| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Bank Nizwa - Car Loan
|
Minimum Salary: OMR 400 | Salary Transfer: | Early Settlement Fees: - | Maximum Term: 7 Years | Flat Rate: - | Reducing Rate: - |
Eligibility
- Minimum age: 18 years
- Minimum salary:
- With Salary Transfer: Rial 400
- Without Salary Transfer: Rial 600
Features
- Shari’a-compliant auto finance product
- Highly competitive profit rates
- Low down-payment
- Financing up to Rial 75,000
- Payment period up to 7 years
- Salary transfer not mandatory
- No hidden charges
- Available to salaried and self-employed
- Finance available for new and used cars
- Available for a wide range of brands
- Available for any nationality
Required Documents:
- 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 vehicle you wish to purchase
** 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.
