is CBQ reliable bank for car loan....
hi,
i have my car loan in commercial bank qatar which is going to matured in february but i am getting text msg i have to pay more. that means matured in augest. 6 instalments more.. can bank extend with out our permission????? i didnt miss any instalments or never postpond... we sign for 60 months instalments..... plz advice.....
Hello this Commercial Bank :),
Our vehicle loan rates are some of the most competitive in Qatar at 2.19%, with our partners Nissan and Mitsubishi offering 0% deals over 3 years.
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The best option is go to the bank, take out a full statement from starting till now and talk to the manager. Even if it variable also, the bank should inform u longtime back when they increased ur tenure and rate.
If rate is variable, obviously the tenure will increase so as to retain the monthly installments at the same amount (EMI) to clarify i suggest u pls visit the bank and ask for details or full statement to verify.
yes its variable.. but my point is can they extend the duration of loan means 60 to 66 instalments.... the loan instalments was variable some months... but its subject to change...
possibilities are that (a) you might have defferred a few payments (b) your loan is at variable rate which the bank is recovering.... go to the bank and speak to them, they shall provide full details.