| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Alizz Islamic Bank - Car Loan
|
Minimum Salary: OMR 350 | Salary Transfer: | Early Settlement Fees: - | Maximum Term: 7 Years | Flat Rate: - | Reducing Rate: - |
Features:
- Open to Omanis & Expatriates.
- Easy processing and simple documentation.
- Up to 80% finance
- Competitive profit rates
- Easy finance period for up to 7 years for new cars, and maximum 5 years for used cars
- Available to employed and self-employed individuals
- Minimum salary transfer of OMR 350 for Government employees and OMR 350 for employees of private companies.
- Available for salary transfer and non-salary transfer customers
Documents Required
With Salary Transfer
- No Objection Letter
- Salary Transfer Letter to be address to Alizz Islamic Bank
- Salary Certificate (Gross Salary & Date of Joining)
- Salary Slip of 4 months (If available)
- Stamped bank statement of 6 months
- Processing Fee
Without Salary Transfer
- Salary Certificate (Gross Salary & Date of Joining)
- Salary Slip of 4 months (If available)
- Stamped bank statement of last 6 months
- Post Dated Cheques (Based on the agreed finance period)
- Finance fee OMR 25
- Quotation from the dealer addressed to Alizz Islamic Bank
- A copy of drivers ID Card & License
** 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.
Representative Example Calculator
