Oman Arab Bank SAOC Personal Loan
|Minimum Salary needed||RO 300/-|
|Maximum amount available||Not mentioned|
|Length of Loan||10 - 12 Years|
|Profit Rate||7% p.a.|
|Upfront Fees ( if any )||Not mentioned|
|Eligibility||ages of 18 – 60; employed in either the Government sector or the Private sector (the private sector company should be listed in the approved list of companies with Oman Arab Bank)|
|Main Features||Life insurance is mandatory and will be arranged by the bank; Customers who have a repayment period below 10 years can have their installments waived during Eids (i.e. twice a year); You only have to pay six installments of your existing loan, before topping up your loan|
Oman Arab Bank
The Oman Arab Bank is one of the leading and highly accomplished local banks in Oman. In 1984, it took over the branches of the Arab Bank and this move marked the birth of another local banking top gun.
As far as returns are concerned, the bank is ranked among the highest performers in the banking industry. For example, in the last 25 years it has recorded an annual average of 20% return on equity.
To fulfill its vision, the bank is dedicated to deliver a wide scope of banking products and solutions in individual and institutional banking. Besides, it offers financing solutions for large projects and investment banking.
Muscat is one of the few cities listed among the most iconic cities in the Arab world that have had a place in shaping the commercial and political landscape and the Middle East and its surroundings. It is the biggest city in the Omani sultanate and also serves as its main commercial and political power base. In the past few years, Muscat has been undergoing a transformational expansion marked by economic boom and a surging population that has risen to over 1.2 million dwellers as at 2014.
The city’s ancient history is a mixture of conspicuous exploits in international trade and politics. Its recent trends in modernization and industrialization are key propelling factors towards its preference as an investor destination.
Our personal loans are tailor-made solutions designed not just to show our approval for the validity of your dreams but also to act as strategic bridge to safely land you into their fulfillment.
Main Features and Benefits:
- Flexible repayments;
- Easy and faster processing;
- Tailored to suite your income level; and
- Broad-spectrum: it covers various personal dreams such as holidays with your family or education.
Requirements and eligibility:
- A legal age of 18 years and above;
- Employees of the Omani government or those of institutions approved by the bank;
- Employees should have a tenure at their current work place that is at least one year and above;
- All employees-both Omanis and foreigners;
- Salary transfer letter addressed to the bank; and
- National ID card for locals and a valid resident visa for alien applicants.