There is good news for Indian expatriates working in Qatar and Kuwait, as Doha Bank has launched its new NRI Home Loans scheme to help them buy a home in India. The loan is specifically for Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) that offers attractive rates of interest and a longer tenure.
Making this announcement, Dr R Seetharaman, CEO of Doha Bank Group, said, “This is another first for Doha Bank in Qatar and Kuwait. All our NRI customers can enjoy best in class service, as they can now get a home loan for India through a seamless approval process while being based in Qatar or Kuwait as a valued Doha Bank customer.”
By availing this loan, customers can finance their new residences, which will have a maximum tenure of upto 20 years. Further, borrowers can get attractive loan to value, with the loan amount up to INR 50 million.
In addition to this, customers have the option of choosing between fixed and floating interest rate options. Other benefits of the loan include doorstep service in India until the disbursement and insurance cover for the loans at a desirable premium.
Frank Hamer, Doha Bank chief international banking officer, said, “With Doha Bank being the leading banking partner of the Indian expatriate community, it is among our key responsibilities to support their financial needs and aspirations, and the new product is a natural outcome of this vision.”
He added, “Our network of branches servicing NRI customers in Qatar, Kuwait, and in Mumbai, Kochi, and Chennai in India ensures that our customers can benefit from a simple and easy banking experience at a location convenient to them, and make the most of the new housing loan programme and other services we offer.”
Gul Khan, Doha Bank chief retail banking officer, said, “At Doha Bank, we enjoy a longstanding relationship with the Indian community and have come to understand their needs and challenges very closely. Our new NRI Home Loans proposition addresses their long-term aspirations while providing an easy and convenient way to secure their future.”
