Educational Loans

An Educational loan is a sum of money lent to a joint account, to be opened by an individual and his ward for the sole purpose of payment of fees for undergraduate studies, in a University recognized by the Ministry of Higher Education only, whether within or outside the Sultanate of Oman. Maximum of RO 16,000 with no deferrals of installments.

Dial Call Centre (+968) 2479 5555 (7.00 am - 11.00 pm) for further details. To open an account from home or office, please dial call center number 2479 5555. Our experienced Direct Sales staff will visit you to do the needful.


How do I apply?

You can apply for a loan at any Bank Muscat branch near you or request for a Direct Sales Agent to visit you by just dialing our Call Centre toll (+968) 2479 5555 .

What documents do I need to furnish to apply for a loan?

To evaluate the qualification, the minimum set of documents required are your ID card copy, your salary certificate (mentioning your salary and your date of employment) and the customers salary should be transfered to bank muscat.

What is 'salary assignment'?

Salary assignment is a written declaration from the employer informing the bank that your salary will be credited/assigned to your account at Bank Muscat, till such time you work for your employer, unless there is a written release from the bank. The letter should clearly mention your salary and your account number with us.

Who can be a guarantor? Do all loans need a guarantor?

A guarantor can be a person who has assigned his/her salary to Bank Muscat and who meets the credit qualification criteria of the bank. If he/she has been approved to qualify, a signature on the loan application form will confirm that he/she stands as guarantor for the particular loan. However, a guarantor may not be required for all loans. At the time of processing the loan, the bank will inform you if you need to provide a guarantor. When you provide the guarantor's name and account number, the bank will evaluate and inform you whether the person qualifies as a guarantor.

What is the qualification criterion?

The basic parameters considered for qualification are the age, salary, length of service, employer and repayment capability of the person proposed as a guarantor. However, the bank may use additional criteria depending on the loan amount, type of loan, etc.

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