The Growth Account offers a fixed interest rate of 1% per annum, credited monthly.
Yes, a fee of OMR 0.525 is charged monthly if the balance falls below OMR 100.
Yes, OAB provides online and mobile banking services, allowing you to manage your account, view statements, and perform transactions.
The Growth Account does not come with a debit card.
If the account remains inactive, a dormant account fee of OMR 2.100 is applicable.
Omani and non-Omanis holding OAB account
Growth Account T&C
To be bound by Oman Arab Bank General Terms and Conditions as amended from time to time (accessible on our website) and any other applicable rules and regulations as set out by the Central Bank of Oman or any other relevant authority.
A new savings account suffix will be opened in your name.
The agreed rates are subject to maintaining a monthly minimum balance of OMR 35,000 in the GROWTH savings account.
In case the balance falls below the minimum of OMR 35,000 at any day during the month, then
(i) No interest will be paid, and (ii) The interest calculation will default back to the account opening date.
The agreed interest rates are valid only for a 24-months period at the end of which, OAB may re-price the deposit as per the prevalent rates.
The agreed interest rates are subject to review by the Bank and additionally confirm my understanding that the Bank reserves the right to amend interest rates at its sole discretion.
Interest amount will be credited at the beginning of each subsequent month, calculated based on the minimum balance as per the rate table mentioned below.
The interest payment is based on the effective rate.
Interest rates for the first month tenor will be calculated based on the date of eligible amount deposited into the account not the account opening or calendar date.
all the rates are calculated on per annum basis.
