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Deferment of Instalment

WE ARE WITH YOU
IN YOUR TIME OF NEED

Are you directly affected by the recent Coronavirus Outbreak? Your financial wellbeing is a priority for us. So if you have availed financing from Bank Nizwa – and are finding it difficult to meet your financial commitments, we want to help.

1. RELIEF FOR DIRECTLY IMPACTED CUSTOMERS

As a Bank Nizwa customer, if you have been directly affected by the Coronavirus Outbreak through:

  • Loss of job,
  • Loss of pay / Involuntary unpaid leave / Reduction of salary,
  • Medical grounds for self and/or immediate family members, or
  • Any other related financial hardship

You are entitled to repayment deferral for a period of 6 months.

How can I apply?

  1. Download the form from here
  2. Fill in and sign the form (if you can not print the form you may handwrite it in any language)
  3. Email the form alongside the below mentioned required documents and ID card to [email protected]

Required Documents

Reason Documentation

Loss of job

Employer’s letter

End of Service Benefits credit in salary account

Loss of pay due to forced unpaid leaves

Employer’s letter

Payslip showing the reduction in salary

Permanent reduction in salary

Employer’s letter

Payslip showing the reduction in salary

Medical expenses due to self/ family sickness (1st blood /spouse)

Medical reports

Documents to establish the relationship

Any other reasons for financial hardship

Documents substantiating the cause

2. CUSTOMERS IN THE PRIVATE SECTOR WHOSE SALARIES ARE REDUCED/WITHHELD

Because we care for our customers, if you are among those whose salaries are reduced or withheld, you can avail a deferral on your Home, Auto and Personal Finance installments for up to 3 months, without any additional profit amount or extra charges.

How can I apply?

  1. Download the form from here
  2. Fill in and sign the form (if you can not print the form you may handwrite it in any language)
  3. Email the form along with your ID card and supporting documents from your employer to show salary reduction/withholding to [email protected]

FAQs

3. DEFERRAL REQUEST DUE TO CYCLONE SHAHEEN

How can I apply?

  1. Download the form from here
  2. Fill in and sign the form (if you can not print the form you may handwrite it in any language)
  3. Email the form along with your ID card and supporting documents from your employer to show salary reduction/withholding to [email protected]

FAQ

  1. What is this deferral

    Sir, lot of people have got impacted due to the cyclone which happened around 3rd October 2021 in Batina region.

  2. What deferral has Bank given

    Sir, Bank has given 3 months deferral on all finances (Home, Personal, Auto and Commercial Finance for salary individuals).

  3. Am I eligible for this deferral

    Sir, if you live in impacted areas in Batina region, then you are eligible for the deferral.

  4. Do I have to do anything for this deferral

    Yes sir, if you are impacted, you can print out the request form from www.banknizwa.om, fill it up and email it to [email protected]

  5. What is the effective date

    Sir, the deferral will start from October 2021 but this will depend when you will submit the request.

    If you give the request by 15th October 2021 the deferral will be October month and onwards.

    If you give the request after 15th October 2021 but by 1st November 2021 the deferral will be November month and onwards

  6. Cut off dates to get deferral
    • By 15th October 2021 -- deferral for October and onwards
    • By 1st November 2021 -- deferral for November and onwards
    • After 1st November 2021 – No request will be accepted.
  7. What is the period of deferral

    3 months

  8. What to do if I don’t want the deferral

    Sir, if you don’t want the deferral you don’t have to do anything. Your deductions will continue as it is and you will not get any deferral.

  9. What documents do I need to submit

    Sir, we need the following documents:

    • Request form
    • Copy of ID
    • Copy of utility bill (to verify customer’s
    • address)
  10. Will my EMI change

    In case of Murabaha deal the monthly instalment will not change. In this of Ijara and Diminishing Musharaka deal the monthly instalment will increase because of the deferral.

  11. What will be impact on my installment

    The impact will depend on the amount, months left for maturity etc.

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