Doha Bank has announced the launch of its new NRI Home Loans for Indian expatriates to buy a home in India. The new and only mortgage product, available for Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs), offers attractive rates of interest and a longer tenure.
Doha Bank Group CEO Dr R Seetharaman 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.
As part of the NRI Home Loans, Doha Bank customers can finance their new and resale flats with the housing loan, which will have a maximum tenure of up to 20 years. In addition, borrowers can get attractive loan to value, with the loan amount up to 50mn Indian rupees.
Customers can choose 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.
“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,” said Doha Bank chief international banking officer Frank Hamer.
“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,” he added.
Doha Bank chief retail banking officer Gul Khan 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.”