Please be informed that every commercial bank or financial institution will have its own lending policy and terms and conditions for evaluation of a customer loan request. CBO, as the regulatory authority of the banking sector in the country, prescribes basically two conditions, as listed below, which all the licensed banks and financial institutions are expected to comply:
a) The maximum tenor of your personal loan cannot exceed 10 years. b) Your monthly loan repayment
instalment should not exceed 50 percent of your net salary. For example, if
you net salary is RO 1000, your monthly loan repayment instalment cannot be more than RO 500, and this ceiling applies to all the loans put together. This means if a customer has any other loan apart from personal loan, all his / her instalments put together should not exceed the 50 % limit, including loans from other institutions.