1. What are the minimum and maximum ages for the application of a home loan?
We offer home loans to customers between 21 and 55 years of age.
2. How much money can I borrow?
This is subject to your monthly salary/income and can be a maximum of 60% of the Debt Burden Ratio.
3. What interest rate will I pay?
It depends on your income and the time you apply for the loan. Contact our call center (800 77077) for information on our current interest rate offering.
4. Do I receive any special benefits?
You automatically receive a host of free benefits:
- Internationally accepted Electron ATM/debit card.
- Access to 65 National Bank of Oman branches.
- 24-hour telephone banking.
- Access to over 169 ATMs and CDMs across Oman.
- A pre-approved credit card.
5. How long do I have to repay my loan?
We offer a repayment period of up to 25 years based on your choice, eligibility and ease of repayment.
6. What is the minimum income required to qualify for a housing loan?
OMR 300 per month for Omani salaried customers.[F1]
7. What documents are required?
- ID copy (for all Omani nationals).
- Salary assignment letter.
- Recent salary certificate.
- Valid property valuation from bank approved property valuators.
- Six months bank statement (for buyout loans)
- Outstanding letter and Exhibit 1 (for buyout loans)
- One passport photograph
8. Can I increase my loan limit after availing the personal loan?
9. Can I request for a waiver of installment?
No, waivers are not offered in housing loans.
10. Can I prepay the loan before the maturity?
Yes, you can prepay your loan anytime. The bank will not charge you anything if the loan is prepaid from your funds, but there will be a 1% charge on the prepaid amount if the loan is taken over by another bank.