To open an account with Sohar International you may walk into any of the Sohar International branches and complete the formalities of opening an account.
All Residents of Oman (both Omani's and non-Omani) above the age of 18 are eligible to open an account. Accounts for minors may be opened by the parents or the guardian of the minor.
Omani nationals should provide copy of their national ID card. Non-Omani Residents (Expatriates) should provide copy of their passport and resident card. Both should also bring the minimum amount required to open the particular account.
The account holder has round the clock access to his funds through the nation-wide network of ATMs including over 650 OmanNet ATMs.Sohar International customer can use the ATM facility free of charge. The account holder is also entitled to the checking facility, can make local and international remittances, transfer money telegraphically and transfer funds between accounts in Sohar International. The account holder also has access to all the electronic channels.
The Sohar account holder can sign up for electronic channels like Sohar I Internet Banking and SMS Banking.
With internet banking, the account holder may view the account on line, transfer funds between accounts and use the secure e-mail facility to communicate with the bank.
With the SMS Banking facility, the account holder can sign up for several ‘PUSH’ and ‘PULL' alerts and enjoy SMS banking from anywhere using the mobile phone.
When opening an account with Sohar International, you will get a Visa Debit Electron Card. you will enjoy access to your funds through 650 ATMs for cash withdrawals and through Point-Of-Sale networks for making payments for your purchases in shops, restaurants, supermarkets etc. in Oman and all over the world.
You can use your Sohar International Visa Debit Electron Card electronically for cash withdrawals at more than one million ATM machines and for payment at 29 million merchant locations worldwide, including Oman. In Oman, customers can use over 500 ATMs of the Oman Switch free of charge.
The different types of Sohar accounts and deposits are:
This is an account for children that parents or guardians may open to plan a future for the child. It can be opened with just OMR 5. The parent or guardian has access to their child's account through the branches and ATMs. They can also give instructions to transfer a fixed amount every month from their account to the child's account.
Customers maintaining a minimum balance of OMR 100 over a period of one month will automatically be eligible to participate in the bank's Sohar I Prize Scheme Account. For every OMR 100 average balance maintained in the Sohar I Minor Account, the account holder gets four chances to participate in Sohar International's Sohar I Prize Scheme which offers double the chances compared to regular savings accounts
A customer needs OMR 200 to open a current account and must maintain a minimum balance of OMR 200 at all times. In case the minimum balance is not maintained, the account will attract a maintenance fee deduction of OMR 2 every month. The account holder is provided with a cheque book and has 24 hour access to the funds through the ATMs. There is a facility for transfer of funds to and from other accounts in Sohar International and monthly account statements will be provided free of cost. The account may also be operated by a third party with a power of attorney.
Sohar I Term Deposit Accounts at Sohar International offer the customer the option to invest in a choice of currencies - Omani Riyals, US Dollars, Sterling Pounds, Euros and Japanese Yen - for different periods to suit your requirements. The account can be opened individually and, jointly by residents of Oman(Omani and None-Omani). They may be opened by individuals, businessmen, business and commercial establishments, corporate organizations, institutions, government and semi-government organizations and charitable trusts.
The minimum opening amount for this type of an account is OMR 1,000. Standing order facility is available for the payment of interest and the principal amount. Third parties may operate the account with a power of attorney. Loans are available against the term deposits and there is a facility for free transfer of funds.
Personal Financial solutions from Sohar International are loans designed to meet the individual's requirements to finance like buying a car, renovating a house, going on a vacation, meeting marriage costs, paying for you child’s higher education etc.
Sohar International offers the following products:
Personal Financial Solution facilities or loans are available for all Omani nationals and residents who receive a regular income through employment.
Yes. Customers have the option of transferring an existing loan amount with other banks to Sohar International to enjoy the unique features of the Schemes.
Sohar I Education Services or education loan facility is available to Omani students wishing to pursue higher education and to Omani employees looking for advancement in educational qualifications.
The financing options cover:
The loan limits are variable and depend on the period of the study and the area of educational specialization. During the period of study, only the interest amount needs to be paid during this period. Both the student and the parent/guardian have a life insurance cover. The Bank arranges for advisory services for the student through Al-Ajyal on options for higher education and mentoring support during the period of study.
The documents required are from four parties:
University or College Document
Omani citizens with minimum age 18 and maximum 60, employed in government and in approved private sector companies are eligible for this loan facility while expatriates can benefit from this product towards buying property in designated projects allowed by the law.
The loan amount will be up to Ro 150,000 or 80% of the value of the property whichever is lower. The maximum amount is calculated based on the monthly income and the customer's total ability to pay
The maximum repayment period is 25 years including a grace period of up to 18 months
Sohar I Home Solutions offer the lowest interest and insurance premium in the market and the lowest monthly instalments. There is a facility for joint-borrowers with single insurance premium and also the facility to avail of home furnishing finance at the housing loan interest rates.