BENEFITS
Grow Your Savings
Enjoy receiving monthly interest payments on your transactional account and watch your deposit grow and protect it at the same time.
Flexibility on your savings: OAB’s Child savings plan can help you decide how much you can afford to save for your child each month starting from as low as RO 10 to a maximum of RO 500. You can amend the monthly deposit anytime without any charges.
High Interest Rate*: Your child will benefit from a competitive interest rate of 3.5% per annum on the monthly deposit balance.
Free Life Insurance: With OAB you can rest assured that your monthly payments into your children’s accounts will continue under the complimentary life insurance scheme, which covers up to OMR 50,000 in case of any unforeseen incidents that may occur to the parent.
Hassle Free Savings Plan: You can easily set up a monthly debit instruction -free of charge- once you open the account, which will automatically debit your main account and transfer the specified amount to your Child’s savings account for the duration of the plan.
Our Services
Enjoy Our Services
Receive eStatements and eAdvices on your account savings
“Fil Khidma” Call Center available 24 hours a day.
Utility bills payment through our ATMs, call center, OAB Online application and branches.
Eligibility
- Parent/Guardian: Must be between 18 and 64 years old.
- Child (Beneficiary): Must be under 18 years old.
- Residency: The parent/guardian should be a resident of Oman.
Documents Required
- Child’s Civil ID: Valid identification for the child.
- Parent/Guardian’s Civil ID: Valid identification for the parent or guardian.
- Contact Information: Mobile number and email address.
- Preferred Branch: Selection of the OAB branch where you wish to open the account.
Help and Support
We Are Here to Help
A: If you miss a contribution, the account remains active. However, the maturity amount will be adjusted to reflect the missed contributions and any associated interest.
A: Yes, 7 days' notice for partial or full withdrawal, with no interest paid during the withdrawal month. Early withdrawals only permitted through branches.
A3: Yes. The minimum monthly contribution is OMR 10, and the maximum is OMR 500. You can adjust your contribution amount by submitting an amendment form through the available channels.
A4: The interest rate is specified in the account opening form and is subject to change based on market conditions. OAB will notify you in writing at least 60 days prior to any changes.
No Forms available.
No Important Information available.
No Contact Us available.
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