Omani Nationals

* 1% pre-payment or early repayment fee is charged.
* No deferment of loan installment is permitted.
* Interest rates vary depending on the market conditions.

Eligibility

1. The applicant salary should be a minimum of OMR 300
2. The applicant should be
   • A permanent employee of the Government of Oman.
   • A permanent employee of Semi-Government establishments of Oman
   • An employee working in the private sector listed with BankDhofar
3. A third party guarantee letter from a guarantor who is a Government / Semi-Government Employee is required
   • If the employee is in the list of Bank approved employers, but drawing a salary below OMR 500.000
   • if the employer is not in the list of Bank approved employers
4. The applicant can not be under 21 or over 60 years of age at the time of the maturity of the loan. An extension of 65 years is given to those under the employment of ROP, Defense and Diwan.
5. The applicant should hold three years of service with a minimum of 6 months with their current employer.
6. The Applicant should not be blacklisted with BankDhofar or Central Bank of Oman (CBO) caution list or CBO BCSB classification list.
7. Incase of joint loans - separate loan eligibility will be calculated, however, security of the property will be common.
8. The property to be purchased should not be more than 10 years old.

Documents Required

1. Copy of valid I.D
2. Latest salary slip and salary certificate
3. A salary assignment letter from the employer addressed to the Bank.
4. Liability letter from the Bank to which the applicant’s salary is assigned.
5. Bank statement for the last six months (stamped and certified, if not on bank’s letter head)
6. Registration of a legal mortgage over the property with Ministry of Housing, in favor of the Bank
7. Assignment of rental income, if any
8. Property evaluation report from an evaluator approved by the bank
9. Copy of an approved drawing of the property
10. Construction agreement with mode of payment duly signed by the customer, contractor and consultant.
11. Construction agreement should contain delay penalties and deduction of 5% from each payment (retention money). This amount will be released to the contractor after one year of completion of house. No advance payment allowed
12. BCSB report with classified accounts, in case of joint account
13. Copy of the title deed – (Mulkiya and Krooki)
14. Building permit
15. Copy of marriage certificate for married couple applying for a joint loan
16. Two passport size photos

Apart from above, other requirements are:

18. Life insurance covering the loan amount in favor of BankDhofar
19. Property insurance over the house in favor of BankDhofar

Documents required from the contractor

1. Certificate - Oman Chamber of Trade & Commerce
2. The commercial registration (CR) certificate
3. Copies of laborer’s ID cards
4. Tender board certificate for first class contractors
5. Letter from the consultant supervising the project
6. Contractor's Signature Form 

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