During the Holy Month of Ramadhan
Muscat:
Bank Muscat’s “Sayyarati” Auto Finance solution constitutes one of the financing products that appeal to customers. On the occasion of the Holy Month of Ramadhan, Bank Muscat, the leading financial services provider in the Sultanate, commits to providing customers with the best financing offerings to keep pace with the high demand of both new and pre-owned cars and allow these customers to avail the offerings and features provided by various car dealerships across the country.
As part of its commitment to providing top-tier banking services, Bank Muscat has launched a special two-month promotion on the “Sayyarati” auto financing product. The offer is valid from 25th February to 25th April, 2025 and includes several benefits, such as a reduced interest rate of 0.25% on both new and pre-owned cars for Omani nationals employed in the Ministry of Education and the Ministry of Health. The offer also comes with a similar rate on electronic and environmentally friendly vehicles for Omani nationals and expatriates working in a government, quasi-government, and approved first-tier company. It is worth noting that the interest rate currently offered to all customers stands at 5.5%, while the current rate offered to the customers employed at the Ministry of Education and Ministry of Health as well as those targeted for the electronic and environmentally friendly vehicles odder stands at 5.25%.
The “Sayyarati” financing offer includes attractive features, such as benefiting from an extended repayment period ranging from 8 to 10 years, depending on the eligibility criteria. Additionally, the “Sayyarati” financing facility offer free third-party insurance for pre-owned car financing with car value of 3K and above. All customers may apply for a loan of up to OMR 60K for both new and pre-owned vehicles, provided that eligibility criteria are met.
In addition, the offer is provided to customers whose fixed salaries are credited to another bank as well as customer working in a government, quasi-government, and approved first-tier company. Customers are offered an interest rate of 6% on the new vehicles and they may contribute 30% of the car value. The repayment period set for them is up to 2 years.
Customers may apply for “Sayyarati” financing by visiting the nearest Bank Muscat branch or Sayyarti Centers in Wattayah and Salalah or by sending “CAR” to 90090. Customers are also required to submit the relevant documents to process the loan facility, including ID card for Omanis, passport for expatriates, salary assignment letter, quotation/ car valuation from the approved valuator, driving license, Mulkiya (for pre-owned cars only) and seller’s ID card (for pre-owned cars only). The monthly loan installments are automatically deducted from the customer’s account once the mandate to do so is provided to the Bank. It is noteworthy that loans are disbursed within 24 hours subject to applicants meeting the concerned requirements.
On this special occasion, Abdullah Tamman Al Mashani, General Manager, Products, Bank Muscat, said: “Bank Muscat’s Sayyarati is the most popular financing option in Oman and it has received great and positive feedback from customers. The Bank takes pride in the strong partnership with the different car dealers available all over the Sultanate to offer customers the best banking facilities and services, thus, enabling them to purchase their dream vehicles. Bank Muscat is dedicated to keeping pace with the latest advancements witnessed by the banking sector, aiming to satisfy the various needs and aspirations of customers in line with the Bank’s customer-centric vision “To serve you better, everyday.”
Due to customers’ positive feedback on the various financing offerings Bank Muscat provides them with, the Sayyarati financing product comes with attractive and special offers during the Holy month of Ramadhan. Abdullah Al Mashani extended his thanks to all customers for their continuous trust in the banking services and products.
As the leading financial services provider in the Sultanate for the last four decades, Bank Muscat has the largest banking network in Oman with 153 retail banking branches and over 900 ATMs, CDMs and multi-use machines distributed across the Sultanate. Customers can also visit the nearest branch, Sayyarti Centres in Wattayah and Salalah, or request Saed direct sales agents for more information and to apply for a loan. For more details regarding Sayyarati loans, please go to https://www.bankmuscat.com/en/loans/Pages/details.aspx#sayyarti.
