COVID-19 UPDATES

Precautionary measures we’re taking against Novel Coronavirus COVID-19

The health and wellbeing of our employees and customers remains our highest priority and we are closely monitoring the latest reports and updates from the Ministry of Health (MOH) and have taken a number of precautionary measures for the health and safety of our customers and employees. We are continuously working with all our departments to align and update ourselves on appropriate responses for any situation amid this outbreak. We assure you of our continuous services during this time to highest level of satisfaction, while we continue to be guided by the relevant authorities.
 
 
COVID-19 Loan Deferment (extension for Oct 2020 to Mar 2021)  
 

At NBO we care for you, due to the current pandemic (Covid-19), NBO is committed to stand with our customers by offering immediate relief measures. Our efforts through these relief measures are directed towards helping you focus on the well-being of yourself and your family in this challenging situation. This deferment package is an additional relief to all affected resident customers and businesses that need it the most during these challenging times.

Loan Instalment  Deferment extension for
October 2020 to March 2021 

Omani customers whose salaries have been reduced are able to avail the extension of deferments with no interest until December 2020 and will need to download the form here.

  
Frequently Asked Questions (FAQs)
 
1. Q: What is meant by loan deferment?

A: It is a temporary suspension of loan instalment (including principal & interest) payment obligation for a limited period of time of the resident borrowers / customers of the bank. During this period, the affected customers with loan do not need to make any payment, and no late payment charges will be imposed on them. Affected customers will need to honor the deferred payments in the future as per agreed / revised terms of payments.

2. Q: Which loans are eligible for deferment?

A: All active non delinquent Personal Loan (Salary Related Loan) and Housing Loans are eligible for deferral.

3 Q: Are credit card outstanding amounts included under the deferment?

A: No

4 Q: In case multiple loan facilities are availed by the customer, is the deferral applicable for all facilities?

A: Yes, deferral is applicable to all eligible loans. The customer can select the loan(s) for which he wants to avail the deferral in the mobile banking application.

5 Q: Can this deferred payment be availed by non-resident customers also?

A: No, only resident Omani customers are eligible to avail this deferred payment.

6 Q: What about the interest on the loan during deferment?
For affected borrowers, No interest-on-interest on the defer loan / instalments should be charged for all affected borrowers. However, interest will continue to be added (accrued) on the loan (principal of instalments only) that are deferred, and customers will need to honor the payment in the future. Treatment of the interest payments will be as per terms and conditions applicable to the loan facility. This will result in increase in number of loan installments and tenor.

However, Omani customers whose salaries have been reduced are able to avail the extension of deferments with no interest until December 2020.


7 Q: Will there be charges associated with processing customer deferments?

A: No charges are to be levied.

8. Q: Is availing the deferment mandatory or optional?

A: It is optional to avail the deferment. The customer can choose whether to avail the deferment or continue to pay the monthly installment.
For customers who do not wish to avail of deferment, no further action is required, the EMIs will be deducted as normal
 
9. Q: What are the reasons for applying for a COVID-19 deferment?

A: Customers are required to specify the reasons for applying which may include:
  • Non Salary income stoppage / reduction
  • Leave without pay
  • Increased expenses
  • Salary reduction

10. Q: Where and how can customers apply for the deferment?

A: Customers can apply for the deferment via NBO’s mobile banking application.
Customers will then have to submit the supporting documents as proof of hardship to the dedicated email covid19@nbo.om
All customers will need to quote the unique reference number of the mobile application requests in the subject of the email for easy tracking and to serve the customer within the timeline given
If customer is facing difficulties, customer can contact the call center

11. Q: For what period is the deferment offered?

A: Customers can apply for the deferment for upcoming 6 months October 2020 till March 2021
Also, Omani customers whose salaries have been reduced are able to avail the extension of deferments with no interest until December 2020

12. Q: What is the cut-off time whilst applying for the COVID 19 deferment?

A: Customers must apply for the deferment, 5 working days prior to salary credit as per the process mentioned in Point 10 above

13. Q: What if the customer applies for the COVID 19 deferment later than the specified 5 day prior to salary period?

A: Customers must submit their requests at least 5 working days prior to salary credit. If the customer submits the request with clear proof later than 5 days from monthly installment due day or salary credit then the deferment will begin from following month, if he / she has applied for subsequent month deferments.

14. Q: How will the deferment affect my loan monthly installment?

A: For affected borrowers, the deferment will be applied on the loan installment. The accrued interest will be added to loan outstanding at the end of deferment. This will result in increase in remaining tenure of the loan.

15. Q: Which customers are eligible for the COVID-19 deferment?

A: The deferment of loan financing instalments as well as related interest is applicable to Affected Omani resident borrowers

16. Q: If a customer has already taken a deferment prior to the COVID 19 deferment will he / she still be able to avail an additional deferment?

A: Yes, customers can avail of COVID related deferments in addition to previous deferments

17. Q: Will the insurance premium be charged when availing the deferment?

A: Yes, the insurance premium on the loan will be debited as usual
 
18 Q: If the customer is impacted for a shorter period (eg. 2 months of temporary hardship), would the bank offer him 2 months deferment only in lieu of full 6 months ?

A: Yes, the bank shall follow an approval process for all deferral requests and if it is established that the period of actual financial hardship is lesser, then the bank may restrict the deferment to actual period of financial hardships only. The customers shall be informed of the approvals via bank channels.

19 Q: If a customer has opted to avail this Covid-19 deferment option, would the customers still be eligible for new loans?

A: Yes, customers’ eligibility for obtaining new loans will not be impacted by availing the deferment facility. However, the bank will evaluate new loan applications as per internal credit policies and risk assessment procedures. No deferment of instalments will be given to new granted loans approved after 18th of March, 2020

20: What documentation is required when applying for the Covid 19 deferment?

A: Documents required:
- Depending on the circumstance of the borrower the following documents will need to be provided to prove the financial hardship he / she is facing as a direct result of the COVID 19 pandemic.
These documents will have to be sent on the dedicated email address covid19@nbo.om quoting the NBO’s mobile banking Application unique reference number in the subject of the email

 

 Reason for
Deferment
Required
Documents
1Salary
Reduction
  • Valid and recent letter from employer
  • PASI registration statement
2Additional income stopped / reduced
  • Valid and recent letter from employer
  • 1-year Account statement
  • If income is related to business, then the relevant license must be provided (ie. Valid commercial registry along with municipality business activity permission  , vehicle registration, rental lease contract or home business license)
3Leave without Pay
  • Valid and recent letter from employer
  • PASI registration statement



How is NBO managing its readiness and response?

NBO has operationalized its Crisis Management Team (CMT) to ensure an effective bank-wide readiness and response to this outbreak. CMT is continuously getting updates from authorities and collaborating internally to regularly communicate updates to our customers and employees.

How is NBO’s Business Continuity Plan implemented?
NBO has a Business Continuity Management Framework that’s aligned to its operating model and is in compliance with regulatory requirements. The Business Continuity Plans were tested to ensure organizational resilience and continuity of business services in the event of an emergency or crisis.

The following is a list of consumer branch services that can be done on our mobile banking app or online internet banking:

  • Fund transfer within your own accounts
  • Fund transfer locally to any NBO account
  • Fund transfer locally to any bank in Oman
  • International fund transfer to any bank globally
  • Instant (near real time) transfers to India
  • Order or top-up Badeel Prepaid Card
  • Manage your cards(s) - activate, block, block usage in certain countries, increase/decrease card usage limit
  • Request a cheque book
  • Stop cheque processing in event of losing cheques
  • View account, card or loan statement
  • Open additional savings account
  • Pay your credit card
  • Subscribe for e-Statement
  • Protect cheque (only on internet banking)
  • Download your account statement (only on internet banking)

In addition to the above, we would like to remind you of the following exclusive mobile banking app services & features:

  • Scan & pay at merchant outlets supporting QR payments
  • Recharge or pay mobile phone bills
  • Pay electricity, water or school fees
  • Pay a credit card transaction in installments using Easy Payment Plans (EPP)
  • Explore NBO's special offers, deals and discounts

The following is a list of corporate branch services that can be done on our Corporate Internet Banking:

  • Salary payments
  • Local and international funds transfers
  • Utility payments
  • Download statements
  • Bulk payments
  • POS analytics
  • Access to trade portal

Say goodbye to brokers and phone calls – NBO brings the stock market to you with MarketZone. Trade, monitor and grow your portfolio through a mobile app for the first time.

Download the Market Zone app to benefit from:

  • A portfolio snapshot including balance and historical trades.
  • Buying and selling stocks across the Muscat Securities Market (MSM).
  • Instant email and SMS notifications of your trade(s).
  • Instant alerts for current stock price levels. 
  • Bilingual capabilities across English and Arabic. 
  • Direct debit & credit to your linked account.

In-line with the measures we're taking in response to the COVID-19 coronavirus, our network of branches* will be limited to providing the following services:

  • Cash withdrawal and deposit beyond ATM/CDM limit
  • Cheque deposit/encashment
  • New account opening
  • New and additional personal loan
  • Request new credit card
  • Purchase insurance products
  • Purchase Investment products
  • Card/Cheque book collection

*Except for our closed Airport branch

Should you require any services that not available through these means or have any questions, please contact our call center on 800 77077.

Notice for Corporate Banking Client
Corporates should be informed that Central Bank of Oman (CBO) has extended their audited financials and net worth statements submission date to 30 June 2020.

Remittance to India

A multilingual support team has been established on money transfers to India that can be reached daily on 9807 7077, 9548 6650, 9548 63 66 from 9AM to 9 PM.

Bulk Account Opening for Laborers
Requests for bulk account opening can be sent bulkaccounts@nbo.com.
 

 

Branch Timings:

All our branches will operate from 8:00 AM – 2:00 PM.

Our Digital Banking Platforms (Mobile Banking and Online Banking) are always available, making banking from home easy and convenient.

Instant Debit Card Issuance Branches     

Please see the list below for 24 branches you can visit to update your expired Debit cards instantly or to update your Civil ID cards

​Governante ​Branch Name Timing
Sharqiya RegionSur8:00 AM - 2:00 PM
Sharqiya RegionIbra 8:00 AM - 2:00 PM
Sharqiya RegionMasirah8:00 AM - 2:00 PM
Sharqiya RegionJalaan8:00 AM - 2:00 PM
Sharqiya RegionAl Kamil8:00 AM - 2:00 PM
Sharqiya RegionSinaw8:00 AM - 2:00 PM
Sharqiya RegionDUQM8:00 AM - 2:00 PM
Dakhliyah & Dhahira Nizwa8:00 AM - 2:00 PM
Dakhliyah & Dhahira Buraimi8:00 AM - 2:00 PM
Dakhliyah & Dhahira Ibri8:00 AM - 2:00 PM
Dakhliyah & Dhahira Bahla8:00 AM - 2:00 PM
Dakhliyah & Dhahira Sumail8:00 AM - 2:00 PM
Dakhliyah & Dhahira Firq8:00 AM - 2:00 PM
Dakhliyah & Dhahira Ibri8:00 AM - 2:00 PM
Dakhliyah & Dhahira Bahla8:00 AM - 2:00 PM
Dakhliyah & Dhahira Sumail8:00 AM - 2:00 PM
Muscat south  Mina Al Fahal8:00 AM - 2:00 PM
Muscat south  CBD8:00 AM - 2:00 PM
Muscat south  Mina Al Fahal8:00 AM - 2:00 PM
Muscat south  Shatti Al Qurum8:00 AM - 2:00 PM
Muscat south  Amirat 8:00 AM - 2:00 PM
Muscat south  Qurriyat8:00 AM - 2:00 PM
Al Batinah Hamber Sohar8:00 AM - 2:00 PM
Al Batinah Sohar Industrial Area8:00 AM - 2:00 PM
Al Batinah Sohar8:00 AM - 2:00 PM
Al Batinah Rustaq8:00 AM - 2:00 PM
Al Batinah Barka8:00 AM - 2:00 PM
Al Batinah Musna8:00 AM - 2:00 PM
Al Batinah Saham 8:00 AM - 2:00 PM
Al Batinah Rustaq8:00 AM - 2:00 PM
Muscat North Al Khuwair8:00 AM - 2:00 PM
Muscat North Mabella8:00 AM - 2:00 PM
Muscat North Azaiba8:00 AM - 2:00 PM
Muscat North Seeb Town8:00 AM - 2:00 PM
Muscat North Al Khoud
8:00 AM - 2:00 PM
Muscat North M.O.H8:00 AM - 2:00 PM
Muscat North New Head Office – Azaiba8:00 AM - 2:00 PM
Muscat North Al Khuwair8:00 AM - 2:00 PM
Muscat North Muscat Airport 8:00 AM - 2:00 PM
Muscat North M.O.H8:00 AM - 2:00 PM
Muscat North Bousher 8:00 AM - 2:00 PM
Muscat North SQU8:00 AM - 2:00 PM
Muscat North Khasab8:00 AM - 2:00 PM
Dhofar  Salalah8:00 AM - 2:00 PM
Dhofar  NEW SALALAH8:00 AM - 2:00 PM

 

List of open branches
Governate Branch Name Timing
SharqiyaSur8:00 AM - 2:00 PM
SharqiyaMasirah8:00 AM - 2:00 PM
SharqiyaJalaan8:00 AM - 2:00 PM
SharqiyaBBB Ali8:00 AM - 2:00 PM
SharqiyaIbra 8:00 AM - 2:00 PM
SharqiyaAl Kamil8:00 AM - 2:00 PM
SharqiyaAl Mudaibi8:00 AM - 2:00 PM
SharqiyaSinaw8:00 AM - 2:00 PM
SharqiyaDuqum8:00 AM - 2:00 PM
Dakhliyah & Dhahira Nizwa8:00 AM - 2:00 PM
Dakhliyah & Dhahira Buraimi8:00 AM - 2:00 PM
Dakhliyah & Dhahira Ibri8:00 AM - 2:00 PM
Dakhliyah & Dhahira Bahla8:00 AM - 2:00 PM
Dakhliyah & Dhahira Sumail8:00 AM - 2:00 PM
Dakhliyah & Dhahira Fanja8:00 AM - 2:00 PM
Dakhliyah & Dhahira Al Hamra8:00 AM - 2:00 PM
Dakhliyah & Dhahira Dhank 8:00 AM - 2:00 PM
Dakhliyah & Dhahira Firq8:00 AM - 2:00 PM
​​​​​Dakhliyah & Dhahira​​​​Al Araqi Ibri​8:00 AM - 2:00 PM
Muscat South  Mina Al Fahal8:00 AM - 2:00 PM
Muscat SouthQurrum8:00 AM - 2:00 PM
Muscat SouthAmirat8:00 AM - 2:00 PM
Muscat SouthQurriyat8:00 AM - 2:00 PM
Al Batinah Hamber Sohar8:00 AM - 2:00 PM
Al Batinah Shinas8:00 AM - 2:00 PM
Al Batinah Saham 8:00 AM - 2:00 PM
Al Batinah Sohar Industrial Area8:00 AM - 2:00 PM
Al Batinah Sohar8:00 AM - 2:00 PM
Al Batinah Afi8:00 AM - 2:00 PM
Al Batinah Rustaq8:00 AM - 2:00 PM
Al Batinah Barka8:00 AM - 2:00 PM
Al Batinah Khaboura8:00 AM - 2:00 PM
Al Batinah Bidaya8:00 AM - 2:00 PM
​Al Batinah Musna​8:00 AM - 2:00 PM
Muscat North Al Khuwair8:00 AM - 2:00 PM
Muscat North Ministry of Education8:00 AM - 2:00 PM
Muscat North Ma'abella8:00 AM - 2:00 PM
Muscat North Azaiba8:00 AM - 2:00 PM
Muscat North Seeb Town8:00 AM - 2:00 PM
Muscat North Al Khod8:00 AM - 2:00 PM
Muscat North Bousher 8:00 AM - 2:00 PM
Muscat North SQU8:00 AM - 2:00 PM
Muscat North Khasab8:00 AM - 2:00 PM
Muscat North Wattayah8:00 AM - 2:00 PM
​Muscat North ​Shatti Qurum​8:00 AM - 2:00 PM
​Muscat North Muwaleh 8:00 AM - 2:00 PM
Muscat NorthMain Branch8:00 AM - 2:00 PM
​Muscat North​​Ministry of Health​8:00 AM - 2:00 PM
​​​​Muscat North​​​Al Khoud​​8:00 AM - 2:00 PM
​​Muscat North ​​Muscat Airport​​​8:00 AM - 2:00 PM
​Al Batinah Barka​​​8:00 AM - 2:00 PM
Dhofar  Sultan Qaboos Hospital Salalah8:00 AM - 2:00 PM
Dhofar  Mirbat
8:00 AM - 2:00 PM
Dhofar  Saada8:00 AM - 2:00 PM
Dhofar  New Salalah8:00 AM - 2:00 PM
​Dhofar  ​Salalah​8:00 AM - 2:00 PM

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