Islamic Retail Banking Products
Al Yusr Auto Finance

Auto Finance you can trust

With Al Yusr Auto Finance, you can avail financing up to 80% of the value of your car purchase with a tenor of up to 8 years. At the same time, you can rest assured that the arrangement is entirely Shari`a complaint and endorsed by a panel of respected Islamic scholars. It is auto finance you can really trust.


 

How does it work?

We have designed Al Yusr Auto Finance based on two well-known Shari`a concepts: Murabaha and Ijarah.


 

Features and benefits of Al Yusr Auto Finance

  • New and used car financing with a competitive rate of 4.45%
  • Attractive rates for financing takeovers from other banks and leasing companies
  • Fast processing – Within 1 working day* you will drive the car home
  • Maximum financing tenor up to 8 years
  • Financing up to 80% of the car`s value
  • No Maximum financing amount subject to compliance of DBR
  • Available for any nationality
  • Service at your doorstep – you call and our representative will visit you
  • Offer valid until 31 August, 2015

*Subject to receiving all the required and duly completed documents from you within our cut-off time

Eligibility

Age Requirement

  • Minimum age of 18 years at the time of application
  • Maximum age of 60 years at the end of facility

Income (Salary) Requirement

Omani Nationals

  • Special offer for Government sector employees
  • Monthly salary requirement – RO 300 (minimum) for private sector employees
  • Monthly income requirement – RO 500 (minimum) for Businessmen and self-employed professionals

Non-Omani Residents

  • Monthly salary requirement – RO 400 (minimum) for private sector employees
  • Monthly income requirement – RO 600 (minimum) for businessmen and self-employed professionals
Documents Required
  • Copy of valid ID / Passport (Omanis)
  • Copy of valid passport with valid Visa and copy of a valid Resident Card (expatriates)
  • Address proof (copy of utility bill)
  • Quotation in favour of Al Yusr, Oman Arab Bank from the dealer of the vehicle
  • Information Discloser Form
  • Valuation report from authorized car dealers (for used cars)
  • Certificate of outstanding loan / finance (for balance transfer)
  • Last six month`s bank statement
  • Copy of a valid driving license
  • Car Takaful / Insurance
  • Mulkiya (registration) copy
  • For Salaried customers:
    • Original salary certificate from the employer addressed to Al Yusr, Oman Arab Bank
    • Salary transfer letter from the employer to Al Yusr, Oman Arab bank.
    • Undertaking from the employer to transfer the "End of Services Benefits" to the salary account maintained with Al Yusr, Oman Arab Bank
To apply call 24 754 666

Terms and conditions apply

Our branches: Wattayya 2475 4279, Salalah 2475 4723, Nizwa 2475 4981, Falaj Al Qabail 2475 4877, Ibra 2475 4840