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Bank Muscat launches attractive baituna home finance offer with 6-month repayment holiday

MUSCAT, 22 August 2015 – Bank Muscat, the flagship financial services provider in the Sultanate, as part of its commitment to facilitate a home for every family, has launched an attractive baituna home finance offer granting customers an option to buy their dream home and start repayment after six months. The first-of-its-kind, limited period offer from the bank is available for purchasing ready homes and apartments across Oman. The add-on benefits include free Home Contents Insurance worth RO 13,500.

baituna facilitates access to prime residential projects in Oman as all leading property developers are associated with the bank. The attractive features of baituna home finance include low interest rates with maximum loan tenure up to 25 years for Omani customers. The low interest rate facilitates the best home finance deals in the Sultanate. Citizens and residents can avail easy and convenient credit approval across the bank's 140 branches and dedicated baituna centres in the Sultanate.

Said Al Badai, DGM - Branches, said: “Bank Muscat is proud to launch the baituna home finance offer with repayment holiday for six months which paves the way for one of the best finance options in Oman for prospective home buyers. The real estate sector is a major component of the national economy and Bank Muscat is committed to extending all possible support to achieve the objective of a 'home for every family', especially youth. baituna home finance is aimed at offering citizens and residents easy access to mortgage finance, thereby contributing to revitalisation of the real estate sector and enhancing its role in the national economy. The attractive home finance will give a boost to the real estate sector and benefit citizens across Oman to fulfill their dream homes." 

baituna home finance offers convenient mortgage plans to suit everyone's needs with simplified documentation, flexible repayment options, insurance coverage and processing across the bank's extensive network of branches and dedicated centres. Omani and GCC nationals can avail baituna finance for purchase and construction of new homes as well as land for residential use while expatriate customers can avail mortgage finance for properties in integrated tourism complex. The bank also undertakes refinancing of housing finance.

The baituna tie-up with leading property developers include The Wave Muscat, Al Argan, Bader Al Qurum, Bader Al Hamra, The Links, Dar Al Zain, Zain Properties, Yassmin Complex Taameer, Muscat Hills, National Mass, Vintage Modern, Evening Homes, Omani Homes, Palm Residence, Bait Yousif, Arabian Properties, Al Nujoom and Al Firdous.

Offering finance for a gamut of requirements, Bank Muscat fulfills the aspirational needs of people. Notable is the attractive short-term personal finance available at one of the lowest rates starting from 3.5 per cent.