Savings Account

The Easy Way to Save!

Our savings accounts serve as the basic tool when it comes to investing and growing your funds with the principles of Mudaraba and earn returns on the principle of profit sharing, while you can enjoy the benefits of everyday banking.

Key Features

Sharia compliant product based on the Sharia concept of Mudaraba.
No restriction on the number of transactions
Instant issuance of debit cards through ITM machines or through any of our branches.
Profit is calculated based on the monthly average balance and credited to your account quarterly
Standing instructions
Pay orders
Local and international remittances
Free Periodic account e-statements
Free Debit card for the first year
Customers can operate their Accounts in various major currencies of their choosing, these include OMR, AED, EUR, GBP, and USD.

Carry out all the banking transactions using the Bank’s e-channels such as: ATM/CDM, POS Machines, Mobile Banking and Internet Banking.
Cash withdrawal and deposit over the counter
Access to our 24-hour call center.
Cash withdrawals, deposit & balance inquiry services for individual account holders locally and internationally.
Utility payments conveniently through various electronic channels.
Apply easily directly through Mobile Banking, or at any of our branches spread across the Sultanate
No hidden charges.
Transaction alerts
Exclusive offers & discounts

Eligibility Criteria

Any Omani citizen or resident (single or joint) above 18 years of age.
In case of minors, legal guardians can open the account

Fees & Charges

No.	Fees and Charges	Charges + VAT
1.	Ledger Fee (Minimum Account Balance)	Account purpose to receive pension or other social support allowance being granted by the Government / Salary less than RO 200 If account Balance falls below RO 200
2.	Account Closure Fee (within 1 year of opening)	RO 3.150
3.	New Debit Cards	FREE
4.	Supplementary Debit Card	RO 2.100
5.	Replacement Debit Card	RO 2.100
6.	Cash Withdrawal Nizwa Network Within (Omannet)	FREE
7.	Annual Fee - Primary / Supplementary Card	RO 1.050
8.	Cash Withdrawal Bank ATMs Within Oman (Omannet)	RO 0.105
9.	Segment Non Maintenance Charges	Privilege Banking - RO 5.250 Wealth Management - RO 10.500 Private Banking - RO 21.00

Requirements

Local ID (Omani Nationals)
Resident ID and Passport with Visa page (Expatriates)
Passport or Country ID (GCC Nationals)
Application form
Proof of address (for non-resident customers)
Complete the full Common Reporting Standard (CRS) section in account opening form.
FATCA – W9 Form (for USA nationals, US Tax resident and Green Card holders)
FATCA – W8BEN Form (for customers with a USA address or telephone number or for customers making outgoing payments to the USA)

FAQs

What is a Saving Account?
Bank Nizwa savings accounts serve as the basic tool when it comes to investing and growing your funds with the principles of Mudaraba. You can earn returns on the principle while enjoying the benefits of everyday banking