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Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Personal Loan - HSBCAdvance Personal Loan - HSBCAdvance Minimum Salary: OMR 700 Salary Transfer: Yes Islamic Finance: Yes Maximum Term: 0 Years Flat Rate: 4.6% Reducing Rate: 8.28%
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Our Advance Account provides you with all the basic services you need from a current account, along a number of advanced features and special benefits.

 

Documents Required:

Sole Account:

You need to complete the account opening process by personally visiting any of our branches or Customer Service Centres, with the following documents:
  • Identity card (for Omanis).
  • Valid passport with valid visa (for expatriates) + valid resident card.
  • Salary certificate (for customers working in government/public sector companies).
  • Original trade licence (for all self-employed customers).
  • Salary transfer letter (for customers working in private sector companies). Only one applicant is required to provide the salary certificate/transfer letter but it is mandatory that all the joint applicants are Omani residents.
Joint Account:

Both you and your joint applicant(s) need to complete the current account opening process by visiting any of our branches or Customer Service Centres in person, with the following documents:
  • Identity card (for Omanis)
  • Valid passport with valid visa (for expatriates) + valid resident card
  • Original trade licence (for all self-employed customers)
  • Salary certificate (for customers working in government/public sector companies)
  • Salary transfer letter (for customers working in private sector companies). Only one applicant is required to provide the salary certificate/transfer letter but it is mandatory that all the joint applicants are Omani residents
 
Features
  • A current account available in Omani riyals, UAE dirham, US dollars, Euro, pound sterling, and other major currencies
  • Overdraft protection and bill auto-payment service
  • Free unlimited transactions every month
  • Free internet banking, phone banking and SMS alerts – bank where and when it suits you
  • Free cheque books – and if your card is lost or stolen, use ‘Stop Cheque’
Eligibility
  • Minimum monthly salary transferred to HSBC OMR 700 (or equivalent in foreign currency) or more.
  • Minimum monthly average balance in deposits and/or investments OMR 10,000 (or equivalent in foreign currency) or more
** 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 on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
Bank Muscat - Loans for Omani Nationals
Minimum Salary
OMR 1200
Flat Rate
4.3%
Oman Arab Bank - Personal Loan
Minimum Salary
OMR 325
Flat Rate
4.5%
ahlibank - MyLoan
Minimum Salary
OMR 300
Flat Rate
4.6%
Bank Dhofar - Personal Loan
Minimum Salary
OMR 350
Flat Rate
4.5%