Hi, does anyone having an experience of getting a personal loan in Oman, which bank is easier to get loan, as a foreigner is it easier to get loan or not.
Personal loan in any bank
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If you're a direct hire, it would be easier for you. You can apply to the bank where your salary is being credited in to.
But if you work as an outsource, you have to make sure that your local sponsor/employer is part of the bank's approved list of employers. Hence, it's going to be impossible for you to secure a loan or even credit card even though you have a high salary.
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@redymasa09 hi,thanks for reply, did you personally applied for a loan and that got approved ,or you get this info from some other source
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I did apply and I'm an outsource and my local sponsor is not part of the bank's approved list.
Some bank's website would immediately ask for your employer's name or they would ask you once they called you. They will check their list and if employer is not there, they would tell you that you're not qualified for a loan. This is also the same thing with financial institutions such as Tageer Finance, national finance etc. i think for national finance, you can avail provided that you have an Omani guarantor.
Also, aside from loans you cannot also get a credit card unless the application is against your deposit on the bank. Normally, 90% of the held amount will be your credit card limit
Sample/ you will deposit 1000 OMR to NBO. They will hold that amount. Meaning, it's non-withdrawable.
And only 900 OMR will be your credit card limit
It doesn't make sense to me but if you love travelling and shopping, credit card perks may benefit you like discounts and airport lounge.
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