Muscat, May 28, 2016: Oman Arab Bank (OAB), has announced the launch of their new limited time Auto Loan and Insurance Offer which will run until June 28. As part of the offer, customers who purchase a new or used vehicle during the offer period and finance it through the Bank’s Auto Loan facility will be eligible for interest rates starting from just 4.5% per annum, with tenures of up to ten years and quick approvals. Customers purchasing new cars can also avail of the Bank’s special insurance offer with rates starting from as low as 1.65% per annum. Customers availing of the OAB Auto Loan and Insurance Offer will also be presented with a free Credit Card for the first year.
Commenting on the special offer, Rashad Al Sheikh, the Deputy Head of Retail Group said, “Our Auto Loan product is continuing to grown in popularity amongst our customers, thanks to its incredible flexibility and quick approval process. In celebration of the holy month we have decided to take it to a new level with the introduction of our new Ramadan offer. With this offer we will be providing our customers with special interest rates, quick approvals and hassle free processing, and very special insurance rates on their newly purchased vehicle that are amongst the lowest in the market; amongst other value added benefits. This offer will no doubt help our customers greatly when purchasing the car of their dreams this Ramadan.”
Running until June 28, OAB will be offering its customers auto loans for new and used cars for up to 80% of the value at a special discounted rate of just 4.5% per annum. Finance will be available for a period of up to ten years; for both Omani and expatriate customers. The program also prides itself on offering quick processing with initial approvals and hassle-free loan processing. Customers purchasing new cars under the offer will also be provided with an option to insure the vehicle with the Bank with insurance rates starting from as low as 1.65% per annum; thereby benefitting from amongst the best rates available in the market. As yet another value-added benefit, customers of the OAB Auto Loan and Insurance Offer will also be presented with a Visa Classic Credit Card free for the first year.
“We wanted to offer something truly special to our customers, which is why we collectively introduced these two offers with flexible features for vehicle finance and insurance. Offers like these also reiterate our commitment to providing our customers with the best options and services at rates considered amongst the best in the market. It is also our way of celebrating the holy month with them as well as expressing our gratitude for their continued loyalty to our Bank,” added Rashad.
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 148 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.