LebGeeks

hkbazzi

Member

Banks with the cheapest loans

Planning on getting a personal loan, any suggestions for a bank with low interest rates?
I still didnt domicile a bank account anywhere, please advise

Last edited by hkbazzi (August 16 2018)

Bahij.M

Member

Re: Banks with the cheapest loans

Credit bank had the lowest interest rate 4 months back not sure about now but i think you should give it a shot.

hkbazzi

Member

Re: Banks with the cheapest loans

thanks man

Gamer

Member

Re: Banks with the cheapest loans

http://www.opportunities.com.lb have a book called easy banking, you can find it at Antoine and/ or Malik's,

Table of Content
http://www.opportunities.com.lb/Lebanon … anking.asp

it tells you all the banks in Lebanon, (make sure you have the most recent one), they make them either annual or bi-annual

Gamer

Member

Re: Banks with the cheapest loans

http://www.easybanking.com.lb//Personal … lator.aspx
compares all the loan

AVOlio

Member

Re: Banks with the cheapest loans

That's some good info @Gamer, thanks.
From the second link that you provided, the lowest interest rate that I saw was with Emirates Lebanon Bank at 7.3%

xazbrat

Member

Re: Banks with the cheapest loans

That's some good info @Gamer, thanks.
From the second link that you provided, the lowest interest rate that I saw was with Emirates Lebanon Bank at 7.3%

Just make sure you add fees and other charges to calculate the true borrowing rate.  With the way they calculate loans here, a $10,000 loan for 5 years at 5% interest will run you about $208 per month (10,000 + (5*(.05*10000))/60).  If they add in some bs fee, stamps and other stuff say for 200 a year, then your effective interest  interest rate would be higher.  Based on the simple interest they use in the US and UK, the effective rate on the first loan is close to 8% and the second loan is closer to 10%.

The loans here are calculated in full with the total amount of interest worked into the initial loan amount (so loan would be 12500, not 10000) while the loans in the US and UK only base the interest on the amount of the loan still outstanding so you could prepay them and pay less interest while the loans here do not give you a good reason to prepay.

Guitaret

Member

Re: Banks with the cheapest loans

Hello guys, just reopening an old thread. What are the interest rates for personnal loans recently? Anyone willing to share?

Salloum

Member

Re: Banks with the cheapest loans

Interest rates are through the roof nowadays, for a personal loan you’re likely looking at around 17-19% effective rate.

Guitaret

Member

Re: Banks with the cheapest loans

Interest rates are through the roof nowadays, for a personal loan you’re likely looking at around 17-19% effective rate.

Yeah, I have an idea but I wanted to know if any member here has experienced a better story and is willing to share a better offer he got.