not exceed 33% of your income
What is the Annual Percentage Rate (APR)?
The Annual Percentage Rate also known as APR describes the annual rate applied on a loan for the whole period.
APR calculation includes, other than the monthly payments, all mandatory fees that clients need to pay such as the file fees, stamp fees and life insurance fees.
APR calculation excludes the late payment fees and early settlement fees.
APR calculation includes, other than the monthly payments, all mandatory fees that clients need to pay such as the file fees, stamp fees and life insurance fees.
APR calculation excludes the late payment fees and early settlement fees.
What are the fees that are calculated in the APR for the Teachers Loan?
Example of the APR calculation for the Teachers’ Loan:
| Net loan amount | Rate (compounded) | Period | Monthly payment | APR |
| LBP 25,000,000 | 14% | 3 years | LBP 867,000 | 18.52% |
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