| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
QNB Vehicle Loan for Expatriates
|
Minimum Salary: QAR 6,000 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 4 Years | Flat Rate: 4.25% | Reducing Rate: 7.65% |
Drive the car of your dreams today. A QNB Vehicle Loan is affordable and provides flexible tenure options to meet every need.
QNB Vehicle Loan for Expatriates Features:
-Low interest rates -No management fees -Fast approval -Up to 100% financing -Flexible 6 to 72 month repayment options -Financing of new and pre-owned cars -Discounted comprehensive insurance -Down payment assistance -Maximum loan amount - QR 400,000 -Maximum loan tenure - 4 years -Maximum grace period - 1 months -Minimum down payment - 20% -Minimum monthly income - QR 6,000
Documents Required:
-Salary account with the Bank required -Vehicle quotation from an approved car dealer -Original ID Card -Original, valid passport (Expatriates)
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.
QNB Vehicle Loan for Expatriates Features:
-Low interest rates -No management fees -Fast approval -Up to 100% financing -Flexible 6 to 72 month repayment options -Financing of new and pre-owned cars -Discounted comprehensive insurance -Down payment assistance -Maximum loan amount - QR 400,000 -Maximum loan tenure - 4 years -Maximum grace period - 1 months -Minimum down payment - 20% -Minimum monthly income - QR 6,000
Documents Required:
-Salary account with the Bank required -Vehicle quotation from an approved car dealer -Original ID Card -Original, valid passport (Expatriates)
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.
