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Tribune news netwrok
Doha
Doha Bank has launched new 'NRI Home Loans' facility for Indian expatriates working in Qatar and Kuwait to buy homes in their country.
The new mortgage product would be available for non-resident Indians (NRIs) and Persons of Indian Origins (PIOs), offering attractive interest rates with a longer tenure, the bank said in a press release on Monday.
Dr R Seetharaman, Doha Bank Group CEO, said,"This is another first for Doha Bank in Qatar and Kuwait. All our NRI customers can now get India home loan through a seamless approval process, while being based in Qatar or Kuwait as a valued Doha Bank customer."
"The home loan is premeditated to help Indian expats undertake the best investment option to ensure a safe and comfortable retirement," he added.
Doha Bank customers can get NRI home loans up to 50 million Indian rupees to build/buy a home or flat in India, with a maximum tenure of 20 years, the statement said.
The loan comes with lucrative interest rates and 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, the statement added.
"We are very excited to announce the launch of NRI Home Loans featuring attractive benefits for Indian citizens living abroad and 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 Frank Hamer, Chief International Banking Officer at Doha Bank.
"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," Hamer added.
Gul Khan, Chief Retail Banking Officer at Doha Bank, said,"Home ownership is among the most important personal goals of a large segment of the Indian community living abroad owing to the sense of security it provides. In addition, it is also one of the best investment options for families as it ensures a safe, comfortable retirement.
"At Doha Bank, we enjoy a long-standing 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."
