Loans and Overdrafts Against Deposits
Loan/Overdraft against deposit facility offers customers the convenience to borrow funds against their deposits. As a customer, you can avail a loan/overdraft against your deposits anytime within the maturity of the deposit. You can also enjoy interest earned on your deposits while having access to funds at all times.
You can apply for a Loan or an Overdraft with as low as QAR 25,000 and up to 90% of the deposit amount. This is available against your Fixed Deposit, Upfront Deposit, Smart Saver & Al Dana Savings account. Earn interest from your deposit while having access to funds at all times.
Both Nationals and Expats can utilize this facility. To be eligible, applicants must be valid residents of Qatar, holding a deposit facility with Doha Bank and of ages 18 years and above.
You may apply for loan/overdraft facility, by bringing your original valid QID and passport at any Doha Bank Branch.
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.