Meethaq launches attractive vehicle financing offer for Ramadan

In line with the bank’s vision ‘To serve you better, everyday’, Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, has launched an attractive vehicle finance offer for the holy month of Ramadan. Meethaq’s Sharia’a-compliant auto finance facility features very attractive profit rates for auto finance in the country and can be availed for the purchase of both new and used vehicles.

A highly competitive profit rates starting from just 3.99 per cent p.a. for 12 month financing, 4.49 per cent p.a. for 24 month financing and 4.99 per cent p.a. for three-year financing are available for customers until May 31 under this offer. Meethaq Auto Finance, which is available for all Omanis meeting the required financing eligibility criteria, comes with additional benefits which include a financing amount of up to 80 per cent of the value of vehicles and deferred payment tenure of up to eight years. In addition to the competitive profit rates, customers can also benefit from the Life Takaful coverage which is part of the offer.

Meethaq customers can also avail Comprehensive Motor or Third Party Motor Takaful at very competitive rates. The Motor Takaful comes with additional benefits such as free Personal Accident Cover for up to seven passengers, free UAE Cover, free dealer repair during the first year of registration and dealer repairs for up to three years from the vehicle’s first registration at a nominal cost. Customer can also benefit from comprehensive cover for vehicles that are up to seven years old.

In addition, Meethaq customers who opt for Comprehensive Motor Takaful will be eligible for a complimentary ‘pick-up and drop’ service to the authorised dealer for routine maintenance once a year. Customers can also get a backup car for up to 15 days in case of an accident and the resulting repair requires a minimum of three days to complete.

Speaking on the occasion, Amor Said al Amri, head of Retail Branches, Meethaq, said, “We are delighted to launch the all new Meethaq auto financing package for our valued customers with special profit rates as per their financing needs. It comes with the advantage of having simple documentation and fast processing that will help customers to quickly get the vehicle of their dreams at an affordable price.”

As the pioneer of Islamic banking in the sultanate, Meethaq has adopted best practices in Islamic banking and finance worldwide to provide a robust model that benefits its customers. Every Meethaq product goes through Sharia’a compliance certification by the bank’s Sharia’a Supervisory Board and is created in line with the guidelines of the Central Bank of Oman.

For more details regarding Meethaq’s Auto Finance, please call 24656666 or go to https://www.meethaq.om/en/ consumerfinancing/Pages/details.aspx#car.