Meethaq Savings Plan

Achieve your life goals with meethaq savings plan, which offers a unique combination of saving, investment and protection

Features:
  • Goal based savings product allowing customers to save for education, wedding, retirement or any other purpose.
  • Plans start as low as rials Omani 50 per month
  • Plans ranging from 3 years up to a maximum of 70 years of customer age
  • Flexible contribution payment options (monthly/quarterly/semi-annual/or annual)
  • Free Direct debit/standing order facility to transfer the contributions to the savings plan account
  • Attractive profit rate (with profit added back to the savings plan account, on monthly basis)
  • Complementary Inbuilt takaful cover to protect the savings goal provided by a local takaful company
  • Contributions invested in shariah compliant financing and investments of meethaq
  • Option to withdraw up to 10% of the accumulated contributions from the savings plan account in case of an emergency
  • Option for partial withdrawal one time in a calendar year (from jan-dec)
  • Customer can top up the Saving plan with additional funds if required.​
Eligibility:
  • All individuals aged 18 years and above, up to the maximum age of entry of 64 years, can apply for meethaq savings plan.

Expected Profit Rates:​

​Meethaq Savings Plan offers an attractive profit rate of 3% per annum (p.a).

Fees & Charges:​
  • For more details, please refer to Meethaq Tariff Book, Click here
Terms & Conditions:
Documents Required:
  • Signed savings plan application form.
  • ID card (for Omani nationals)
  • Resident card and passport (Residents)

FAQs:

Illustrative table to underst meethaq savings plan (OMR 100 initial investment):

Monthly Installment / Deposit / Contribution

Term / Tenor

Starting Takaful Coverage*

End of Term, Cash Value**

Total Contributions

Total Profit**

RO 50

15 years

9,000

OMR 11,505.38

OMR 9,100.00

OMR 2,405.38

RO 100

15 years

18,000

OMR 22,854.01

OMR 18,100.00

OMR 4,754.01

RO 150

15 years

27,000

OMR 34,202.65

OMR 27,100.00

OMR 7,102.65

* Takaful coverage will reduce as the regular contributions are paid by the customer.

** End of term cash value is based on expected profit rate and other assumptions. however, the actual results will be based on mudarabah pool income, weightages and payment of regular contributions by MSP holder or customer.

Disclaimer: The above values are based on expected profit rate of 3% per annum and this may change based on the mudarabah pool assets performance. the mudarabah rates are declared on monthly basis.​​​​

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