Banque de l’Habitat S.A.L. grants long-term loans in USD to purchase, to build or to renovate a housing unit. In addition, the Bank offers echo friendly solutions such as short - term Solar Energy Loan

Terms and Conditions of the Solar Energy Loan:

1- The Borrower must hold the Lebanese citizenship for at least 10 years and enjoy his/her right to legal capacity.

2- The Borrower must not be convicted of criminal charges and should have a clean judicial record.

3- The Borrower must have a clear credit history and should not have been blacklisted for the past 10 years.

4- The Borrower must be of a required age to work and be productive during the entirety of the loan repayment period, whether he/she is a resident in Lebanon or an expatriate (for employees till the age of 64, for free professionals & self-employed till the age of 70 provided that the loan tenor is no less than 5 years).

5- The housing unit, on which the panels will be installed, must be owned by the Borrower or by a family member.

6- The Borrower must first obtain the approval of the “Lebanese Center of Energy Conservation” related to the Ministry of Energy and Water, followed by the approval of the Ministry of Interior and Municipalities.

7- The Borrower must also secure the written compulsory consent of 75% of the building co- owners’ committee.

8- The Supplier must be among the list of companies accredited by the “Lebanese Center of Energy Conservation” related to the Ministry of Energy and Water.

9- The Borrower cannot submit a loan application for the purpose of repaying a previous debt or arrears.

10 - Married couples, their dependent children and family members who fall upon the couple’s responsibility are considered as one in everything related to these conditions.

11- On the contract signing date, the borrower signs to the profit of the bank, a Life Insurance Policy, paid monthly in cash in “Fresh” USD, as well as a Home Insurance Policy paid yearly, in cash in “Fresh” USD, covering fire risks, allied perils and the third party liability. Those two policies are exclusively issued by a group of insurance companies accredited by the bank.

Who is eligible to benefit from a Solar Energy Loan?

Residents and Expats, under the following conditions:

1- The household net monthly income should not exceed the amount of 2,000 USD “Fresh.

2- Applicants should be in the labor market for at least two years prior to the date of submitting the application, should have regular income based on an official employment certificate, and regular bank statements in USD 'Fresh', or any other proof of income .

All the applicant’s financial obligations and liabilities whether listed in the Centrale des Risques Information record or not, will be taken into consideration to determine the monthly net income, when calculating the loan amount.

In addition to that, the average cost of basic living expenses, transportation, fuel/diesel expenses, school and/or university tuitions and the housing rental charges (if the concerned applicant is a non-resident), will also be taken into consideration.

 3-The total monthly obligations should not exceed 45% of the household monthly net income, and the monthly loan installments cannot exceed 33% of the borrower or borrowers’ monthly net income.

Solar Energy Loan Characteristics:

•.Loan Amount: /5.000/ $ and cannot exceed 80% of the project’s cost.

•.Loan Tenor: 5 years. Early payoff is strictly forbidden.

•.Grace period: 3 months as of the contract signing date.

•.Interest Rate: 6,00 % * per annum, subject to amendment.

•.Mode of Payment: Only in Cash in USD Fresh .

•.Loan Disbursement: The loan amount will be released to the supplier, only after one of the following guarantees is secured:

A- A first degree mortgage (not necessarily on the housing unit subject of the loan).

B- A bank guarantee equal to 120% of the loan amount and in the same currency.

* Annual percentage Rate: 14,77 % (excluding life and fire Insurance premium).