(MENAFN- Muscat Daily) Muscat- As part of its Ramadan related initiatives and in line with its customer-focused strategy, Bank Sohar has introduced this year's Al Mumayaz Auto Loan Ramadan Promotion.
Ensuring loan approval within an hour's time, interest rates starting from only 4.5 per cent pa, a grace period for the commencement of the loan repayment up to Eid al Adha and many other features and benefits, the special Ramadan Promotion will also offer customers very attractive rates on motor insurance as well as a credit card, free of charges for the first year, based on eligibility.
Khamis Masoud al Rahbi, senior AGM and acting head of Retail Banking, Bank Sohar, said, 'Stemming from our strong belief that customers are the primary pillars of any organisation, we continue to evolve and introduce services that can cater to their requirements. As with every year in Ramadan, we have come to expect offers from all the various sectors within the industry and more so on the auto front. In order to allow our current and potential customers use such limited time offers, we continue to introduce innovative and packaged deals, which also allow us to stay in line with the competition and continue our path to banking excellence. With customer convenience as one of the top priorities, we have also set an evening counter to cater to clients from 8pm to 11pm at our Qurm branch.'
The bank's Al Mumayaz Auto Loan Ramadan Promotion will be available till July 31 and will continue to offer both Omani and expatriate customers interested in purchasing new or used vehicles all the other benefits and features they have been accustomed to, such as no requirement for a salary transfer as loans can be granted against post-dated cheques and financing of up to 80 per cent of the vehicle's value.
Finance is available for a maximum tenure of seven years for new vehicles and five years for used vehicles and there is no medical requirement for insurance of loans up to a certain limit.
In addition to these benefits, customers applying for an auto loan through Bank Sohar will also be entitled for a Bank Sohar Excel Visa Credit Card with the first year free of charge. The type of card, either Platinum, Gold or Classic, will be issued based on salary eligibility and will come with all of the benefits associated with any Excel Credit Card including Travel Insurance, Purchase Protection, Zero Lost Card Liability, Free Priority Pass and online shopping security via Verified by Visa and much more.
Together with its Al Mumayaz Auto Loan and other market leading retail products and services, Bank Sohar provides an extensive network of 29 conventional branches with 57 ATMs across the sultanate.
In addition, Bank Sohar customers can also avail of convenient cash withdrawal services at over 1,000 ATMs across the country operating under the 'OmanNet' platform. The bank's ATMs at Buraimi and Shinas border continue to operate with the 'Dirhams Dispensing' facility, adding immense convenience to businessmen who travel across the border on a regular basis.
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