| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Barwa Bank - Car Finance
|
Minimum Salary: QAR 7,500 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 6 Years | Flat Rate: 2.54% | Reducing Rate: 4.65% |
DRIVE AWAY WITH CAR FINANCE APPROVAL IN UNDER AN HOUR
As Qatar's fastest growing and most innovative bank, we're always looking for ways to make our customers' lives a little easier.
Now you can choose your new car and drive it home today with Barwa Bank’s new simplified car financing. We deal with all the paperwork so you won't spend time going back and forth. You don’t even need to visit your branch. In fact, all you have to do is drive away!
Shari’ah compliant, flexible, quick and easy, this is the fastest way to getting that new dream car!
Features & Benefits:
Customer must have his salary transferred to Barwa Bank:
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.
As Qatar's fastest growing and most innovative bank, we're always looking for ways to make our customers' lives a little easier.
Now you can choose your new car and drive it home today with Barwa Bank’s new simplified car financing. We deal with all the paperwork so you won't spend time going back and forth. You don’t even need to visit your branch. In fact, all you have to do is drive away!
Shari’ah compliant, flexible, quick and easy, this is the fastest way to getting that new dream car!
Features & Benefits:
- Free life insurance for the financed amount
- Attractive profit rates
- Up to seven years of financing
- Easy application process, with approval in less than 24 hours after submitting your application and documents
- Fully transparent transaction with low processing fees and no additional charges
- No hidden costs.
Customer must have his salary transferred to Barwa Bank:
- Qataris: Copy of Valid ID
- Expatriates: copy of Passport with valid Residence Permit
- Valid salary assignment letter
- Valid Quotation
- 6 month statement for new customer only
- Minimum salary QAR10,000
- Maximum finance of QAR 2 million for up to 6 years for Qataris
- Maximum finance of QAR 400,000 for up to 4 years for Expatriates
- Age of the vehicle should be 7 years at finance maturity
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.
Representative Example Calculator
