Bank Sohar, one of the leading banks in the Sultanate, announced the launch of their all-new Al Mumayaz Auto Loan offer at a press conference held on Monday 16th June, at Grand Hayat Muscat.

Bank Sohar announces launch of ‘Al Mumayaz Auto Loan’ with speedy approvals

: Tuesday, June 17 - 2014 @ 14:46

Bank Sohar, one of the leading banks in the Sultanate, announced the launch of their all-new Al Mumayaz Auto Loan offer at a press conference held on Monday 16th June, at Grand Hayat Muscat. In an event that was attended by senior executives from Bank Sohar including R Narasimhan – DGM and Head Retail Banking, Khamis Al Rahbi – AGM Branches, Mazin Mahmood Al Raisi – AGM of Marketing and Publicity, Nandakumar – Sr. AGM of Retail Business and Product Development, in addition to Ibrahim Al Abri, Manager of Auto Loans at Bank Sohar, representatives of automobile dealerships in Oman as well as the press, the new product was introduced.

The programme began with a welcome speech by Mr. R Narasimhan, DGM and Head Retail Banking at Bank Sohar, followed by a short presentation by the product development team which was succeeded by an interactive question and answer session.

The new Al Mumayaz Auto Loan guarantees customers approvals within 1-hour offering financing for all new car purchases without the need for a salary transfer. Coinciding with the preparations for the Holy Month of Ramadan, the Al Mumayaz Auto Loan offers customers an exclusive Ramadan introductory offer that includes discounted interest rates valid till end of October, 2014.

Commenting on the launch of the Al Mumayaz Auto Loan, Mr. R. Narasimhan, DGM & Head of Retail Banking, said, “With the Holy Month of Ramadan approaching, this is the season when many people are looking to own a new vehicle, capitalising on the variety of special offers presented to them by automotive dealerships. Together with these offers, our new auto loan product and its accompanying exclusive Ramadan introductory offer will no doubt provide our customers with an extremely quick and hassle-free finance solution when purchasing the car of their dreams.”

The new Auto Loan service is the latest in the wide range of Al Mumayaz products and services and offers both; Omanis and Expatriates auto financing solutions and 1 hour loan approvals for new cars for up to 80% of their value. Finance is available with no medical required for insurance of loans up to a certain limit of the loan. Al Mumayaz Auto Finance also provides the insurance option for the customers if they prefer to avail through the Bank.

“Selecting the right car is a very time consuming process. By offering a guaranteed turn-around time of just 1 hour, our customers can enjoy greater freedom in finalising their purchase decisions in a prompt manner. Together with its higher financing limits, competitive interest rates and other benefits, the Al Mumayaz Auto Loan also offers customers a level of financial flexibility that is practically unmatched in the market,” added Mr. R. Narasimhan.

The pre-requisite minimal documents for the Al Mumayaz Auto loan scheme has been made very customer friendly which can be complied easily by the prospective clients thereby giving an unique feel in availing the auto loan facility from the Bank.

Such services showcase Bank Sohar’s commitment towards customising products and services based on an in-depth understanding of customer’s needs and exceeding their expectations; thereby continually improving their overall banking experience. Aside from Auto Loan service, Bank Sohar also provides an array of other services and promotions under the Al Mumayaz brand including Savings Accounts, Term Deposits, Personal Finance, Home Finance, Educational Services, as well as various debit and credit card facilities.

The Bank has an extensive network of ATM’s totalling 50 machines across the Sultanate. In addition, Bank Sohar customers continue to enjoy the privilege of free-of-charge transactions in over 1,000 ATMs under the ‘OmanNet’ platform. Bank’s ATMs at Buraimi and Wajajah borders continue to operate with the ‘Dirhams Dispensing’ facility; thus adding immense convenience to businessmen who travel and transact business across the border on a regular basis, as well as to customers who visit the United Arab Emirates. The bank’s customers also enjoy the advantage of a Cash Deposit facility at all branch ATMs as another value-added service.

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Tuesday, June 17- 2014 @ 14:46 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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