Thursday 02 / May / 2024
Muscat: As the largest financial services provider in Oman and aligned to its customer-centric vision, Bank Muscat has been providing various financing products to the largest number of customers in Oman, which are in line with their unique needs.
Bank Muscat’s Baituna home finance in particular has been helping large numbers of customers over the years in financing their dream home.
As part of its efforts to improve financial inclusion, the bank is currently offering an attractive interest rate on home finance till 30th June 2022 to select customer segments, who are currently not availing any financing from the bank. New customers can also avail the attractive offer by applying for financing or transferring their existing financing to Bank Muscat.
Omani nationals in Government institutions, Tier 1 companies, select government and private sector entities and pensioners are eligible for this special offer, which features low interest rates starting at 4.5 percent. Customers can use Baituna financing up to OMR500,000 and for a tenor up to 25 years to construct or purchase new homes or buy land for residential construction. Bank Muscat customers can take advantage of the fast processing of applications and the excellent insurance coverage for their financing. Flexible payment options and quick documentation makes Baituna the leading home finance in the Sultanate. Documents required include ID card, Salary assignment letter, Krooki and Mulkiya copy, valuation of property from an approved evaluator, Sales and Purchase agreement, and seller ID. Construction legalisation (Ebahaa) and maps as well as Advisory letter and contractor agreement are required in case of construction loans.
Speaking about Baituna, Abdullah Tamman Al Maashani, General Manager - Products, said: “Bank Muscat is very keen to provide products and benefits in line with the needs of its customers, and is continuously fine-tuning and developing them. We would also like to thank our customers for the strong confidence in our products and services and their valuable feedback, which is helping the bank develop and offer new products that best serve the needs of its customers. We would like to encourage all eligible customers to take maximum advantage of this special offer at the earliest in making their dream homes a reality.
Housing finance development is particularly important in boosting equitable economic growth, enabling households build assets, improving living conditions, empowering a country’s population, and strengthening communities and overall social cohesion.
Bank Muscat is committed to supporting this crucial sector and strengthening its role in the development and growth of the Sultanate’s economy.
As Oman prepares for the next phase of its progress and development under the landmark Oman Vision 20240, the role of home financing is only set to grow more and more important.
All Bank Muscat products and services have evolved based on customer feedback and is meant to fulfil their financial needs and aspirations in an ever-changing world.
