Pursue your academic ambitions with Al Mumayaz Education Services

Muscat: Bank Sohar is committed to providing the best financial solutions for Omani youth pursuing higher education, through its Al Mumayaz Education Services.
The product provides customers loans up to a maximum of OMR35,000 for a tenor of 10 years ensuring hassle-free financing. It also includes added benefits such as a grace period of 12 months while students are looking for suitable employment.
Emphasising on the Al Mumayaz Education Services, Rajeev Arora, DGM and head of Retail Banking at Bank Sohar, said, “We are always striving to create products that add value to our customers and align with their specific requirements. Al Mumayaz Education Services is an example of how we provide the means for Omani youth to pursue their academic ambitions. The facility reflects the bank’s commitment towards offering reliable financing solutions to assist aspiring youth with costs of learning such as tuition fees and the like.”
The loan enables fresh high school graduates wishing to complete their studies as well as employed citizens to pursue higher education or college programmes within Oman or abroad. Students can avail themselves of a maximum loan value up to the amount of OMR35,000 depending on their respective course specialisation and eligibility. The finance amount aims to cover full expenses including course fees, accommodation, travel expenses and other related education expenses incurred. The entire loan amount is approved upfront for the duration of the course, giving applicants an easy and worry-free financing option.
Interest is only applicable during the study period and is fixed at a marginal percentage, which eases the burden of repayment. Additionally, the loan also covers higher education consultancy services such as advisory services, administrative support for college placements and overseas education guidance. The loan is also eligible for employees in the private sector companies in any of Bank Sohar’s approved list of companies.
“Al Mumayaz Education Services is designed to find financial solutions for students who wish to complete their studies and who wish to invest in themselves to ensure a better future. This is in addition to our other market leading products such as the Al Mumayaz Savings Scheme, Al Bait Al Mumayaz Home solutions, Al Mumayaz Auto Loan and many other products offered by the bank to its customers,” added Rajiv.