COMMERCIAL BANK QATAR Personal Loan
|Minimum Salary needed||QAR 4000|
|Maximum amount available||QAR 2,000,000|
|Length of Loan||6 Years|
|Profit Rate||A rate as low as 4.99%|
|Upfront Fees ( if any )||Not mentioned|
|Main Features||Loan Protection plan; Top up your loan after six months; 24-hour customer service;|
COMMERCIAL BANK QATAR
The Commercial Bank has been intrinsic to Qatar’s economic growth. The bank through its various products across sectors like business, investment, personal, government and international have shaped, guided and partnered the country’s growth. Interestingly, the bank’s thinking has been crucial to its success. The bank since its inception has worked on the principle that nothing is impossible or as its founding fathers’ have said- everything is possible. In line with this thinking the bank has extended its services to support the endeavours of a cross-section of people be it individuals, companies or the public sector.
The great majority of Doha’s population are expats. They come from countries like India, Nepal, Pakistan, Bangladesh, Sri Lanka, Indonesia and Philippines in South and South-east Asian countries. A sizable population also comes from North Africa, East Asia and Levant Arab countries. Expats from Canada, the United States, the United Kingdom, France, Germany, South Africa and Australia have also made a home for themselves in Doha. This unusual demography has resulted in Qatari nationals becoming a minority here. This burgeoning population of expats has now much to be happy about. The new rules allow expats to own land in several places in Doha including the new Lusail City, West Bay Lagoon and Qatar Pearl.
A personal loan from the Commercial bank offers large amounts for surprisingly low interest rates. At present the bank is offering personal loans of up to QAR 2 million at amazingly low rates of 4.99 percent. Interestingly the bank also offers its borrowers the advantage of a flexible repayment period extending up to 72 months at fixed payments per month. This gives the borrower an advantage of planning and budgeting his funds for repayment. It is interesting to note that while most banks insist on personal loans being repaid within 48 months, the Commercial Bank is able to extend much longer repayment tenure. The bank also allows borrowers to top-up the loan after 6 months, a loan protection plan and a 24 hour customer help desk.