| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Oman Arab Bank - Markabati Auto Loan
|
Minimum Salary: OMR 325 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 10 Years | Flat Rate: 4.49% | Reducing Rate: 8.08% |
With OAB Markabati buying the car of your dreams could not be easier and more convenient! With Oman Arab Bank’s Markabati Auto Loan you will be in the driver’s seat faster than you can imagine.
Features & Benefits:
- Financing available for new and used pre-owned vehicles
- Loan tenure up to 10 years
- Down payment as low as 20%
- Market beating interest rate.
- Quick and hassle free loan processing
- Tie ups with all leading automobile dealers to ensure best offers
- Omani nationals and expatriates aged 18 and above
- Minimum monthly salary OMR 325 for Omani nationals and OMR 500 for expatriates.
- Must hold a valid Omani ID or resident card
- Copy of passport or visa – for expatriates.
- Price quotation from a car dealer
- Transfer of salary to any Oman Arab Bank branch
- Salary certificate from employer
- End of service benefit – for expatriates.
** 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
