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Attractive Interest Rate From Sohar Housing Loan Home Solutions.
Are you planning on buying a property or land? Are you looking for a home financing solution with a lower interest rate? If your answer is yes, visit any of Sohar International branches or contact the call center to get the best property financing solutions.
90%
Up to
Amount of property value financed
25
years
Maximum loan tenor
You Can Benefit From Sohar Housing Loan Home Solutions for:
Construction of residential property
Purchase of residential land
Transfer of existing home loan from other banks
Please fill in the form and we will contact you
Product features:
Lower interest rate
Sohar Housing Loan Home Solutions offer the lowest interest and insurance premium in the market and the lowest monthly installments.
Finance up to 90% of the property value
There is also a facility to avail of home furnishing finance at the housing loan interest rates.
Grace period up to 18 months for Construction of residential property
Low monthly installments
Loan tenor up to 25 years
Life insurance coverage options
Fast and simple application process
Eligibility
- This offer is exclusively for the Omani employees of government, semi-government or private sector companies in the bank’s list of approved companies.
- Expatriates can benefit from this product towards buying property in designated projects allowed by the law.
- Minimum age of availing loan is 18 years.
- Maximum age at the time of loan maturity is 60 years.
Interest Rate Details
| Salary Range (OMR) / Employer | Govt & Semi Govt | Private |
|---|---|---|
| 500 - 699 | 4.99% | 5.50% |
| 700 - 2,999 | 4.50% | 4.75% |
| 3,000+ | 4.25% | 4.50% |
Terms and conditions
- The loan amount may not exceed 90% of the value of the property.
The maximum loan amount will be calculated based on the monthly income and the customer's total ability to pay
- The maximum period is 25 years including a grace period of up to 18 months.
Required documents
The documents required are from four parties: Parents / guardian, Student, Institution selected for study, A separate set of documents is required from customers who do not wish to assign their salaries.
- For buying property
- Omanis - a copy of ID
- Expatriates - residence card & Passport copy with valid visa
- Completed Loan Application Form
- Liability certificate from existing banks/ or financial institutions/ employer (if any)
- Salary certificate of the applicant/ co-applicant
- Bank statement of the last six months stamped by the bank
- Copy of title deed and krooki
- Proof of additional income if any
- Original valuation report from one of the bank's approved valuation agencies
- For Construction
- Copy of construction agreement signed by the contractor, consultant, and owner with schedule of payment
- Copy of building permit
- Proof of payment contribution to contractor if any For Purchase
- Purchase agreement and the copy of Id card of the seller
- Proof of down payment to a seller if any