June 15, 2024

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

oman bank
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.


Read more on banks:

The five top ten biggest banks globally having total asset valued at $5Trn Asset

UAE Core Values On Economical Financial Credit Positive For Banks

Moneycorp Bank doubles down on MENA footprint with latest VP hire



Lion’s Head Group rebrands to Cygnum Capital Group
Lion’s Head Group revamps to Cygnum Capital Group
Islam Shawky, Co-founder and CEO of Paymob, and Gaurang Shah, EVP of Products & Engineering, EEMEA at Mastercard. Image Courtesy- Mastercard
Paymob collaborates with Mastercard
Madayn launches 'Explore' platform to showcase available investment opportunities
Madayn unveils 'Explore' platform for investment opportunities
  • Tamkeen Insurance banner
  • International Assurance


Image used for representational purpose (Image by wirestock on freepik)
Commvault Appoints Ziad Aboumerhi As Country Manager Qatar to boost its Middle East Operations and Qatar's Cybersecurity Operations
360tf and Traydstream Alliance To Digitize Trade Finance Solutions  by supporting corporates in financing, saving time and money on document processing, and allowing them to focus on their core business
Danfoss Drives And Honeywell Partnership Boosts Automation Solutions