Bank Sohar introduces Ramadan Al Mumayaz auto loan promotion
MUSCAT: As part of its customer-driven Ramadan activities, Bank Sohar has introduced this year’s Al Mumayaz Auto Loan promotion for Ramadan.
Ensuring quick application approvals within the hour, Bank Sohar is offering interest rates starting from 4.5% per annum, with exclusive features and benefits with attractive rates on motor insurance and credit card facilities, free of charge for the first year, subject to eligibility.
Commenting on the promotion, Rajeev Arora, DGM and head of Retail Banking at Bank Sohar, said, “Customers have always been a primary pillar of our organisation, and in this ‘Year of You’ Bank Sohar’s customer strategy is focused on raising the bar by not only introducing new product bouquet offerings but also enhancing our existing facilities and services, as inspired by our commitment to banking excellence. Each year the holy month provides a great opportunity for both the retail consumers and businesses alike when it comes to Cars and automobile purchasing. Thus as a financier, Bank Sohar focuses on providing options that inspire new and existing customers with innovatively packaged deals, with convenience, service and efficiency as our top priorities in the Year of You.”
The bank’s Al Mumayaz Auto Loan Ramadan promotion valid till July 31 is available throughout the holy month at all bank’s branches and with extended working hours from 8pm to 11pm through our newly opened Al Wattayah Branch. Omani and expatriate customers are welcome to avail the offer with new or used vehicles, with no requirement for a salary transfer as loans will be approved against post-dated cheques and financing of up to 80% of the respective vehicle’s value. Finance is available for a maximum tenure of seven years for new vehicles and five years for used vehicles, with no medical requirement for the insurance of loans up to a certain limit.
Customers applying for an automotive loan through the bank are further entitled to a Bank Sohar Excel Visa Credit Card with the first year free of charge. The type of card; either Gold, Platinum or Signature, 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, and online shopping security via Verified by Visa, and much more.
Alongside the Al Mumayaz Auto Loans and other marketleading products and services, Bank Sohar recently extend its portfolio with a number of policies offering life insurance, personal accident insurance, critical illness insurance, and domestic helper insurance, with a plan to launch hospital cash benefits, female cancer insurance, and an education shield in the near future. Furthermore, the bank has recently launched ‘Al Khaas’, a unique value proposition specially designed by Bank Sohar to cater to the needs of its HNI customers by offering them a differentiated banking experience.