Muscat: Bank Muscat a leading private bank in Oman, has introduced an instant personal loan facility through its mobile banking application, allowing customers to apply for financing without visiting a branch or submitting physical documents.
The digital service enables eligible customers to obtain personal financing of up to OMR 15,000 with a repayment period extending up to 120 months. Designed for speed and convenience, the facility allows customers to complete the application process within minutes, with approved amounts credited directly to their bank accounts.
The new feature offers instant verification of eligibility and approval, along with simplified submission through one-time password confirmation. As part of the service, a credit life insurance policy is issued in partnership with GIG Gulf Insurance. Customers can also access full financing details and repayment schedules via the mobile application, while all documents generated during the application process are sent to the registered email address.
The instant personal loan facility is available to Omani customers employed in ministries and government agencies. Applicants must be between 18 and 60 years of age and have a minimum monthly salary of OMR 250 transferred to Bank Muscat for at least the previous three months.
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