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Bank Muscat’s Sayyarati auto financing option witnesses huge turnout

Customers can now benefit from the offer by applying for the “Sayyarati” loan financing product online through the Bank’s Internet Banking and Mobile Banking Application.

TAS News Service

Monday, April 1, 2024

MUSCAT : The appealing Sayyarati Auto Finance promotion from Bank Muscat, the leading financial service provider in the Sultanate, witnesses huge turnout from customers wishing to own dream vehicles. The promotion came with the best rates in the market during the holy month of Ramadan, starting at 3.75 per cent on both new and pre-owned cars for Omani nationals and expatriates. With this year’s “Sayyarati” offer, customers may start paying after 2 months of loan disbursal. It must also be noted that Sayyarati has some of the best interest rates in the country including 4 per cent for a period up to 2 years and 4.25 per cent for loan tenors of 3 years and 4.5 per cent for a 4 year loan tenor. Customers can now benefit from the offer by applying for the “Sayyarati” loan financing product online through the Bank’s Internet Banking and Mobile Banking Application.

Bank Muscat is constantly keen to keeping pace with the latest developments in the banking sector to meet the recent needs of customers, while ensuring that customers enjoy attractive offers to obtain their dream vehicles. Bank Muscat has successfully enhanced collaboration with different auto-mobile agents, dealers, and vehicle centers. Based on its customer-centric vision “To serve you better, everyday”, Bank Muscat exerts efforts to make the purchase process as smooth as possible through the facility-packed and various financing options provided to customers.   

The special rates are available for Omani individuals employed in government, quasi – government, Tier 1 and Teir 2 companies and expatriates individuals employed in government and quasi-government institutions as well as Tier 1 companies. The “Sayyarati” financing product features multiple advantages including enabling customers to apply for a loan up to OMR 60,000 for both new and used vehicles, a tenor up to 10 years for Omani nationals, and free third-party insurance in case of pre-owned car financing.

Customers may apply for “Sayyarati” financing loan online via Bank Muscat’s Internet Banking and Mobile Banking platforms or by visiting the nearest Bank Muscat branch or Sayyarti Centers in Wattayah and Salalah, where a dedicated team from sales are available during the week from Sunday to Thursday in the morning from 9:00 am until 1:00 pm and in the evening from 8:15 pm to 11:15 pm to assist customers in processing their loan requests. Further to this, a mobile truck is available at the used-car centers in Maabaila to attract customers, backed with a dedicated sales team to serve them and make them benefit from the offering that will be valid until the end of the holy month. A mobile bus will also be available at pre-owned and smaller dealers in Sohar for processing customers’ auto loan applications. For quick processing and fast loan disbursement, customers may submit all necessary relevant documents as soon as they request for a financing loan with the assistance of the sales team, including the ID card for Omanis, passport for expatriates, salary assignment letter, quotation /car valuation from the approved valuator, driving license, Mulkiya (for pre-owned cars only) and seller’s ID card (for pre-owned cars only). Alternatively, customers could apply for a financing loan from the used-car dealers while they may submit the necessary documents later. The sales team shall visit customers’ homes to pick up the documents after doing the necessary coordination. The monthly loan installments are automatically deducted from the customer’s account once the mandate to do so is provided to the Bank.

As the leading financial services provider in the Sultanate for the last four decades, Bank Muscat has the largest banking network in Oman with 147 retail banking branches and over 850 ATMs, CDMs and multi-use machines distributed across the Sultanate. Customers can also visit the nearest branch, Sayyarti Centres in Wattayah and Salalah, or request Saed direct sales agents for more information and to apply for a loan. For more details regarding Sayyarati loans, please go to