Sohar Islamic offers up to 80% housing financing

Muscat: Sohar Islamic, Bank Sohar’s dedicated Islamic banking window, provides up to 80% financing and tenures extending to 25 years under its construction and housing finance product category.
As with all its other financial services that embody strict adherence to Sharia norms, the Islamic banking window’s products in this category offer fully Sharia-compliant solutions to housing finance. The suite of products is specifically developed to uphold core principles and values of customers, reflecting the Islamic banking window’s commitment to providing highest levels of excellence in product research and development.
Commenting on a range of products and services, Salim Khamis Saif Al Maskry, DGM and head Sohar Islamic said, “We understand that owning a home is an important and carefully planned decision for anyone’s; often it is the biggest investment of their lives. We also know that it is important for them that the financing they choose complies with their principles. Our products and home financing solutions meet these standards and are developed after extensive, thorough research to ensure that customers get only the best and most reliable solutions.”
The home financing solutions from Sohar Islamic enables customers to purchase residential property under construction or ready for occupation. It awards preferential profit rates with an instalment deferment option. Customers can also avail of the facility to take over.
A number of benefits accrue to customers such as waiving of pre-payment charges if the capital is repaid after one-third of the tenure, bundled solutions that include pre-approved auto-finance limit and co-financing or joint customer facility.