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Loans for Omani
nationals working in the Government / Quasi
Government Sector and Approved Private Sector
Companies
We,
at Bank Muscat, are continuously trying our best
to serve our customers according to their
expectations. We have dedicated and experienced
staff to guide our customers on the packages
offered by us, and take them through the
processes required.
To avail any of our loan offers, customers need
to transfer their salary to a Bank Muscat branch
of their choice, and if certain pre-requisites
are met, enjoy easy finance and a host of
benefits such as:
• Relaxed
Guarantor requirement
• Attractive interest rate
• Increased tenor
• Deferrals during Eid festivals
• Free Call Center and Kiosk Banking facility
• Free BankMuscat Online banking facility.
Dial our
Call Center (+968) 2479 5555 (7.00 am - 11.00
pm) or visit your nearest branch for more
details.
To obtain a loan from home or office, please
dial
(+968) 2479 5555 .Our Direct Sales staff will
visit you and do the needful.
Click our
Regular Loan Calculator and
know your monthly loan instalments for the
amount required by you.
Top
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 dialing our Call
Center(+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-BankMuscat account
holders or account holders whose salary does not
get credited to their BankMuscat account).
In addition, there could be additional documents
depending on the size of the loan required or
other requirements of the bank.
If you qualify, you need to provide a salary
assignment letter from your employer addressed
to BankMuscat.
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. This letter should clearly mention
your salary and your account number with us.
What are installment deferrals? How do I get
them?
The bank announces an installment deferral for
certain loans on special occasions such as Eid,
to enable our customers to have a cash flow to
meet their personal expenses that month. This is
announced in the public media. Customers who do
not want to avail this deferral have the option
of approaching the bank within a stipulated date
to opt out of the deferral given.
While installment deferrals are common, they
are, however, entirely at the discretion of the
bank and not a commitment for future deferrals
on similar occasions.
Who can be a guarantor? Do all loans need a
guarantor?
A guarantor can be a person who has assigned
his/her salary to BankMuscat 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 a guarantor needs to be
provided. 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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