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What can Al Wathbah do for me?
Al Wathbah can finance your
tendering and working capital needs
for construction projects.
What is the type and extent of
finance?
Financing will be provided in the
form of letters of guarantees and
working capital. This would include
bid bonds, performance bonds,
overdraft and term loans. Maximum
amount per tender guarantee
transaction – RO 10,000/-. Maximum
overdraft – RO 10,000/-. Maximum
credit for a borrower – RO 100K.
What is the repayment tenure for a
loan?
You can repay the loan in 12 monthly
installments.
What interest rates will be charged
on an Al Wathbah facility?
An interest rate of 9% p.a. will be
charged monthly on the actual
outstanding and will be payable
every month. A penal interest rate
of 12% p.a. will be applied on any
delayed payment, on the amount
delayed. Please note that the
interest rate is reviewable annually
at the Bank’s discretion. In
addition, a 1.5% p.a. will be
charged on non funded guarantees and
2.4% p.a. on funded guarantees.
Are there any other charges?
You will have to pay a flat
processing fee of 1% on the amount
of facility, payable before
disbursement.
For contact details,
click here
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