Bank Muscat offers loan deferment option for 3 months

Business Saturday 16/May/2020 16:26 PM
By: Times News Service
Bank Muscat offers loan deferment option for 3 months

Muscat: In line with the directives of the Supreme Committee for Dealing with COVID-19 and the Central Bank of Oman to address the current situation, Bank Muscat is offering loan deferment options for personal, auto and housing loans for three months.
The bank has said that the deferment option will be available for loan instalments that are due from May to July 2020. It is one of the many steps undertaken by the bank to support its customers during these difficult times.
Affected customers who are eligible to apply include those whose salaries have been reduced, those who have been placed on leave without pay, those whose additional income has been negatively affected and pensioners with a debt burden ratio over 40 per cent. Bank Muscat has reaffirmed its commitment to the affected that the interest will be handled in line with the instructions issued by the regulator and the competent authorities.
All customers who meet the criteria for loan deferments can apply for the same through Mobile Banking, Internet Banking or by visiting their nearest branch.