A new retail home loan offer has been announced by Doha Bank. It features a 3.99 per cent interest rate for the first year and includes a 12-month payment holiday to customers with an option to get up to QR20,000 to offset the early settlement fees when transferring a home loan from another bank to Doha Bank.

The service also provides free fire insurance for the first year, free management and mortgage fees, free mortgage saver account, paying 1.25 per cent per annum interest rate up to QR2mn, and free for life VISA Infinite or Platinum credit card.

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Moreover, the bank will provide loans of up to 70 per cent of property value for Qataris and expats, with mortgage repayment periods of up to 20 years, as reported by Gulf Times.

Dr R Seetharaman, CEO of Doha Bank Group, noted that the customers’ needs are of utmost importance to the bank and it believes in launching products best suited and geared towards their expectations.

He added that there has been overall stabilisation of the real estate market this year, particularly in retail mortgage properties, and much of this can be attributed to current and future spending on infrastructure works, and reinvigorated real estate development in Qatar.