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Banks raise salary limits for car loans
- Middle East: Thursday, January 15 - 2009 at 09:42
Banks in Qatar and the UAE have raised the minimum salary limit for customers seeking car loans. HSBC has introduced new rules in both countries that stipulate that all applicants must have a minimum gross salary of 20,000 dirhams ($5,500) or QR20,000 ($5,500) per month to obtain a car loan. This is double the 10,000 dirham and riyal ($2,500) requirement in November last year. The Doha Bank asks for a basic salary of QR7, 500 ($2,000) a month and for the applicant to have been employed by their company for two continuous years.
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Jeff Florian, Senior ReporterThursday, January 15 - 2009 at 09:42 UAE local time (GMT+4)
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