Muscat, June 16th 2016 – In celebration of the Holy Month of Ramadan, Oman Arab Bank (OAB) has launched a package of special offers on its popular Markabati Auto Loan and added a new level of convenience to the car-buying journey. To help prospective purchasers during the festive period, OAB is offering existing and new customers the lowest installment auto loan through a combination of an attractive reduced interest rate of 4.5% per annum, first year free insurance when purchases are made from selected dealerships and a loan tenor of up to 10 years.

To facilitate the important decision of buying a new vehicle, OAB’s Muscat City Centre Branch will remain open until 10pm. In addition, OAB sales representatives will be available in leading car dealerships across Muscat, Sohar and Salalah after Iftar from 8.30pm to midnight, for the duration of Ramadan, to answer customer queries about Markabati, advise them on the flexible payment plans, help them choose the repayment period that best suits their circumstances, and steer them through the fast-track application process to instant on-the-spot approval.

“The Holy Month is one of the most popular times of the year to invest in a new vehicle, whether that is buying a first car, upgrading to a newer model, or finally purchasing that dream machine. To help make ambitions of car ownership a reality at this special time, the OAB Markabati Autoloan Team, in association with leading car dealerships, has developed this fantastic promotion with a focus on ease and convenience as well as extra value,” said Haseeb Iqbal, Head of Lending Products at Oman Arab Bank.

He added: “OAB’s Markabati Auto Loans are already one of Oman’s preferred options for finance on new and pre-owned vehicles thanks to their flexibility, the hassle-free and quick application process, and extended repayment periods. And thanks to partnerships with major automobile agencies we ensure the best deals for our customers at all times as well as exclusive discounts at a range of car care centers. With a complete series of financial solutions, OAB also offers mortgages of up to 25 years for Omanis and non-Omanis as well as a range of personal loan options. OAB is continually identifying new ways to enhance its offerings and this Ramadan auto-loan promotion is the latest example of our efforts in this regard.”

Since its inception, OAB has consistently expanded its reach to meet customers’ various requirements in the best way possible. Today, the Bank has a comprehensive footprint of over 65 strategically located branches and 135 ATMs and CDMs.