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Minimum Salary Salary Transfer Early Settlement Fees Maximum Term Flat Rate Reducing Rate
Bank Nizwa - Car Loan Bank Nizwa - Car Loan Minimum Salary: OMR 400 Salary Transfer: Early Settlement Fees: - Maximum Term: 7 Years Flat Rate: - Reducing Rate: -
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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


** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the 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
Bank Dhofar - Car Loan
Minimum Salary
OMR 320
Flat Rate
4.49%
Bank Sohar - Al Mumayaz Auto Loan
Minimum Salary
OMR 750
Flat Rate
4.49%