Doha Bank unveils home loan offer

Doha Bank has announced the launch of its new retail home loan offer, which now features a 3.99% interest rate for the first year. It also includes 12-month payment holiday to customers with an option to get up to QR20,000 to offset the early settlement fees when transferring a home loan from another bank to Doha Bank. The limited time offer gives free fire insurance for the first year, free management and mortgage fees, free mortgage saver account, which pays 1.25% per annum interest rate up to QR2mn, and free for life VISA Infinite or Platinum credit card. The bank will provide loans of up to 70% of property value for Qataris and expats, with mortgage repayment periods of up to 20 years.The updated home loan offering features four product variants for discerning individuals and families. Qatari customers can obtain housing loans for ‘ready to sell properties’ or houses and villas under construction, while expatriates and Qataris can benefit from leasehold and freehold property purchases.Doha Bank Group CEO Dr R Seetharaman said: “Our customers’ needs are paramount and we believe in launching products best suited and geared towards their expectations. Doha Bank recognises that the property market is an important element of the Qatar economy. “There has been overall stabilisation of the real estate market this year, particularly in retail mortgage properties, and much of this can be attributed to current and future spending on infrastructure works, and reinvigorated real estate development in Qatar.”Doha Bank head of retail Gul Khan added: “The process for applying is easy and fast and is expedient for anyone searching equally for a great offer and a great service offered by all our housing loan agents.”