Home Finance

Home Finance you can trust

The purchase of a property is probably the largest and most important investment you'll make. But how can you finance your dream home while still ensuring you are true to your Islamic-values?

Al Yusr Home Finance has been approved by a panel of respected scholars. It is based on the well-known Shari'a concept of Diminishing Musharakah (Musharakah Al Mutanaqisa) – a form of partnership in which one partner (the customer) promises to buy the equity share of the other partner (Al Yusr) gradually. Eventually the title to the equity is completely transferred to the customer. It is home finance you can really trust.

How does it work in?

You will form partnership with Al Yusr and we will appoint you as our agent (wakeel) to identify and purchase the property on our behalf. We will provide the larger share of the equity – for example 80% of the purchase price. You will provide the remaining 20%.

Once the property has been purchased, we will lease the property for you to use, against periodic instalments. Our equity in the property will be gradually purchased by you over the financing period and at the end of the term of contract, you will own the property completely.

Al Yusr Home Finance will be offered for all categories: including ready property, property to be built, property renovation and extensions and transfer of existing finance/loans to Al Yusr Home Finance.

  • Financing up to 80% of the property value
  • Maximum finance amount as follow:
    Working Sector Omani Expatriate
    1. Gov, Semi Gov, Quasi Gov, Group A and B RO 500,000 RO 300,000
    2. Group C and Non-Salaried RO 300,000 RO 300,000
  • Minimum finance amount is RO 10,000
  • Maximum finance tenor up to 25 years(Omanis)and 20 years(Expatriates)
  • Minimum finance tenor in 1 year(Omanis) and 3 years(Expatriates )
  • Finance available for ready property, property to be built, property renovation or extension
  • Balance transfer facility from existing home finance/loans from other banks
  • Available to salaried customers
  • Attractive pricing
  • Available for any nationality**
  • Transparent and fast processing
  • Grace repayment period* applicable to properties to be built (under construction) for a period up to 18 months

**Expatriate residents will be granted the financing in the designated Integrated Tourism and Residential Complexes (ITCs)

To apply and for more information,Please call Al Yusr(24*7) Call Center on +968 24 754 666

*Terms and conditions apply

Age Requirement

  • Minimum age of 21 years at the time of application(Omanis) and 24 years(Expatriates)
  • Maximum age of 60 years at the end of facility and 65 years for Omani pensioners

Income (Salary) Requirement

Omani Nationals

  • Monthly salary requirement – RO 500 (minimum) for Government, Semi Government, leading private sector (A,B and C grade companies) employees and pensioners.

Non-Omani Residents

  • Monthly salary requirement – RO 1,500 (minimum) for Government, Semi Government, leading private sector (A, B & C grade companies) employees.

Documents Required

  • Copy of valid ID / Passport (Omani)
  • Copy of valid passport with valid Visa and copy of a valid Resident Card (Expatriates)
  • Address proof (copy of utility bill)
  • Information Discloser Form
  • Valuation report from the approved valuation companies
  • Certificate of outstanding loan / finance (for balance transfer)
  • Last six month’s bank statement
  • Life Takaful / Insurance
  • Property Takaful / Insurance
  • Copy of title deed / Mulkiya / Krooki / Building completion certificate / any other relevant property related documents
  • Construction contract with the developer / constructor (for property to be built, renovation or extension of the property)
  • For Salaried customers:
    • Original salary certificate from the employer addressed to Al Yusr, Oman Arab Bank
    • Salary transfer letter from 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