Flexi Loans - Pay Less For a BIGGER LOAN!

This is an unique repayment facility offered for the first time in Oman. Customers availing these loans start with a low instalment that gradually increases every year, in line with the customers' annual increase in income. This product has been widely welcomed by our customers who were looking for a variable payment option.

Customers need to assign their salaries to their accounts with us and they could avail of the host of benefits attached with this product as listed below:

• Consolidate all your loans into one lower instalment plan

• Attractive loan amount depending on your current salary and employer

• Attractive interest rate

• Maintain a constant debt-burden till the loan is repaid, if your
  increase in income is in line with yearly increase in instalment
  Increase your monthly savings

* Instalment deferrals are not available with this product

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.

Click our Flexi Loan Calculator and know your monthly loan instalments for the amount required by you.

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FAQs

How do I apply?
You can apply for a loan at any BankMuscat 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 your qualification, the minimum set of documents required are your ID card, salary certificate (mentioning your salary and date of employment) and your bank statements of the previous 6 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 required, depending on the size of loan or other requirements of the bank.

If you qualify, you need to provide a salary assignment letter from your employer addressed to Bank Muscat.

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What is 'salary assignment'?
Salary assignment is a written declaration from your employer informing the bank that your salary (and End Of Service Benefits (EOSB) in the case of expatriates) will be credited/assigned to your account with us till such time you work for your employer, unless there is a written release from our bank. The letter should clearly mention your salary, (EOSB) and your account number with us.

Who can be a guarantor?
To stand as a guarantor, a person should have assigned his/her salary to Bank Muscat and meet 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.

Do all loans need a guarantor?
A guarantor may not be required for all loans. At the time of processing the loan, the bank will inform you if a guarantor needs to be provided. If so, when you provide the guarantor's name and his/her Bank Muscat 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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