| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Bank Muscat - Baituna home loan
|
Minimum Salary: OMR 250 | Salary Transfer: | Early Settlement Fees: | Maximum Term: 25 Years | Flat Rate: 5.5 | Reducing Rate: 0.0 |
Eligibility:
- Omanis/expatriates employed in the government sector or listed private company, and meet the specified requirements.
- minimum monthly salary of RO 250 for Omani nationals and RO 500 for expatriate
Required Guarantees?
- customer salary
- the mortgaged property
Features
- available to all our customers – Omani nationals and expatriates
- expatriates can utilize it to purchase properties within integrated tourism complexes
- customers can apply for a loan at any of our branches and baituna sales centres across the country
- low interest rates of 5.5% with maximum loan tenor of up to 25 years
- maximum loan amount of OMR 500,000
Documents Required
- ID / resident card
- passport with valid visa for expatriates
- salary assignment letter
- 2 photographs
- Crooke and Mulkiya copy
- valuation of property
- buyer and seller agreement
- seller ID
- construction legalization (Ebahaa) and maps
- advisory letter and contractor agreement
** 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.
