العربية

Oman Housing Bank​

The Iskan program is a subsidized Housing Finance Initiative by Oman Housing Bank that enables eligible Omani citizens to obtain Housing Finance through participating commercial banks.

Key Features
  • Available once in a lifetime.
  • Up to OMR 60,000 for residential property in Oman.
  • Up to OMR 80,000 for eligible residential units in integrated city projects approved or implemented by the Ministry of Housing and Urban Planning.
  • Subsidized profit rate based on the applicable income bracket.
  • Subsidy provided under the Iskan program through Oman Housing Bank.

Eligibility
  • Omani citizens who meet Oman Housing Bank eligibility criteria and are registered on the Oman Housing Bank waiting list.
  • Applicant must receive a minimum salary of OMR 250.
  • Applicant must be married.
  • Applicant and spouse must not own a house or have previously benefited from subsidized Housing Finance, subject to relevant declaration/approval requirements.
  • Application remains subject to Meethaq Islamic Banking’s credit policy*.

*Terms and conditions apply.

Profit Rate

Based on the applicable income bracket.

Fees & Charges
Description Total Amount (with VAT)
Processing fee OMR 52.500
Pre-payment fee 1.05% of the outstanding principal
Takaful Admin Fees 0.053% of the total finance amount, subject to minimum of OMR 5.250, and maximum of OMR 78.750
Late payment fees (Obligation to donate) 1% p.a. on the outstanding amount
Maximum Tenure

Up to 25 years (300 months), subject to the Bank’s credit policy and the applicant’s age at finance maturity.

Important Notes
  • To apply, please visit Iskan platform Iskan.ohb.co.om and choose Meethaq Islamic Banking.
  • Final approval is subject to Meethaq’s credit assessment and document verification. The final approval process will be completed at the branch following your visit and submission of all required documents.
  • If customer does not meet the bank’s credit criteria, the application may be declined.
  • Prepayment and late payment charges will apply where applicable.

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