| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Alizz Islamic Bank - Home Loan
|
Minimum Salary: OMR 350 | Salary Transfer: Yes | Early Settlement Fees: Yes | Maximum Term: 25 Years | Flat Rate: - | Reducing Rate: - |
Features
- Open to Omanis & Expatriates
- Easy processing & simple documentation
- Up to 25 years financing options
- Finance up to 80% of property value
- Applicable for ready & fully constructed properties
- Maximum finance amount of OMR 450,000
- Minimum salary transfer of OMR 350 for Government employees and OMR 350 for employees of private companies.
- Available to employed and self-employed individuals.
Documents Required
- No Objection Letter
- Salary Transfer Letter to be addressed to Alizz Islamic Bank
- Salary Certificate (Gross Salary & Date of Joining)
- Outstanding letters addressed to Alizz Islamic Bank
- Pay Slip of 4 Months (If available)
- Stamped bank statement of last 6 months
** 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
