Child Savings Account
Save for a brighter future
Start saving early for your children and secure their future.
- • Flexibility on your savings: OAB’s Child savings plan can help you decide how much you can afford to save for your child each month starting from as low as RO 10 to a maximum of RO 500. You can amend the monthly deposit anytime without any charges.
- • High Interest Rate*: Your child will benefit from a competitive interest rate of 2.25% per annum on the monthly deposit balance.
- • Free Life Insurance: With OAB you can rest assured that your monthly payments into your children’s accounts will continue under the complimentary life insurance scheme, which covers up to OMR 50,000 in case of any unforeseen incidents that may occur to the parent.
- • Hassle Free Savings Plan: You can easily set up a monthly debit instruction -free of charge- once you open the account, which will automatically debit your main account and transfer the specified amount to your Child’s savings account for the duration of the plan. When your child turns 18, the savings will automatically be transferred to a Youth Savings Account in your child’s name.
*The interest rate is subject to change as per market conditions. Terms & Conditions apply