DOHA: International Islamic (Qatar International Islamic Bank or QIIB) has unveiled two offers to 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 new vehicle finance will get the lowest flat profit rate of 2.22 percent for the entire period.
QIIB Deputy CEO, Jamal Al Jamal (pictured), said: “To better reflect the values of the Holy month of Ramadan on our offer, we have decided to give our clients a reward, equivalent to 1 percent of their personal finance amount and reduce the profit rate to a flat 2.22 percent for vehicle finance.
“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 of 2.22 percent 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 QR1,661 for 72 months and expats QR2,352 over 48 months.
Under vehicle finance, approved clients will get the lowest flat rate of 2.22 percent for the entire period of funding without the need for mortgage.
For every QR100,000 vehicle finance, Qataris pay QR1,574 over 72 months and expatriates QR2,267 over 48 months.
In eligible cases, finance will be extended within one hour. Qatari customers can opt for a grace of up to six months and expats three months. The Peninsula
