Doha, Qatar – 26 April 2021: Qatar Islamic Bank (QIB) has announced the launch of its Auto Finance promotion during the holy month of Ramadan, to meet the growing needs of its customers. The new promotion is part of the bank’s commitment to reward new and existing loyal customers who apply for car finance, by offering them a number of benefits.

Along with quick approvals and low reducing profit rates at 3.50% p.a. (1.83% flat), the Auto Finance offer will provide new and existing QIB customers attractive rates on their Auto Takaful policy, with a 1.90 % exclusive rate, as well as a 6 months’ grace period from the finance tenure, for both Qatari nationals and expats. QIB has partnered with a variety of automotive dealers and brands to offer special financing deals on new vehicles during Ramadan. Customers will be able to purchase both popular and luxury vehicles from a variety of world-recognized manufacturers under competitive and equitable financing arrangements.

Furthermore, customers applying for Auto Finance are eligible for a free Credit Card at 0% Profit rate on their card outstanding, which can contribute towards normal monthly spends for groceries, restaurants, travel, education fees, where no profit will be charged.  

Customers will also benefit from a free subscription to the QIB My Book Qatar for a period of one year, including instant access to over 2,000 “buy one get one free” vouchers to use across restaurants, cafés, fast food chains, hotels, theme parks, salons and spas, gyms, and fitness centers in Qatar.

The promotion will run until 30th June 2021 and is available for new and used cars from authorized dealers, both for existing and new to QIB Customers, and for both Qatari citizens and residents. 

Commenting on the Car Finance promotion, Mr. D. Anand, QIB’s General Manager - Personal Banking Group, said: “QIB is proud of its reputation as the leading Auto financer in Qatar. This exclusive offer is another testament to QIB’s commitment to providing customers with the most convenient and responsive banking, whilst rewarding our customers with exclusive benefits.” 

“Our Car Finance promotions are always customized and appropriately timed to meet our customer’s needs. As we approach a busy season, with a lot of financial commitments, we understand the importance of helping more people to realize their need for purchasing a car during Ramadan, and beyond.” Anand added.