need better interest on personal loan from bank
I am talking to DBL and IBQ for a personal loan of QR 500,000 and they both offered me 7.5% interest on reducing balance method + one time 2.75% management fee. Repaymebnt will be 4-5 years.
Can I get any better deal from any other bank.Please let e know the bank name and contact person.
Avail the 7.49% with Standard Chartered Bank upto a maximum loanable amount of QR 400,000 for expatriates. Requirements are as follows: Latest Salary Certificate, 3 months banks statement, Photocopy of valid Passport & Res. Permit(RP). Processing is within 3-5 working days upon submittal of complete documents. For details, pls contact: MR. JOJO, #5141936.
good day GK
there are a good variety of banks around Doha
Doha bank, IBQ, NBQ, Ahli, Khaleeji, Arab Bank, HSBC,
and what u need to do is simple contact there contact centeres ask them for the amount that you are seeking how much will the installment be ... forget about interest rate ... the shorter the period the higher the install and the lower the interest your paying the bank will be
e.g.
seeking 500,000
period 4 years
installment 11,500
11,500*48 (months) = 552,000
552,000-500,000 = 52,000 is the total interest your paying the bank
so i think the better way to calculate for a loan is checking how much in interest are you paying them back
hope this can help