Securing a financially stable future starts today. Worry-free about the future as tomorrows’ needs will be satisfied by saving today bit by bit. Start saving now with Sohar Islamic Saving Plan.
It is based on the Shari’a principle of Wakalah where you are the capital provider “Muwakkil” and the Bank is the investment manager “Wakeel” for an agreed period of time.
| Parameter | Description |
|---|---|
Shari’a Compliant | Approved by Sohar Islamic Shari’a Supervisory Board on the basis of Unrestricted Wakalah. |
Currencies | Riyal Omani and up to the bank to accept other currencies. |
Min & Max Target Amount | There is no lower or maximum limit for the target amount. |
Tenor | Minimum tenure 6 months and maximum is 18 years. |
Monthly Contribution/Instalment | Minimum is RO. 5/- No maximum |
Cash Withdrawals | Partial withdrawal of 10% of the total Plan Balance for a single Gregorian year. |
Fees in case of partial withdrawal | 1% of the withdrawn amount |
Safe and secure saving compared to local group saving practices
Ability to open multiple plans for different purposes like: retirement, Haj, marriage, kid’s higher education and others
Fixed monthly contributions as low as RO.50/-
Partial withdrawal up to 10% of plan balance
Attractive profit rates
Profit is reinvested in the plan to meet target faster