Oman Arab Bank increases instant digital loan limit

By Leandra Monteiro

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 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 a 120-month repayment plan depending on their age. They have the flexibility to choose Eid waivers and/or a one-month grace periods, when necessary.

Oman Arab Bank SAOC was established in 1984 following the acquisition of Arab Bank’s branches in the Sultanate. Over the past three decades, the Bank has consistently expanded its reach as well as its products and services offering to provide customers in the country with a comprehensive suite of innovative solutions in Retail banking, Corporate and Project finance, Investment banking, trade finance and most recently, Islamic Banking.