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FAQs
 

Who is eligible to open a Growth Account?

Any person who is 18 years and below is eligible to open a growth account.

 

Why do I open a Growth Account?

If you open a Growth Account, you will be eligible to gain an annual interest of 1.5% paid monthly on minimum balance (up to RO 250,000)

 

If I only have RO 18,000 balance in my account, how much is covered under the life insurance scheme?

The life insurance scheme cover is up to RO 25,000. Any amount that is below that will be covered as per the account balance. For example, if you have a balance of RO 18,000 (below the limit of RO 25,000) you will be covered up to RO 18,000. However, if you have a balance of RO 30,000 (above the limit of RO 25,000) you will be covered up to RO 25,000

 

Can I withdraw the amount in my account anytime?

Yes. You can withdraw the amount in your account anytime through the following
  • ATM/FastBank network
  • OAB branches
 

Are there any charges/fees to the growth account?

If the account balance falls below RO. 100, an amount or 0.500 baizas will be deducted in that particular month