QATAR ISLAMIC BANK Personal Loan - For Expat
|Minimum Salary needed||QR 5,000|
|Maximum amount available||QR 400,000|
|Length of Loan||Not mentioned|
|Profit Rate||Not mentioned|
|Upfront Fees ( if any )||No|
|Eligibility||50% of the total Salary; Age between 21 - 60; Company must be approved and accredited by QIB; confirmed Employment Status; In case of buyout liability - Liability letter from the bank addressed to QIB & Six months of bank statements|
|Main Features||Shari'a-compliant; Competitive profit rate; Three months grace period; No administration charge; No guarantor required; Quick approval from the first visit; Takaful insurance covers the finance; Ability to buy-out liabilities from other banks|
QATAR ISLAMIC BANK
Qatar Islamic Bank is one of the leading financial institutions in Qatar with a significant presence in other countries including the United Kingdom, Lebanon and Malaysia among others. Notably, it is the largest Islamic financial institution in Qatar and one of the largest in the MENA region. The bank currently has 32 branches within the country and around 175 ATMs to supplement the same. Since its founding in 1982, the bank has retained its focus on creating customer-friendly banking products that are uniquely suited to meet every need. Moreover, the bank has adopted a number of modern technologies to further improve their clients’ banking experience.
Doha is best known for its unique yet exquisite blend of tradition and modernity. Headquarters to a number of the state’s international banks, the city is also home to the Education city, an area uniquely dedicated to research. Doha is also home to the Pearl-Qatar Island, the man-made lagoon that is home to some of the most renowned boutiques in the world. A cruise on a dhow down to the Doha Corniche allows for a breathtaking view of Doha’s skyline. Moreover, the city is home to the Lincoln Center, arguably the only true Jazz center in all of the Middle East.
Expatriates can now borrow large monetary amounts to fulfill their every desire with the personal loan option provided by Qatar Islamic Bank (QIB). The maximum financial loan option provided for expatriates by this financial product is limited to QR 400,000. To qualify, one has to have a minimum salary of QR 5,000 as well as be between the age of 21 and 60. It should also be noted that the minimum financial amount that one can borrow is QR 15,000. A confirmation of one’s employment status as well as appropriate identification documents is also required for one to be eligible for this loan.