Children Savings Account - a customized savings product exclusively for young children below 18 years of age.

Securing your child’s future and teaching them the value of money is one of the top priorities of any parent. Therefore, we present to you "Sohar Minor account" the perfect savings solution for you and your child, whilst being rewarded at the same time. Save for your child’s future with Sohar Minor account.

50 OMR

Initial deposit

2%

Rate for savings account

200 OMR

Total transaction amount allowed per month

Feature & Benefits

Free Debit Card for children aged 15 years and above*

Free Cash Deposit Card for children below 15 years

Free Accidental Life Insurance of up to RO 75,000

Minor account holders can also participate in other Savings Scheme prize draws*

8 chances earned for every minimum average balance maintained in the account

Zero minimum balance charges

Accounts can be maintained in OMR, AED, GBP and USD

Discounted premium for education shield insurance product on availability*

Internet Banking Facility: View access to parents

Enjoy 1-minute banking with a host of services on the Sohar International Mobile Banking App

Choose from 2 saving accounts

Saving accounts : special prize category for minor account holders

  • Refer to the prize draw scheme leaflet for more details*
  • Account in AED, GBP & USD are also eligible for the prize draw*

Interest bearing Savings Account

  • Higher interest rate of 2% per annum
  • Interest amount will be credited on monthly basis

Terms & Conditions

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.

Debit Card with a daily ATM cash withdrawal limit or POS usage limit of RO 50 per transaction and total transaction amount not exceeding RO 200 per month.

An initial deposit of RO 50. Parents can choose free standing instructions to transfer a fixed amount of RO 10 or higher every month.

Cash Deposit Card for minor account holders below 15 years of age will not have any withdrawal facility. Cash deposit facility is currently offered at Sohar International CDMs only.

The bank reserves the right to amend interest rates for the interest-bearing savings account and will notify the customer about any such change.

#Insurance coverage will be on accidental death of the primary account holder (parent) opening the kids account. The claim amount payable will be double the kids savings account balance as on the last business day of the previous month up to a maximum of RO 75,000/-. The coverage shall be as per the T&C of the insurance policy provider.

Terms & conditions apply

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