| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Bank Dhofar - House Loan
|
Minimum Salary: OMR 320 | Salary Transfer: No | Early Settlement Fees: No | Maximum Term: 25 Years | Flat Rate: 4.5 | Reducing Rate: 0.0 |
This is a product designed to catapult you into a faster and safer realization of your personal dream to own your own home.
Features
- Minimum loan amount OMR 10,000
- Maximum loan OMR 500,000 (audited net worth statement required for loan amount exceeding OMR 250,000)
- Up to 80% of the property value can be financed
- DBR up to 60%
- Home Loan available to joint account holders
- Lower life insurance and property premium
- Access to online services enabling you to check your outstanding loan and instalments.
Representative Example
If you borrow OMR 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:
Payment per month – OMR 297.50 | Total charge for credit – OMR 710 | Total amount you repay – OMR 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
