The wait is over for your new vehicle. With Al Mumayaz Auto Loan.
At Bank Sohar, we have fast-tracked your way to your dream vehicle with auto loan approvals in just an hour. Al Mumayaz Auto Loan facilitates the purchase process with minimal paperwork and flexible repayment options to put you in the driver’s seat, faster than you thought.
- Loans at competitive interest rates
- Fastest Loan Approval – 1 Hour
- Auto financing solution for new / used vehicles
- No Medical required for insurance of loan amounts up to RO 75,000
- Loans granted against either salary assignment or postdated cheques
- Option for 2 month grace period for start of repayment
- Auto loan eligible for Omanis and expatriates
- Maximum loan amount - 80% of the Total Vehicle Cost/ Market Value subject to DSR limits
- ID Proof: National ID for Omanis; Resident ID and passport copy with valid visa for Non-Omanis
- Latest salary certificate or 3 months’ bank statement indicating salary details
- Quotation of the car in favour of Bank Sohar
- Driving License copy
- Copy of Registration (Mulkiya) of used car