Overdraft Facility

If you are an Omani national, working in the Government Sector or in an approved Private Sector Company, and need financial advance for a short-term, subject to certain pre-requisites, Bank Muscat can give you a 1-year overdraft facility.

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 (+968) 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 dialling our Call Centre(+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, your salary certificate (mentioning your salary and your date of employment) and your bank statements of the previous six months (for non-Bank Muscat account holders or account holders whose salary does not get credited to their Bank Muscat account).

In addition, there could be additional documents depending upon other requirements of the bank.

If you qualify, you need to provide a salary assignment letter from your employer addressed 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 application form will confirm that he/she stands as guarantor for the particular OD.

However, a guarantor may not be required for all loans. At the time of processing the request, 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.

Are there any ‘conditions’ to these facilities?

Yes. If you have already taken a Temporary Overdraft (TOD) facility from your branch, you will not be eligible for the overdraft facility as per this offer, unless your existing temporary overdraft (TOD) is repaid, or you have not taken your full entitlement of TOD from your branch, as per the bank’s criteria.

Convenient, Fast and Secure
© bank muscat