Doha Bank wants to reward you for making an environmentally-friendly choice for your next vehicle purchase. If a vehicle is a Hybrid or Electric car, it will qualify for our green auto loan.
To help transform our nation into a green, low-carbon economy in support of the sustainability agenda of Qatar Vision 2030; we are pleased to present special pricing offers on selected electric and hybrid cars as part of our Go Green initiative.
Key Features
- 0% interest for first 12 months – for loans with 6 years tenor.
- 0% interest for first 6 months – for loan with 4 years tenor.
- QCB + 1.5% reducing rate on succeeding months.
- Car Loan available for brand new and pre-owned cars.
- 100% finance for Qatari customers and up to 80% for Expats.
- Max Repayment – 72 months for Qataris and 48 months for Expatriates.
- Maximum Loan Amount – QR 2Mn for Qataris and QR 400K for Expatriates (including interest).
Eligibility Criteria
- Salary transfer to Doha Bank.
- Monthly salary of QR 5,000.
Terms and conditions
- Applicable for Electric and Hybrid cars only.
- The minimum loan term is 48 months.
- Bank will charge QCB + 1.5% for the 0% interest if the Green Auto loan is early settled before completing 4 years of tenor.
Sample Computation
| Nationality | Car Value (QR) | Down Payment | Loan Amount (QR) | Tenor (Months) | Approximate Monthly Installment |
|---|---|---|---|---|---|
| Qataris | 200,000 | 0% | 200,000 | 72 | 2,988 |
| Expats | 200,000 | 20% | 160,000 | 48 | 3,519 |
Above calculations are indicative and subject to change as per the Bank’s policy.
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.