(MENAFN- Muscat Daily) Alizz islamic bank has recently launched an attractive auto finance campaign for the holy month of Ramadan.
The feature-rich auto finance is available at profit rate 4.95 per cent p/a to all salary transfer customers including free UAE motor Takaful coverage free child car seat and a special 20 per cent discount voucher that can be redeemed with V-KOOL.
Takaful Oman is alizz islamic bank's approved motor Takaful partner where the bank has obtained favourable Takaful contribution rates for its auto finance customers. In addition Takaful Oman has also agreed to waive the extra (add-on) RO15 UAE cover for all new to bank Murabaha auto finance customers.
The first ten customers to avail the bank's auto finance Ramadan special will be rewarded with free V-KOOL vouchers. The next wave of customers will be given a special 20 per cent discount voucher that can be redeemed with V-KOOL. Customers will redeem the voucher at V-KOOL outlets both in Al Khuwayr and in Muscat City Centre Seeb.
Commenting on the launch of the campaign Moosa al Jadidi deputy general manager head of retail bank alizz islamic bank said 'Now our customers can obtain the special auto finance offer from any of our six branches in CBD Wattayah Al Khoudh Nizwa Sohar and Salalah. Furthermore the Wattayah branch will be open for customers from 8pm till midnight during Ramadan.'
The benefits of auto finance from alizz islamic bank include a settlement period of up to 84 months and a finance amount of up to 80 per cent. The product is open to both Omani nationals and resident expatriates salaried and self-employed individuals with fast approvals and simple documentation.
The auto finance product offered by alizz islamic bank is based on the Sharia'a principle of Murabaha. A contract that involves the sale of an item on a deferred basis. The bank purchases the car based on the customer's request and promise and sells it to the customer at cost plus the agreed profit rate concluding the Murabaha sale contract. The car is delivered immediately and the payment is made through easy installments.
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