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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

CBO clarifies on personal, housing loans

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The Central Bank of Oman (CBO) has stated that the maximum deduction percentage from the salary for a personal loan is 50 percent and 60 percent for a housing loan.

The bank added that the shorter the loan term, the lower the interest rate. Deferring installments means an increase in the interest rate and a longer loan term


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