Steps to Follow
Choose the items you desire
Ask the store’s staff to help you submit the application to your preferred bank.
Receive the Bank’s decision instantly within 20 seconds.
Sign the finance agreement and enjoy your items
IFIN - Frequently Asked Questions
A digital platform that helps customers submit their finance
applications to their bank online without leaving the store. They can
know the bank’s decision about the application instantly (within 20
seconds).
Yes, all products and processes offered through IFIN follow Shariah
principles and are Shariah compliant
The process usually takes about 10 minutes (from application submission to signing the legal agreement). The bank’s decision however is usually received within 20 seconds.
Most banks are offering to finance both Omani’s and non-Omani’s through IFIN.
All you need is your ID Card (National or Residential) and your phone number that is registered with your bank.
No. You do not need to use any debit or credit card.
Takaful is Islamic insurance. It’s a mandatory requirement from the regulators to have life Takaful/insurance for all customers obtaining finance (conventional or Islamic).
This fee is charged by some banks as they arrange for your life Takaful/insurance cover with the relevant Takaful company on your behalf (it is a service fee).
You do not need to pay any fees to IFIN. The only fees you need to pay are the bank’s fees.
No. IFIN facilitates Islamic personal and auto finance products, which naturally include certain profit amounts specified by the bank.
Financing terms vary from one bank to another. You will be able to see the exact detail of the financing when you start the application. It is worth mentioning that banks will charge a certain amount of profit on the items’ price (it is not 0% finance).
Sure. You can select the finance tenor that suits you best for you while applying. Please note that if you increase the finance tenor, your monthly installment will decrease and vice versa. You should the relevant tenor prior to submitting the application to the bank.
Each bank has its own business and credit criteria. If you meet all of the criteria specified by the bank you selected, the application will be approved. Otherwise, it will be referred to the Bank’s staff to be looked at manually.
If your application is referred, please contact the bank to know the reason of referral and take necessary actions as requested by the Bank. Once the application is approved, you will need to come back to the store to sign the finance documents and conclude the finance process.
Usually, retailers offering this service display IFIN logo in their stores. However, if you are not sure, please check with the retailer’s staff or contact your bank.
Depending on the products offered by your bank, you can use IFIN to finance cars, electronics, furniture, building materials, education, travel etc.
You can cancel the application at any time before you sign the finance contract. Once the finance contract is signed and finance is completed, you cannot cancel.
The bank that you obtained the finance from will take relevant procedures as per its own policy. Make sure to check with your bank regarding this.
You can contact IFIN on WhatsApp (+968 9398 4971) and email info@ifin-services.com