Auto Finance

Sohar Islamic brings you an exclusive Auto Finance offer designed to help you own your dream car effortlessly. With competitive profit rates, flexible repayment terms, and financing options for both new and used cars, this is the perfect opportunity to drive away in your desired vehicle.

We are introducing the lowest Rate in the Market for Auto Finance starting from 3.49% for up to 1 years and exclusive 0.25% profit rate reduction for Electric Cars

Documents Required:

“Without Salary Transfer”

• 6 months’ salary credit bank statement
• Salary Certificate
• A normal savings account to be opened with Sohar Islamic
• Other terms and conditions on eligibility will be applicable

Eligibility:

• Omani & Expatriate Residents
• Minimum age: 18 years (Omanis), 21 years (Expats)
• Maximum age at Finance maturity: 60 years
• Minimum employment tenure depends on the employer
• Car Age Limit: New cars up to 1 year old, used cars up to 5 years old

Terms & Conditions:

• The financed vehicle must be approved by the Bank.
• The vehicle shall remain under the Bank’s lien until full settlement.
• Comprehensive Takaful may be required during the finance period.
• The customer must pay all monthly instalments on time.
• Early settlement is subject to the Bank’s policy.
• The Bank may repossess the vehicle in case of default.
• Any delay amount shall be credited to charity after deducting actual administrative expenses.