Bank Nizwa, the leading Islamic Bank in Oman offers a wide range of saving and investment solutions to meet the varying needs of different individuals.
Apart from the regular options like current and savings account, the Bank offers Mudaraba Investment account, Wakala Investment, and Recurring Deposit Account among other products and services. In a Mudaraba Investment, Account customers can grow their funds at the most competitive profit rates. For those looking for an ideal solution for retirement or to save for the family over a period of time, the Recurring Deposit option provides higher profit rates for better returns.
Bank Nizwa’s savings account portfolio encourages the practice of saving, investing, and growing funds. The accounts not just makes saving easier, but also allows customers to grow their funds with minimal risks and within the scope of Sharia-compliant financing, ensuring absolute peace of mind.
Bank Nizwa helps customers earn a profit based on the average account balance. Arif Al Zaabi, Retail AGM, said, “We want to encourage everyone to inculcate the habit of saving for whatever the future needs may be – planned or unforeseen. Whether it is a modest monthly deposit or a larger investment, the idea is to give our customers the opportunity to gain a monthly profit while growing their savings. Our products and services have always been well-received and we will continue to enhance our offerings by providing innovative products and solutions for our customers.”
Always keeping the customer’s needs in mind, Bank Nizwa’s range of saving accounts comes with a host of benefits. It gives customers the freedom of unlimited financial transactions, free e-channels, free ATM and debit cards, and free cash withdrawals from a teller or bank ATMs. With a keen eye on customer service, its call center, internet and mobile banking services ensure that it stays well-connected with its customers. To help customers keep track of their fund-flows, organize funds, and stay up to date, Bank Nizwa has also enabled free SMS notifications, free half-yearly printed statements and electronic statements (daily/weekly/monthly/half-yearly), as well as an option of standing instructions for periodic transactions.
Further extending the benefits, the Bank Nizwa gives customers the liberty to conduct banking from anywhere, which means customers can carry out transactions from any of the bank’s branches spread across Oman and use any of the ATM/CCDM machines. It requires no minimum balance and the Bank does not charge any maintenance or account dormancy fee. While customers get profit payment on account average balance, they are exempted from any profit payout payment. In addition, customers can also conduct transactions in multiple currencies (OMR, AED, EURO, USD, GBP) and take advantage of services like local and international remittances from the branch as well as the mobile banking application.