Personnel Loan

Are you eligible for the Personal Loan?

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-You must be a Lebanese citizen residing in Lebanon

-You must be between 21-64 years old at loan maturity

-You must have at least 1  year  of employment with the same employer

-You must have a minimum monthly income of USD 500 or its equivalent in LBP

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For self-employed: 2 years on the same business.

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What do you need to know about the Loan?

 

Currency: US Dollars

Loan Amount: minimum 2000, up to 15,000 USD or its equivalent in LBP

Repayment Period: up to 3 years

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Interest Rate:

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- Decreasing interest rate.

- Calculation of the interest is regressive it recognizes that part of the loan, is paid back every month       and then reduces the amount owed.  Currency USD :  20 % to 24 %

-  File Fees: 1% from capital with minimum of 25 $ paid up front Commission 0.1% monthly on high         month balance paid up front.

-  Fiscal stamp, Paragon and Central de risk fees charged & paid up front

-  Full loan settlement not allowed before one year of loan grating

-  No refund of interest when full settlement 

-  An addition of  5% penalty rate on late payment calculated 7 days after bill maturity, with minimum     of 5$ or equivalent in LBP 

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What are the guarantees and conditions required for the Loan?

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-  The monthly repayment should not exceed one third of the monthly salary if employee or 40% from     family income or one fourth of the monthly income if self-employed

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-  Life insurance policy covering death and permanent total disability from an insurance company            acceptable to Excillis.

-  Additional guarantees such as personal guarantee (employee) or real estate mortgage                           /unregistered mortgage are requested on a case-by-case basis

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Required Documents

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-  Copy of ID

-  Proof of Residence (such as mayor certificate, electricity or landline telephone bill).

- Syndicate card if available (for Doctors, Engineer)

-  If employee, a recent and original employment certificate confirming the date of employment,             position held, salary and SSNF number if available.

-  Bank statement of Account: applicant should have a steady income

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Self-employed applicants:

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-  A copy of the Company’s commercial circular and declaration of income, financial statements               covering the last two years of business activity

-  Rental document

-  Confirmation of personal assets

-  Life and Disability Insurance Policy for the entire duration of the loan

-  applicant must have been for 2 years in the same Commercial Occupation