HSBC Interest on loans
By smith_hessle •
HI,
I'm moving to Doha in April and I've been trying to research what the current Interest rates are for Vehicle and Personal loans as I will more than likely be needing a loan for a car whilst I am out there.
I've managed to find the Commercial bank rate and QNB rate but I cant seem to find HSBC.
Does anyone know what it is please?
I'm looking at borrowing between 60,000 - 100,000 QR
thanks
You can get loan for used car also. If u get the car through any show room, they will arrange for the loan. Just you need to sign the papers. But for used cars interest rate will be little more, around 7%.
Lets try to live within our means. Come on, just lead a simple easy life. Earn, save & then spend.
Working class people who take loans for daily needs are reason for resession in Europe. Keep away from bankers.
Wish you prosperity !!!
Best is Shoprite - they are giving away cars
Best is DOHA BANK - 0 % interest for cars
Just a caution, you can't get a loan on a used car.
Mandi
you're an idiot - the first sentence says "I'm moving to Doha in April....". Think before you post stupid comments.
Do you come to qatar for getting a Loan ?
go to the bank and ask from them directly....
typically here the interest on Vehicles are almost identical with small differences no more than 1/2 percentile. On personal loans, I am not sure but banks take time before issuing them.
Banking here is different from the west. when you arrive to work here your company usually has facilities with certain banks so you can only take facilities from those banks (you can open in any bank a savings account but you will not get any facilities with it). some of the larger companies can send your salary to any bank and then it is up to you to choose. Note that Vehicle loans tend to be straight forward as the bank co-owns your vehicle until you pay your loan back however, personal loans take more time (at least a couple of month where your salary is transferred regularly) before it is approved. Here, there is no credit history that you can transfer with you. it is all about where your salary gets transferred and which company is sponsoring you.
Bottom line, don't bother with researching any other bank as rates will be similar. the most important factor for me was how close is the branch to my work :-)
I saw on today's paper a rate of 2.65% subject to terms and conditions of the bank.
Check hsbc.com.qa/sale