Rental Income Loans FAQs
Frequently Asked Questions for Rental Loans in Qatar to Qatari Nationals
FAQ’s
- Repayment period up to 5 years
- Borrow up to 50% of the rental monthly income
- Highly competitive interest rates
- Flexible monthly repayments
- Lifeguard insurance to protect your loved ones.
- Qatari National
- Salary : QAR 3,000
- Non Salary : QAR 5,000
- Salary customer : 65 years and less
- No Salary : 65 years and less
- Salary : Up to 50% from the rental monthly income ( but not to exceed QR 2,500,000)
- Non Salary : Up to 30% from the rental monthly income ( but not to exceed QR 2,500,000)
- Salary : 5 years
- Non Salary : 5 years
- The loan process will take an approximate seven working days subject to submission of all required documents.
- Tenancy contract period
- Monthly income / salary
- Yes, life insurance is mandatory and will be insured for the value of the loan at a competitive rate through Sharq Insurance to protect your loved ones.
For salaried and non-salaried customers
- ID copy
- Salary certificate addressed to Doha Bank
- 3 months personal bank statement if account with another bank ( rental income should be shown in the statement)
- Property title deed ( should be register in the customer name)
- Copy of title deed , map & quotation
- Original valid rent contract either for government, companies, or individuals
- Signed and completed application form
- Undertaking letter
- Security cheques
- All rent receivable cheques to be lodged with the Bank
- Hawalat Al Haq ( wherever its required)
- Yes, you need to sign security cheques as security to the loan
- No it’s not necessary as long as you provide us with proof of salary and lodged the receivable cheques with Doha Bank
- Yes you need to submit all document in original which will be returned to you once verified by the Doha Bank staff
- Yes, it’s mandatory that all owners should be co-borrowers
- By clicking here, leave your basic details and Doha Bank representative will contact you shortly.
Interest Calculation (APR):
- Commencing from the Loan Date, interest shall accrue on the Loan on a daily basis at the relevant Interest Rate and will be capitalized to the Loan Amount at the end of each month.
- Interest will be calculated as per following formulae. The Daily Balance of the Loan X Total Annual Rate X (1/360)
- Every payment made after the due date will result in additional interest accrual on loan
- Where a Grace Period applies or where the Customer is granted a postponement in respect of an installment, interest on the relevant Loan shall continue to accrue and will be capitalized to the Loan Amount at the end of each relevant month.
