Frequently Asked Questions

Auto Loans

Auto loans are for purchase of new and used cars

Submit the required documents in 2 above in any of the branch networks.

Minimum down payment of 20% for individual auto loan customers.

1 working day subject to submission of all required documents.

1 % of the Principal Loan outstanding at the time of closure.

Minimum Age – 18 years, Maximum Age – 60 years (at the time of submission of application)

After full and final settlement of all dues on the loan, a release letter addressed to ROP is handed over to cancel the Joint Registration.

Delay payment charges, Cheque bounce charges as per rates prevailing.

Payment through Post-dated cheques, Payment through Debit cards, through mobile application and direct transfers to Bank accounts of the company.

1 % of the Principal Loan outstanding at the time of closure.

After settlement of entire loan outstanding, a copy of valid ID card of the applicant/vehicle owner and copy of Mulkhia of the vehicle. There are no charges for clearance letter.

As per prevailing terms and conditions.

96 months subject to maximum age of vehicle to be assessed at the time of submission of application.

1 working day subject to submission of all required documents.

Such early settlements are treated a pre-closure.

Customer Service Representative at respective locations.

As per outstanding balance including pre-closure charges.

The Mobile application is undergoing an upgrade and this facility will soon be available.

Letter issued by Customer Service desk and this facility will be soon being available in Mobile Application.

Generally, this letter is issued at Head Office immediately with minimum waiting period. If the letter is to be issued in branches it takes 1 working day.

Individual Loans

Latest Salary Certificate, 3 months bank statements, valid ID copy (nationals), valid Passport copy with visa page (non-nationals), Proforma for Household appliances/furnishing.

66 months (5 ½ years).

RO 500.

You can approach the nearest branch in your region. In future, all loans can be applied through our mobile app which is currently under renovation.

Time frame to process the loan application is one working day, subject to the availability of pre-approved documents as mentioned in the point no:1.

Yes, there are charges for an installment deferral which is a variable amount from time to time.

Instalment deferral requests are accepted 1 day before the actual due date and the same would be processed immediately.

Loan Foreclosure or early settlement option is nothing but the full & final settlement of the liability.

Necessary due diligence would be carried over at the time of early settlement through cash.Terms & conditions apply.

Presently customers can approach the Customer Service Desk at our branches. In future, all foreclosure / early settlement requests can be applied through our mobile app which is currently under renovation.

For all foreclosure / early settlements there is 1% pre-closure charges would be applicable on the principal outstanding amount at the time of closure of liability.

Foreclosures requests are normally processed on the same day provided the required amount is credited in the company’s account.

Based on the requirement of the loan borrower, the requests can be processed by our Customer Service Representatives.

Presently customers can approach the Customer Service Desk at our branches. In future, all requests can be applied through our mobile app which is currently under renovation.

Both are same.

No charges. Its free of cost.

One working day.

Presently customers can approach the Customer Service Desk at our branches. In future, all requests can be applied through our mobile app which is currently under renovation.

The letter can be collected from our customer service desks available in the branches.

No validity

Customers can contact the customer service representative and request for the redeposit of the instalment cheque. Also, payments can be made through our branches.

Full & final settlement of the entire loan liability.

Yes, it’s possible.

Presently customers can approach the Customer Service Desk at our branches. In future, all requests can be applied through our mobile app which is currently under renovation.

Corporate Deposit

A Corporate Deposit is like any other deposit made with any bank. However, as the name suggests the Deposit can be made only in the name of the Company and not in individual names.

All Deposits should be only in Omani Rial .

No. Deposits can be made either by transfer of funds to Taageer’s account or through Cheque/Pay order favouring Taageer Finance

As per CBO guidelines, the minimum deposit is RO 10,000 and there is no maximum size of the deposit.

The minimum term of deposits is 6 months and the maximum term is 5 years.

Minimum Age – 18 years, Maximum Age – 60 years (at the time of submission of application)

Interest payment options for deposits can be Monthly, Quarterly, Half Yearly, Yearly, and on Maturity.