Muscat, May 19, 2019: Oman Arab Bank (OAB) has announced the launch of its new limited-time Auto Loan and Insurance Offer for the holy month of Ramadan. As part of the offer, customers who purchase a new or used vehicle during the offer period can finance it through the Bank’s Auto Loan facility to benefit from interest rates starting from just 4.99% per annum, together with tenures of up to ten years and quick approvals. Customers purchasing new cars can also take advantage of the Bank’s special insurance offer with rates starting as low as 1.50%.
Commenting on the exclusive Ramadan offer, Rashad Al Shaikh Deputy Head of Retail Banking Group said, “Our Auto Loan product is designed to be simple and convenient. We support our customers with quick approval processes combined with complete flexibility, offering them financing on both new and used cars. In celebration of the holy month, we are further sweetening the deal with lower interest rates. Additionally, we have extended our Ramadan offer with an automotive Insurance product provided in partnership with National Life & General Insurance Company, with rates that are once again amongst the lowest in the market.”
The special discounted rate is available until 13 June 2019 and will finance up to 80% of the vehicle value for a periods of up to ten years. The program also prides itself on offering quick initial approvals and hassle-free loan processing. Furthermore, customers who apply for an auto loan will also be eligible for a free credit card with no annual fee.
“Such offers reiterate our commitment to offering our customers the very finest facilities and products available in the market. Through these offers we extend our support to our customers to help them purchase the car they have always dreamed of owning,” said Rashad Al Shaikh
Oman Arab Bank is one of the first banks to be established in Oman, with a rich and proud history. Today, the bank operates a nationwide network of 65 branches and representative offices and 152 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.