MUSCAT: Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, in step with the bank’s vision ‘To serve you better, everyday’ has launched an attractive vehicle finance coinciding with National Day celebrations. The special Meethaq auto finance is available at 4.9 per cent annual profit rate. The limited period offer is valid from November 1 till the end of the month.
The Shari’a-compliant Meethaq auto finance is based on the concept of Murabaha wherein the cost of vehicle and profit is disclosed to the buyer. Meethaq purchases the vehicle on behalf of its customers and sells it to them at the cost plus agreed profit.
The exclusive benefits of Meethaq auto finance include financing up to 80 per cent of the value of vehicles and repayment tenure up to 8 years. Financing is also available for purchasing used vehicles. An added advantage is that the bank does not charge any processing fee and offers competitive pricing. With minimal documentation and fast processing, the Meethaq car finance is available for citizens and residents at all Meethaq branches.
Meethaq customers can also enjoy the benefit of Comprehensive Motor Takaful or Third Party Motor Takaful at very competitive rates and several value-added benefits like free Personal Accident Cover for up to 7 passengers, free UAE Cover, free dealer repair during the first year of registration, dealer repairs for up to 3 years from the vehicle’s first registration at a nominal additional cost as well as comprehensive cover for vehicles that are up to 7 years old.
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