| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
HSBC Vehicle Loan for Expatriates
|
Minimum Salary: QAR 15,000 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 4 Years | Flat Rate: 2.8% | Reducing Rate: 5.04% |
HSBC Vehicle Loan for Expatriates Features:
-Low rates from just 2.8%p.a. -Finance available for both new and used cars -Two payment holidays annually -High loan amounts of up to QAR350,000 for expatriates -Comprehensive car insurance offered at competitive rates -Instalment suppression option - defer your monthly instalment up to twice a year for greater flexibility -Easy application and approval procedure
Documents Required:
-Loan Application & Agreement Form -Qataris: Copy of Valid ID -Expatriates: copy of passport with valid residence permit or work permit (valid for at least one month) -Private companies: salary assignment letter (valid for three months) -Government and/or semi-government: salary certificate (valid for one month) -Valid quotation of purchase -Comprehensive car insurance valid for one year
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.
-Low rates from just 2.8%p.a. -Finance available for both new and used cars -Two payment holidays annually -High loan amounts of up to QAR350,000 for expatriates -Comprehensive car insurance offered at competitive rates -Instalment suppression option - defer your monthly instalment up to twice a year for greater flexibility -Easy application and approval procedure
Documents Required:
-Loan Application & Agreement Form -Qataris: Copy of Valid ID -Expatriates: copy of passport with valid residence permit or work permit (valid for at least one month) -Private companies: salary assignment letter (valid for three months) -Government and/or semi-government: salary certificate (valid for one month) -Valid quotation of purchase -Comprehensive car insurance valid for one year
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.
