Bankdhofar provides varied saving solutions

Bank Dhofar provides multiple savings options with the aim of improving customers’ financial plans, which achieves unparalleled lucrative returns on their investments.

The bank has designed a Recurring Deposit Account as a powerful and flexible savings tool to meet the financial needs of customers and their future aspirations to achieve competitive returns and sustainable growth for their money, a press release said.

The Recurring Deposit Account from Bankdhofar is characterised by unique benefits for customers from all segments of society, especially for those who are looking for reliable and rewarding financial solutions, as the account allows the commitment to deposit small amounts of money, starting from 0.500 baizas, in order to achieve higher returns than a regular account. In addition to the flexibility to pay on a daily, weekly, or monthly basis, with an interest rate of up to 5%.

Depending on the deposit structure, customers can commit to an amount starting from 0.500 baiza for a daily plan, RO5 for a weekly plan, and RO10 for a monthly plan. The interest rate on the Recurring Deposit Account ranges between 4.25% - 5%.

Amjad al Lawati, Chief Retail Banking Officer at the bank, said, We at Bankdhofar, through the Recurring Deposit Account, try to help customers build a good financial plan to achieve their goals in financing their children’s education, their dream trip, or opening a small or medium business, etc by allowing customers deposit a fixed amount of money every month on a regular basis. In addition, account holders have a clear advantage in obtaining competitive interest rates in the market and achieving better returns on their investments.

Bankdhofar also offers a different group of deposits that allow customers to enriching their savings experience and giving them an opportunity to grow their wealth, such as a fixed deposit, especially for individuals who are looking to secure their savings at a competitive interest rate, in addition to the high-yield savings account, which is a suitable option for customers who prefer flexibility and liquidity with get the best returns, as it offers competitive interest of up to 4.25% annually on balances.

The bank also provides another saving option for customers in US dollars.