DOHA: International Islamic (Qatar International Islamic Bank or QIIB) announced two attractive offers to its customers to coincide with Ramadan.
Customers availing new personal finance of QR100,000 or more will get a reward of 1 percent of the amount, which will be credited to their account and those taking vehicle finance will get the lowest flat profit rate of 1.9 percent for the entire funding period. International Islamic Deputy CEO, Jamal Al Jamal (pictured), said: “We are committed to providing the best to our customers. We ensure that they get the best offer sin the market. Until the end of Ramadan, our clients who have been approved for personal finance will get a reward of 1 percent of QR100,000 or more. Many car dealerships have come out with offers during Ramadan. But we have reduced our profit rate to an unprecedented, lowest flat rate for the entire period of funding. Auto financing will be extended to new and used vehicles without the need for a mortgage.”
The monthly premium for Qataris (for a personal finance of QR100,000) will be QR1,599 for 72 months and expats QR2,299 over 48 months. Under vehicle finance, approved clients will get the lowest flat rate for the entire period of funding without the need for mortgage. For every QR100,000 vehicle finance, Qataris pay QR1,548 over 72 months and expatriates QR2,242 over 48 months.
The same offer will be applicable to the clients of other banks who are willing to transfer their obligations to International Islamic. Qatari customers can opt for a grace period of of up to six months and expats three months.