Commercial Bank International leaps in with the longest personal loan tenure of 200-month

10/17/2006

This long-term loan is followed by a competitive interest rate starting from 9.25%.

After their recent announcement of the lowest interest rate car loans - 3.75%, CBI, Commercial Bank International has made a loud entry into the personal loan market by introducing a loan repayment period of 200-months, the longest in the market.

The almost 16-year repayment period is also supported by a very competitive interest rate starting at 9.25% and additional features.

This product is part of CBI’s rapidly growing presence in the retail banking industry that closely follows the unveiling of its new corporate identity. In keeping with its new motto of answering customers’ requests and needs, CBI’s new personal loan is a perfect answer to the market that is filled with various personal loans and offers.

Mr Mahdi Kilani, Head of CBI Retail Banking, said, ‘People want personal loans for a host of reasons – marriage, school fees, holidays etc. Our policy is simply to ensure these finances can be met, conveniently, by customers. This is of course what they asked for.’

Mr Mahdi also mentioned that the loan comes with a 90-day grace period for repayment, an overdraft facility and a free-for-life credit card. The loans are approved on the same-day.

Being able to offer such attractive personal loan products reflects the core values of CBI, which revolve around customer-centric banking solutions.

The bank has plans to introduce real estate, Islamic banking and brokerage products and services to the market and is making a concerted effort to be identified as an organisation that understands what people need and answer them to their satisfaction.