Doha Bank on Saturday launched an innovative loan product called ‘Cash Loan against your Owned Gold’. It’s the first time that a bank in Qatar is unveiling a product in this category whereby everyone can get instant cash loan up to 60 percent of the value of their gold charms, bracelets and jewellery.
“Whether you are a Doha Bank customer or prospect, you can get instant liquidity without having to sell your belongings. This is certainly a smart way to tuck your gold safely in the bank, and an awesome opportunity to make the best out of it”, the bank said in a statement.
The loan can be paid off in flexible monthly instalments up to a period of 36 months. Doha Bank Group CEO Dr R Seetharaman said: “We won’t stop exploring innovative methods to deliver the highest value to our customers, especially with regards to their financial needs and security. Loans granted against gold are deliberately designed to give customers better ways of maintaining their purchasing power without forsaking their cherished gold or valuable belongings.”
Suresh Bajpai, head of retail banking at Doha Bank, said: “We are offering our customers the loan against their owned gold, with hassle free simplified paperwork, quick processing, easy repayment options and attractive interest rates. Besides, they don’t need to transfer their salary in case they are employed.”
source: Qatar Tribune
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