June 15, 2024

OAB releases digital instant loan with increased limit of OMR 25,000

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Oman Arab Bank Headquarters building. Image Courtesy: Oman Arab Bank

Oman Arab Bank (OAB) customers can now apply for an instant loan through the OAB Online app, with an increased limit of OMR 25,000, available either on new loans or when topping up an existing loan. Around the clock, customers can apply from the comfort of their own homes or on-the-go and it takes only a few minutes to complete, with fast automated approval. Once approved, the funds are deposited into the customer’s bank account within minutes.

Rashad Al Sheikh, Head of Retail Banking at OAB

Rashad Al Sheikh, Head of Retail Banking at OAB, said: “This fast, secure, reliable and user-friendly solution is the latest step in our commitment to providing advanced digital services to our customers. Our OAB Online app is spearheading the charge for innovative solutions, and this new offering is the latest testament to our commitment to providing exceptional digital services.”

As for repayment, customers can choose up to 120 months repayment plan depending on their age. They have the flexibility to choose Eid waivers and/or a one month grace periods, when necessary.

The OAB Online app can be downloaded from the Apple App Store and Google Play Store.

Source

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