Doha Bank Signs Agreement with Birla Sunlife for Financial Products

Doha Bank today signed an agreement with Birla Sunlife Insurance Company of India to offer various personal financial products to non-resident Indians living in Qatar. Birla Sunlife Insurance is a joint venture company between Aditya Birla group of India and Sunlife Insurance of Canada. Under the agreement, Doha Bank shall provide necessary information about the various long term investments cum protection products being offered by Birla Sunlife to the non-resident Indians residing in Qatar and facilitate movement of documents and funds if they wish to purchase such financial products. There shall be three products initially on offer namely Child Education Plan, Retirement or Pension Plan and Growth Plan. Child Education Plan is a savings cum investment product under which parents shall be able to invest small sums of money on a monthly or yearly basis for their children’s future and get the same back with assured returns after the pre-determined period. Normally, the plan matures when the child attains the age of 18 and the entire return thus can be used for his/her studies in the best universities anywhere in the world. The parents have the flexibility to decide the length of the plan and the amount which they want at maturity and accordingly monthly or yearly installment can be fixed. Mr. R. Seetharaman, Deputy Chief Executive of Doha bank said that with the spiraling cost of quality education at higher levels, it is the commitment of Doha Bank to provide financial products and services to our customers who will help them in their personal financial planning to secure the future of themselves and their families. “We partnered with Birla Sunlife because it is one of the most reputed insurance company in India and has some really good financial planning products for individuals. This is also in line with Doha Bank’s commitment to offer the best financial products and services available in the market to its customers”, Mr. Seetharaman further said. Mr. Manoj Kumar, Head of Bancassurance said that the Retirement or Pension Plan is for the people who wish to plan their own future and retire from active work after certain number of years. Here, they can invest on yearly or monthly basis or can put in a lump sum amount to take care of their future. Upon maturity, the money can be fully encashed or can be converted into annuities. Similarly, Growth or Savings Plan is for the people who are looking for higher but secured returns on a short to medium term basis. “All the schemes have an additional layer of protection as the nominee gets the pre-determined sum of money in addition to the invested amounts in the unfortunate event of the death or disability of the investor”, Kumar further said. Mr. Nani Javeri, CEO of Birla Sunlife who signed the agreement with Mr. Seetharaman said that Indians can subscribe to any of the schemes directly from Qatar through Doha Bank and can still get serviced in India if they return home before the maturity of the policy. The policies can be serviced from any of the branches of Birla Sunlife spread across India. He further said that the maturity amount is fully repatriable and can be received here, if they continue to live in Qatar. Customers just have to call our Bancassurance Division directly on 4357313 or 4352161 and set up an appointment with one of our financial advisors. Our financial advisors shall visit them at their office or residence as per the customer’s convenience and shall help them in analyzing their financial requirements and helping them decide on the maturity amount and installments. Ms Simple Vaswani, Product Manager and Varij Pujara from Birla Sunlife were also present on the occasion.