Savings Account

The future holds plenty of promise, and a Savings Account from Sohar Islamic ensures you make the most of every moment. Supervised by the high profile Shariah Supervisory Board, it helps you enjoy the benefits of a banking solution, in line with your values, that facilitates you to plan for you and your family’s future. Prepare for a future worth enjoying, with a Sohar Islamic Savings Account, just one part of our commitment to provide the highest levels of excellence in everything we do.

Features

• Shariah Compliant product based on Mudharba Transactions
• No Minimum balance requirement
• Profit credit in the account on monthly
• Profit is calculated on monthly average available balance
• Multiple currency option available to open the account
• Accessibility through:
  • Sohar Islamic branches
  • Cash Deposits and Withdrawals
  • Issuance of Pay Orders/Demand Draft
  • Remittances
  • Cheque Withdrawals & Deposits

Eligibility 

• Available for Omani nationals and residents.
• Adults aged 18 years and above may open the account independently.
• Minors may open the account through a parent or legal guardian.
• Valid ID and proof of address are required.

How to Open the Account

• Visit a Sohar Islamic branch or apply digitally.
• Submit the required documents.
• Complete and sign the account opening form.
• The account will be activated after approval.

Terms & Conditions

• The Savings Account is Shariah-compliant and based on Mudaraba.
• No minimum balance is required unless otherwise advised by the Bank.
• Profit is credited monthly and calculated based on the monthly average available balance.
• Profit rates may change from time to time at the Bank’s discretion.
• The account may be opened in multiple currencies subject to Bank approval.
• The customer must keep personal details updated.
• The Bank may close the account in case of misuse or breach of terms.
• Digital account statements are issued free of charge.