Because We Care!
Up to 3 Months deferment of installments on Personal & Housing Loans.
In support of the community & as part of our social responsibility, we are pleased to announce to our customers that loan installments may now be deferred by up to 3 months for Personal & Housing Loans.
To Apply: Please download our Mobile Banking App, login, select “Requests” from the main menu, and click on “Loan Waiver”.
Note: Insurance Coverage for the deferment period will be covered by the bank
Terms & Conditions
- Deferment eligibility is for Omani customers having active non-delinquent retail loans (Personal, Housing).
- Customers can apply for the deferment via our mobile banking application.
- Customers can apply for the deferment for any or all of the months of May, June and/or July.
- Deferment is optional to avail; customer can choose whether to avail the deferment or continue to pay the regular monthly installment.
- Deferral is applicable to all eligible loans including for customers maintaining multiple loan facilities. The customer can select the loan(s) for which he wants to avail the deferral through our mobile banking app.
- Customers must apply for the deferment before 20th of the month. If the submission request comes on or after 20th of the month, the deferment will begin in the following month, if customer has applied for following month deferment.
- The deferment will be applied on the loan instalment. The accrued interest will be added to loan outstanding at the end of deferment. This will result in an increase of the loan tenure of the loan.
- The maximum number of deferment(s) must not exceed 3 deferments in a year.
- The bank has the right to reject the application without prior notice.