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Auto Loan
Sohar International brings you an exclusive Auto Loan offer designed to help you own your dream car effortlessly. With competitive interest 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—just in time for Ramadan!
Special Offer!
We are introducing the lowest Rate in the Market for Auto Loan starting from 3.49% for up to 1 years and exclusive 0.25% interest rate reduction for Electric Cars
Features:
Competitive Interest Rates – Starting from 3.49%*
Special discount on Electric Vehicles – Additional 0.25% interest rate reduction
Finance option available for both New & Used Cars
Available for Omanis & Expats
Against Salary assigned or with Mandate
Benefits:
Affordable & Manageable Repayments
Lower rates
Financing Available for Electric Vehicles
Fast & Hassle-Free Loan Processing
Documents required
Without salary transfer:
- Salary certificate.
- 6 months statement.
- Omani ID / Passport (for expats)
- Driving license.
- Vehicle Quotation (new vehicle)
- Car Evaluation (used vehicle)
With Salary Transfer:
- Salary Transfer letter as per Bank format
- ID/RESIDENT card
- Passport (for expats)
- Driving License.
- Vehicle Quotation (new vehicle)
- Car Evaluation (used vehicle)
Eligibility
- Omani & Expatriate Residents
- Minimum age: 18 years (Omanis), 21 years (Expats)
- Maximum age at loan 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
Interest Rate Details
| Tenure | Govt & Semi Govt |
|---|---|
| 0 to 1 years | 3.49% |
| 1 to 4 years | 3.99% |
| 4 to 5 years | 4.25% |
| 5 to 7 years | 4.50% |
| 7 to 10 years | 5.50% |
| Electric vehicles | 0.25% further reduction |
| Non Listed companies/ Non salary assigned cases | 0.50% addition |