Are you planning for a wedding, your child’s college education, or a house renovation? Perhaps you need extra funds to buy a new car or an important piece of equipment for your business? At times like these, getting a loan from a bank would definitely be a huge help!
If you are wondering how much you could loan from banks in Qatar, don’t worry because you can always use their loan calculator. For this article, we have compiled a list of banks, each of which has an online finance calculator that you can use to estimate your loan.
Guide to Using Qatar Loan Calculator
As the term implies, a bank’s loan calculator is a tool that can help you estimate how much you can borrow — be it a personal loan, car loan, mortgage loan, or other financial products.
At the same time, a loan calculator can also help estimate how much you would need to pay as monthly installments. Of course, take note that these amounts serve as an “initial indicators” only. You would still need to submit the necessary forms and supporting documents before the bank can approve your loan.
Why Use a Loan Calculator?
It’s always a good idea to use a loan calculator. For one thing, it can give an idea of how much you would be able to borrow from the bank. Similarly, it can help estimate your monthly installments, depending on how much you need to borrow and for how long. Most calculators also allow you to adjust the loan amount and repayment term several times, so that you could have several loan estimates instead of just one.
Finally, using the loan calculator of various banks can help you compare different loan terms and conditions. As a result, you can decide from which bank you’d like to borrow from and submit a loan application.
Qatar Banks with Loan Calculators
There are several banks in Qatar that feature loan calculators on their websites. Here is an overview of those banks, including a brief description of their loan calculators, a.k.a. “finance calculators.”
1. Ahli Bank
Founded in 1983, Ahli Bank provides a wide range of financial products and services: private banking, corporate banking, retail banking, international banking, treasury and investments, and brokerage services — to name a few. The bank also offers personal loans, auto loans, and mortgage loans, which you can estimate using an online loan calculator.
To estimate a personal loan or auto loan, just enter your nationality, as well as your preferred interest rate (up to 7%), loan amount (from QAR 1,000 to QAR 2,000,000), and repayment period (from 12 months to 72 months). After giving these details, the screen will display your possible loan amount and monthly installment.
The process is the same when estimating a mortgage loan. The only difference is that for this type of loan, the loan amount is higher, ranging from QAR 1,000 to QAR 15,000,000. Likewise, the repayment period is longer, ranging from 12 months up to 360 months.
Check out this link if you want to estimate a personal loan, auto loan, or mortgage loan from Ahli Bank.
2. Commercial Bank of Qatar
Established in 1975, the Commercial Bank of Qatar is known as the country’s first private bank. Interestingly, it was the first bank to introduce ATMs in Qatar, way back, in 1990.
Today, the bank continues to play an important role in the country’s economic development — by providing an extensive range of personal, corporate, government, international, and investment services. Among its products are personal loans and vehicle loans, both of which you can estimate through the bank’s online loan calculator.
To help estimate a personal loan, you’ll need to indicate your nationality (Qatari or Expat), before entering the amount you wish to borrow, along with your monthly salary and preferred repayment period (in months). After clicking “Calculate,” the screen will display an estimate of your personal loan.
Meanwhile, to estimate a vehicle loan, you’ll need to provide your nationality, along with the price of the vehicle and your preferred down payment (in percentage) and repayment period (in months). Then, click “Calculate” to find out the estimate of your vehicle loan.
To use the the Commercial Bank of Qatar’s loan calculator, check out this link.
3. Doha Bank
Established in 1979, Doha Bank offers domestic and international financial services for individuals, corporate clients, commercial clients, and institutional clients. These days, it operates branches in the United Arab Emirates, Kuwait, and India, while also running representative offices in Turkey, United Kingdom, Germany, South Africa, China, Nepal, Bangladesh, Japan, South Korea, Singapore, and Australia.
For clients in Qatar, the bank provides multiple services, including personal loans. To estimate such loans, you can use its online calculator by answering several questions, as follows:
- Are you a Qatari or an Expatriate? (select your answer)
- Tell us your monthly salary in QAR (enter amount)
- Is your salary sent to Doha Bank? (Yes or No)
- What is your monthly rent in QAR? (enter amount)
After answering the above questions, click “Calculate My Loan Payments and Eligibility” to estimate your personal loan.
Head to this link to try out the Doha Bank online loan calculator.
4. Dukhan Bank
Dukhan Bank was the result of a merger between Barwa Bank and International Bank of Qatar in 2019. Today, it is among the biggest Shari’ah-compliant financial institutions in Qatar, offering an extensive range of services to more than 130,000 clients.
To help customers estimate loans, the bank has a finance calculator featured on its website. All you have to do is select or enter the customer type (Retail Customer or Prestige Customer), finance type (Personal Finance, Auto Finance, or Home Finance), preferred loan amount (in QAR), and repayment period (from 1 to 6 years).
You also have to answer a “captcha” question, which is intended to test whether or not you’re a human visitor and to prevent spam submissions. After clicking “Calculate,” the screen will show your estimated monthly payment.
Go ahead and try out the Dukhan Bank’s online finance calculator when you go to this link.
5. Qatar International Islamic Bank
Established in 1991, Qatar International Islamic Bank is a privately owned Islamic bank in the country. It is regulated by the Qatar Central Bank and provides personal and corporate Islamic banking services.
The bank offers personal loans, among many other financial products and services. When using its “finance calculator,” be sure to enter your preferred finance amount, advanced payment, number of months, and Annual Percentage Rate (APR). Upon clicking “Calculate,” the screen will show your personal loan estimate.
Visit this link to try out the online finance calculator of Qatar International Islamic Bank.
6. Qatar Islamic Bank
Qatar Islamic Bank was established in 1982 as the first Islamic financial institution in the country. With 23 branches and more than 170 ATMs, it happens to be the biggest private bank in Qatar, while also being the second largest among all banks in the Sultanate.
With regard to financing, the bank offers personal finance, car finance, home finance, and instant finance, among other services. To estimate personal and car financing, you can use the loan calculator on its website. Simply enter your nationality (Qatari national or Expatriate), finance amount, and years to pay back.
After clicking “Calculate,” the screen will display your estimated monthly payment, total amount paid, and total profit paid. Notably, you can press “Clear” to enter different finance amounts and repayment periods — to come up with different estimates.
To estimate a personal loan or a car loan, visit the online finance calculator of Qatar Islamic Bank online.
7. QNB Group
On June 6, 1964, QNB Group was founded as the first domestically-owned commercial bank in the country. Headquartered in Doha, Qatar, this multinational commercial bank has associates and subsidiaries in 31 countries around the world!
The QNB Group’s international work includes operations in: Africa (Egypt, South Sudan, Sudan, Togo, Tunisia); Asia (China, Hong Kong, India, Indonesia, Singapore, Vietnam); Europe (France, Switzerland, Turkey, United Kingdom); Middle East (Iran, Iraq, Jordan, Lebanon, Syria, Yemen); and GCC (Qatar, Kuwait, Oman, Saudi Arabia, United Arab Emirates). This list includes the bank’s representative offices, plus associates, affiliates, and subsidiaries.
To use the QNB Group’s loan calculator, you’ll need to enter the following details: loan amount, number of installments (in months and years), grace period (in months), interest rate (up to 7%), and loan date. Then, press “Calculate” to know your loan estimates.
Visit the online loan calculator of QNB Group to estimate your loan. Aside from this calculator, the bank’s official website also includes other financial tools, namely: Saving Plus Calculator, Fixed Deposit Calculator, Exchange Rates Against Qatari Riyal, Exchange Rates Against United States Dollars, QNB Rate, and Currency Converter.
As you can see, there are many options to choose from if you want to use online loan calculators in Qatar. That being said, keep in mind that these financial tools are designed for informative purposes only. You would still need to submit the completed forms and documents to the lending bank, which will verify and assess your application before approving and granting your loan.
Meanwhile, if you are planning to buy gold anytime soon, did you you know that you can purchase it online? Check out this list of the best websites to buy gold from Qatar online. Happy shopping!