International Bank of Qatar (ibq) has launched the first furniture loan product in Qatar to both existing and new ibq customers with terms that include 0% interest rate, 0% fees, and zero down payment.
The ibq furniture loan is open to anyone in Qatar. Customers will be able use their ibq furniture loan to shop at some of Qatar’s interior design-conscious stores.
The product caters to the varying tastes of Qatari nationals and expatriates, including those who are moving to new houses, in addition to facilitating payment for newcomers who have just arrived in the country.
Partner furniture stores were selected to provide all household furnishing needs. ibq customers can select a living room from one store, a bedroom from another, and accessories from a third, all of which will fall under the same payment terms. Customers will have the choice of picking items to match their needs.
The high-end participating furniture shops that ibq has partnered with for the new furniture loan are Home Centre, Nabco, BoConcept, The One, The One Junior, Roche Bobois, Natuzzi, Tivoli, American Home Furniture, and Singways.
Given the variety of choices, the bank has provided simple ways to obtain the loan with flexible payment terms of up to two years and the possibility of buying furniture and accessories from any or all of the stores at the same time.
“At ibq, we recognise that buying new furniture is a big ticket item to all those setting up home or moving home and even to those who don’t want to move but want to give their homes a fresh new look,” said Andrew Ball, head of Retail Banking.
“Our new furniture loan underlines ibq’s innovative approach to making banking simple and accessible to all with no hidden charges and no exclusivity, and at the same time, the bank’s unstinting support for its customers anticipating their every need.”