The International Bank of Qatar (IBQ) launches the latest of its innovative programmes; a new vehicle-loan scheme available for both existing and new customers, which will run until the end of this year. The scheme which is being offered with very competitive interest rates also offers customers the benefit of long interest-free periods meaning that the interest paid by customers availing of an IBQ vehicle loan during the promotion period is the lowest on offer.
Packed with a bundle of benefits and bonuses Gary Mond, Head of Retail Banking commenting on the new IBQ vehicle-loan scheme said, "As Qatar continues to grow and develop; the needs of its residents also change. As part of our mission at IBQ, we aim to deliver services that enable people to adapt to today's needs without burdening their resources." He continued, "We believe that this innovative promotion will allow people to achieve a more efficient and comfortable lifestyle by giving them access to easy and flexible transport at their fingertips without the significant financial load."
The new vehicle-loan scheme offers loan-seekers the benefit of a full year completely free of interest charge over a 5 year repayment period. Nine months no interest charge in the event of a 4 year repayment period and six months no interest charge for a 3 year repayment period. Simplifying banking requirements for its customers, ensuring efficient and speedy administration the new vehicle loan scheme entails no guarantor, prompt approvals and responses, and requires no salary transfer so is available to everyone.
As a testament to its commitment in building long-lasting relationships, IBQ's new vehicle-loan scheme grants new customers, seeking an auto-loan, a bonus of 1000 QR in cash if they transfer their salaries to IBQ. This token of appreciation, will be on offer to all new customers wishing to begin a relationship, and bank, with IBQ during the four months of the auto-loan promotion.
"At IBQ we strive to give more value added services to differentiate our products from the standard. Any bank can offer car loans at competitive interest rates, only IBQ can guarantee an interest free period, make sure the procedure is quick and smooth, with no guarantor and assist with vehicle-insurance coverage. said Abdulaziz Al-Khater, Manager of Retail Banking at the International Bank of Qatar. "With our new promotion you get all that and more. We know from our experience what consumers’ needs are and that is at the forefront of our services and the value we give with each service." Al-Khater added.
Offering customers convenience and flexibility the new vehicle-loan scheme is available to all residents of Qatar at any one of IBQ's branches. IBQ recently opened its C-Ring Road Branch. To give customers greater flexibility and convenience both Branches will offer banking services from 8pm – 10pm, Sunday through to Wednesday during the Holy month of Ramadan.
About International Bank of Qatar (IBQ)
IBQ, previously known as the Grindlays Qatar Bank is one of the oldest Bank's in Qatar and celebrates 50 years of banking in 2006. Previously, it was a member of the ANZ Grindlays banking group. The Standard Chartered group acquired the bank in 2000 and in 2003 sold its % stake to local shareholders, which made the bank fully locally owned and independently managed.
In 2004, National Bank of Kuwait acquired 20% stake in the Grindlays Qatar Bank, and assumed management responsibility. At the same time the name was changed to the International Bank of Qatar.
