| | BBAC launches the BBAC expatriate housing loan | | |
BBAC recently launched the BBAC expatriate housing loan for Lebanese citizens residing or working abroad with at least two years working experience. The loan amount is up USD 500.000 or the equivalent in Euros and covers up to 70 per cent of the value of residence in case of purchase and up to 60 percent in case of construction or renovation.
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The first year interest rate is 6.5 per cent, an interest rate of Libor + 4.5 per cent for USD and Eurobor + 4.5 percent for Euro is applicable from the second year until the loan expiration, which extends up to 15 years.
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