Bank Muscat offers special interest rates to first-time borrowers

Muscat: In line with its customer-centric vision of offering the best services and facilities to benefit its customers, Bank Muscat, the leading financial services provider in the Sultanate, has announced the availability of financing options with special reduced rates for first-time borrowers.

The special rates are meant for customers with salaries OMR1,000 and over who have either recently opened an account with Bank Muscat or those Bank Muscat customers who have accounts but have not availed of any loan facilities before. Customers should be employed in government, quasi-government or approved private sector (Tier 1) organisations to be eligible.

Bank Muscat launched the special offer after extensively analysing customer feedback and loan booking data, which is once again a demonstration of its commitment to customer-centricity. Available to employees of government and quasi-government institutions as well as select private-sector (Tier 1) companies, the special offer includes highly-competitive interest rates of 4.25 per cent for Baituna Home Loans and 4.5 per cent for Personal Finance for loan tenors over 48 months.

The bank added that customers can visit its Baituna sales centres in Qurm, Mabelah, Barka, Sohar, Saham, Sur, Ibra, Nizwa, Ibri, Buraimi and Salalah or any Bank Muscat branch across Oman for more information as well as to apply for Baituna. Baituna, which is well known for its prompt processing, documentation and prompt disbursal, can be used to construct or purchase new homes as well as to buy land for residential construction. The bank offers Baituna Home Loans for up to OMR500,000 and up to 25 years to eligible customers.

At the same time, customers who require personal finance can visit their nearest Bank Muscat branch with the required documents including a salary transfer letter from their employer and their ID cards, which will ensure speedy processing of their applications. Financing up to OMR200,000 is available to customers based on the fulfilment of the eligibility criteria. As the leading financial services provider in the Sultanate for the last four decades, Bank Muscat has the largest banking network in Oman with 146 retail banking branches and over 800 ATMs, CDMs and FFMs.