| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Bank Nizwa - Personal Loan
|
Minimum Salary: OMR 300 | Salary Transfer: Yes | Islamic Finance: Yes | Maximum Term: 10 Years | Flat Rate: - | Reducing Rate: - |
Features
- Shari’a-compliant personal finance product
- Highly competitive profit rates
- Payment period up to 120 months
- Financing up to Rial 100,000
- Long tenures for expats
- Transparent and fast processing
- No hidden charges
- Available to salaried individuals
Documents Required
- Passport with a valid visa (for expatriates)
- Oman National ID / Resident ID Card / GCC
- Passport copy Quotation in favour of Bank Nizwa from the dealer of the good(s) you wish to purchase
- Bank Statements of previous 6 months
- Salary Certificate from employer addressed to Bank Nizwa Salary Transfer Letter from employer
Eligibility
- Minimum Age : 18 Years
- Minimum Salary: Rial 300
** 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.
