Doha Bank launches Rent Loan product
In a statement issued to the press on the occasion of launching the Rent Loan, Doha Bank said, ‘Rent Loan product is specifically developed to extend financial assistance to the customers in order to rent a house of their choice’.
Mr. R. Seetharaman, Acting General Manager of Doha Bank in a statement said, “Doha Bank is recognized as a proactive financial institution and Rent Loan product being launched today clearly demonstrates the Bank’s role in providing proactive financial solutions to our esteemed customers”. As embedded in our mission statement ‘There is so much to look forward to..’ and we as a responsible premier financial institution will take every step to offer our customers tailor made products and services which will provide a unique ‘win-win’ proposition. Rent loan product is structured in such a way that, employees, employers and landlords will all benefit.
Qatari nationals and expatriate employees working with government, semi-government and private companies are eligible to avail the Rent loan from the Bank. Newly recruited employees at these organizations can also avail this facility. The Bank provides the loan amount equivalent to the annual rent of the residential accommodation PLUS the Kahrama deposit amount towards water & electricity connections. This facility is available at an attractive low interest rate of 6%.
Mr. Abdul Rahman Al Meer, Executive Manager of the Bank added, ‘with the launch our Rent Loan facility, customers will have more flexibility to chose a home of their choice, even the landlords will able to package the rentals very competitively with the help of our product’. This facility will also be offered as part of our ‘Welcome Pack’ service, a new employee joining the service in Qatar will be eligible to avail this facility from day-one itself. New employees and their employers need not have to worry about the arranging the finance for the accommodation henceforth. This will ensure that the new employees are productive from the Day-one of their employment, said Mr. Al Meer.
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