| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Doha Bank Personal Loan
|
Minimum Salary: QAR 5,000 | Salary Transfer: Yes | Islamic Finance: No | Maximum Term: 6 Years | Flat Rate: 2.19% | Reducing Rate: 4.1% |
Doha Bank, now facilitates you with credit-line to use on demand, a lump sum for a pleasure dream vacation, or overdraft protection for your checking account — there's a right loan that meets your needs.
Doha Bank Personal Loan Features:
• Clearly personalized for your needs • We offer a loan on short terms basis against your fixed deposit with us • So you can earn interest while you
Interest Rate :
• Interest Rate Basis & Max as per QCB • *Qatari & Non-Qatari (Expatriate): -Variable -Max QCB rate +1.5%
• Interest Calculation • *Qatari and Non-Qatari (Expatriate): -Interest is calculated on a daily basis, capitalized on monthly reducing loan balance -Loan outstanding *rate* number of days /360
Loan Tenor :
*Qatari: • Minimum 6 Months • Maximum 6 Years • Tenor can be in multiples of one month within the minimum & maximum
*Non-Qatari (Expatriate): • Minimum 6 months • Maximum 4 years • Tenos can be in multiples of one month within the minimum & maximum • For fixed contract employees loan maturity should not exceed contract maturity.
Maximum Loan Amount :
• Maximum Loan Amount *Qatari: • QAR 2 Million including interest • Total exposure including interest against salary is 2 Million
*Non Qatari (Expatriate): • QAR 400,000 total exposure against salary (principal of interest) • Additional loan limit up to 1 Million will be considered for employees of Government ministries &Government companies; additional facility is against the End of Service Benefits of customer • For the previous point, official undertaking should be obtained from the employer covering the additional loan amount from EOSB • The maximum loan amount allowed is based on total exposure (QAR 400K) or loan caps mentioned per company category, length of service and salary.
Salary Criteria :
*Qatari • QAR 5,000 • Basic & social allowance
*Non-Qatari (Expatriate): • QAR 3,000 • All fixed allowances will be included
Documents Required :
*Qatari and Non-Qatari (Expatriate): • Valid ID and passport copy • Original Salary assignment letter on company letterhead stamped signed by employer • Other Banks statement if salaries transfer from other bank to DB • For Expatriates: 3 months statement if only one salary is credited to DB account • No Objection letter/clearance letter from the other bank • 6 months statement • Salary certificate
Other Requirements :
*Qatari & Non-Qatari (Expatriate): • Black list & world check report should be acceptable to bank • Customer should transfer salary to Doha Bank • Customers should not be under settlement or should not be past dues • CIB report should be acceptable to bank as per policy • Employees od Doha Bank are not eligible as per this policy • Employees of Doha Bank external Auditors are not eligible to obtain loan
Representative example:
If you borrow QAR 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:
Payment per month – QAR 297.50 | Total charge for credit – QAR 710 | Total amount you repay – QAR 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
Doha Bank Personal Loan Features:
• Clearly personalized for your needs • We offer a loan on short terms basis against your fixed deposit with us • So you can earn interest while you
Interest Rate :
• Interest Rate Basis & Max as per QCB • *Qatari & Non-Qatari (Expatriate): -Variable -Max QCB rate +1.5%
• Interest Calculation • *Qatari and Non-Qatari (Expatriate): -Interest is calculated on a daily basis, capitalized on monthly reducing loan balance -Loan outstanding *rate* number of days /360
Loan Tenor :
*Qatari: • Minimum 6 Months • Maximum 6 Years • Tenor can be in multiples of one month within the minimum & maximum
*Non-Qatari (Expatriate): • Minimum 6 months • Maximum 4 years • Tenos can be in multiples of one month within the minimum & maximum • For fixed contract employees loan maturity should not exceed contract maturity.
Maximum Loan Amount :
• Maximum Loan Amount *Qatari: • QAR 2 Million including interest • Total exposure including interest against salary is 2 Million
*Non Qatari (Expatriate): • QAR 400,000 total exposure against salary (principal of interest) • Additional loan limit up to 1 Million will be considered for employees of Government ministries &Government companies; additional facility is against the End of Service Benefits of customer • For the previous point, official undertaking should be obtained from the employer covering the additional loan amount from EOSB • The maximum loan amount allowed is based on total exposure (QAR 400K) or loan caps mentioned per company category, length of service and salary.
Salary Criteria :
*Qatari • QAR 5,000 • Basic & social allowance
*Non-Qatari (Expatriate): • QAR 3,000 • All fixed allowances will be included
Documents Required :
*Qatari and Non-Qatari (Expatriate): • Valid ID and passport copy • Original Salary assignment letter on company letterhead stamped signed by employer • Other Banks statement if salaries transfer from other bank to DB • For Expatriates: 3 months statement if only one salary is credited to DB account • No Objection letter/clearance letter from the other bank • 6 months statement • Salary certificate
Other Requirements :
*Qatari & Non-Qatari (Expatriate): • Black list & world check report should be acceptable to bank • Customer should transfer salary to Doha Bank • Customers should not be under settlement or should not be past dues • CIB report should be acceptable to bank as per policy • Employees od Doha Bank are not eligible as per this policy • Employees of Doha Bank external Auditors are not eligible to obtain loan
Representative example:
If you borrow QAR 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:
Payment per month – QAR 297.50 | Total charge for credit – QAR 710 | Total amount you repay – QAR 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
