Upfront T&C

• The minimum term for the scheme is 12 months.
• The maximum term for the scheme is 36 months.
• The minimum amount eligible for the scheme is 20,000 OMR.
• There is no maximum limit, provided the funds are new.
• Interest will be paid upfront on day 1 upon booking the deposit, and it will be credited to the OAB Savings or Current Account.
• A notice of 15 working days prior to pre-matured or closing; no interest will be paid during the notice period.
• No partial withdrawals of the deposit amount are allowed.
• In the case of pre-matured or closed deposits, the advance-paid interest will be deducted from the client-linked accounts as a penalty based on below:
• Penalty: 0-6 months: Recover full-paid interest on the principal amount.
• Penalty: 6-12 months: 2% p.a. less interest; recover the difference in paid interest from client-linked accounts or amounts.
• Penalty: >12 months: 1.5% p.a. less interest; recover the difference in paid interest from client-linked accounts or amounts.