LebGeeks

Tech Guru

Member

Personal Loans

Hello Fellows,

I am seeking to get a personal loan. I already know the Banks are not giving loans. Even my fresh USD Salary, above 1.5k, is domiciled at Bank of Beirut for the previous two years and they do not give any personal loans. Do we have another fast and reliable sources to get a loan here in Lebanon? Loan amount is less than 5K.

Thanks,

Guitaret

Member

Re: Personal Loans

My comment will not be helpful, as I never heard of a bank that gives loan now (except for ISKAN) but I was surprised to hear people are dealing with bank still (in terms of Fresh USD), and to say that you were doing that since 2 years (oh).
Is the experience good? how much are they charging fees?

Tech Guru

Member

Re: Personal Loans

My comment will not be helpful, as I never heard of a bank that gives loan now (except for ISKAN) but I was surprised to hear people are dealing with bank still (in terms of Fresh USD), and to say that you were doing that since 2 years (oh).
Is the experience good? how much are they charging fees?

Hi Guitaret,

For BoB they charge 1% on each 1K withdrawal + 5$ Monthly Services fees. The company I am working with signed recently an agreement with them to remove the 1% rate, effective July 2024.

Tech Guru

Member

Re: Personal Loans

Update:

Called CFC, they told me I fulfilled all requirement, but  part of their loan approval necessity is to own a home and not living with a rent contract. 

Seeking other alternatives now.

jaqen h'ghar

Member

Re: Personal Loans

Hi, I recently switched to Neo by Bank Audi the fees are 2$ per month and no withdrawal fees + you get 2 accounts USD and LBP and you can exchange money between them and deposit/withdraw cardless if you want.

It's a Digital Bank, I've only seen this concept in different countries but definitely check it out. no need to visit any branch for anything it's all on the app.

My comment will not be helpful, as I never heard of a bank that gives loan now (except for ISKAN) but I was surprised to hear people are dealing with bank still (in terms of Fresh USD), and to say that you were doing that since 2 years (oh).
Is the experience good? how much are they charging fees?

Hi Guitaret,

For BoB they charge 1% on each 1K withdrawal + 5$ Monthly Services fees. The company I am working with signed recently an agreement with them to remove the 1% rate, effective July 2024.

Guitaret

Member

Re: Personal Loans

Glad to see the banking sector is slowly offering some of the classical services, not happy to see that this is still the same banks doing so...
But what can we do, play the cards you're dealt

samer

Admin

Re: Personal Loans

Hi, I recently switched to Neo by Bank Audi the fees are 2$ per month and no withdrawal fees + you get 2 accounts USD and LBP and you can exchange money between them and deposit/withdraw cardless if you want.

It's a Digital Bank, I've only seen this concept in different countries but definitely check it out. no need to visit any branch for anything it's all on the app.

Thanks for sharing. It's nice to see a relatively "modern" banking service in Lebanon. What has been your experience with it so far? Any hidden fees or gotcha's? customer support?

jsaade

Member

Re: Personal Loans

Hi, I recently switched to Neo by Bank Audi the fees are 2$ per month and no withdrawal fees + you get 2 accounts USD and LBP and you can exchange money between them and deposit/withdraw cardless if you want.

It's a Digital Bank, I've only seen this concept in different countries but definitely check it out. no need to visit any branch for anything it's all on the app.

Thanks for sharing. It's nice to see a relatively "modern" banking service in Lebanon. What has been your experience with it so far? Any hidden fees or gotcha's? customer support?

based on their website, if it is not a payroll account, there are fees on deposits and withdrawals. Also some weird 50$ free for local bank transfers.

jaqen h'ghar

Member

Re: Personal Loans

so far it's good, more flexible than the regular Audi app. All the changes you make on the app are instant but it still needs some work.  There's a loans feature that's coming soon. they claim 24/7 support but I haven't tried calling after working hours and the chat support still doesn't work. I was able to fix a name spelling error in a phone call and the changes were applied in ~15 mins.. so just use your passport for KYC if you want to avoid this.

Audi takes a 1.5% fee with USD online transactions basically if you're paying for your subscriptions or buying stuff keep that in mind. (all banks do this but I'm not sure what the fees are with each bank)

If you're using your card internationally on ATMs/POS I don't know what the fees are yet.

It's definitely better than OMT and the other options.. If it gets adopted by the mass you can do money transactions with your friends like cashapp or venmo

They can also do fun stuff with this like add cashback or miles or some type of rewards system

Hi, I recently switched to Neo by Bank Audi the fees are 2$ per month and no withdrawal fees + you get 2 accounts USD and LBP and you can exchange money between them and deposit/withdraw cardless if you want.

It's a Digital Bank, I've only seen this concept in different countries but definitely check it out. no need to visit any branch for anything it's all on the app.

Thanks for sharing. It's nice to see a relatively "modern" banking service in Lebanon. What has been your experience with it so far? Any hidden fees or gotcha's? customer support?

jaqen h'ghar

Member

Re: Personal Loans

Ah my bad.. the leaflet i have was provided by the company.

Hi, I recently switched to Neo by Bank Audi the fees are 2$ per month and no withdrawal fees + you get 2 accounts USD and LBP and you can exchange money between them and deposit/withdraw cardless if you want.

It's a Digital Bank, I've only seen this concept in different countries but definitely check it out. no need to visit any branch for anything it's all on the app.

Thanks for sharing. It's nice to see a relatively "modern" banking service in Lebanon. What has been your experience with it so far? Any hidden fees or gotcha's? customer support?

based on their website, if it is not a payroll account, there are fees on deposits and withdrawals. Also some weird 50$ free for local bank transfers.