As Oman’s first Islamic bank, we aim to help you realise owning a vehicle – while recognising your responsibilities. That is why Bank Nizwa Auto Finance, based on the Shari’a concept of Murabaha, is not only available for a range of leading brands and models but also at a highly affordable profit rate and with several value-added benefits too.
Minimum age: 18 years
With Salary Transfer: Rial 400 Without Salary Transfer: Rial 600
Auto Finance Features
Shari’a-compliant auto finance product
Highly competitive profit rates
Payment period up to 10 years
Salary transfer not mandatory
No hidden charges
Available to salaried and self-employed
Finance available for new and used cars
Available for a wide range of brands
Available for any nationality
Facts you need to know…
Why take Auto Finance from Bank Nizwa? Shari’a-compliant product and processes; Transparent pricing & charges; Quick processing and approval; No hidden charges
Are there special arrangements with dealers? Yes. Our arrangements with dealers ensure speedy processing and faster delivery of the vehicle.
What are the documents required? Passport with valid visa (for expatriates) Oman National ID / Resident ID Card / GCC Passport Copy; Quotation in favour of Bank Nizwa from the dealer of vehicle you wish to purchase
Bank Statements of previous 6 months For salary transfer financing: Salary Transfer Letter from employer Salary Certificate from employer addressed to Bank Nizwa Salary For non-salary transfer financing: Salary Certificate from employer addressed to Bank Nizwa For self-employed, apart from above, the following documents are required: Trade License (in case of self-employed) Notarised POA (where applicable for self-employed)
Standing instructions / Post-dated cheques
How do I avail Bank Nizwa Auto Finance? Simply walk into any of our branches and our Personal Banking Officer will guide you through the steps Alternatively, you can call 800 700 60 for more information
Salaried Customers of Bank Nizwa can now get Islamic Finance through IFIN platform in just 10 minutes!
How does this work?
Customers of Bank Nizwa can visit any of retailers partnered with IFIN and submit their application there. All they need is their ID card and the mobile registered with the Bank. The credit decision takes about 20 seconds where the application can be either instantly Approved (where customer can complete the process within minutes) or Referred (where the Bank’s credit team will need to decide to whether approve or reject the application). If the application is “Approved”, the customer can sign the finance agreement at the retailer’s store.
For more details on IFIN – Instant Auto Finance, please contact us on 24950500.
All Bank Nizwa products and services are approved by the Shari’a Supervisory Board.
For more information call 24950500 or visit any of our conveniently located branches.
Disclaimer: Bank Nizwa products and services will be made available at the sole discretion of Bank Nizwa SOAG; subject to Bank Nizwa’s Terms and Conditions for Shari’ah Compliant Account Operation and upon submission of documentation acceptable to Bank Nizwa.