Meethaq Current Accoun​t

Safely deposit your funds in meethaq current account and enjoy unlimited access to it to conduct personal or business transactions

Features:
  • Debit Card (for individuals only) with daily cash withdrawal limit of RO 600 from the ATM.
  • Withdrawal and deposit facility through nationwide ATM/CDM network and Meethaq Branches. On local ATM cash withdrawal the Bank reserves the right to waive the fees associated with the withdrawal.
  • Cheque book facility available.
  • Manage the account on the move with free 24x7 Electronic Banking services including Internet Banking, ATMs, Cash/Cheque Deposit Machines and Mobile Banking.
  • Flexibility to make purchases at more than 27 million Visa endorsed shopping outlets worldwide through the Visa Debit Card.
  • Pay your bills for Electricity, Water, Telephone, Internet, Schools, etc.
  • Hassle free account opening process with minimum documentation.
  • Fees and charges shall be applied as per the tariff book; available in the branches and on the bank's website.
Eligibility:

any Omani citizen or resident (single or joint) or a registered company can open the account at any meethaq branch.

FAQs:

Meethaq Hibati Savings Account

Hibati Savings Account (a Prize Draw Account) Hibati. Our gift to you.

Hibati Savings Account is a prize draw based savings account, the account not only provides you profit based on Mudarabah on monthly basis but also enables you to enter the prize draw to win attractive cash prizes. Hibati Savings Account offers one of the largest number of prizes in any prize draw scheme in Oman, with over 5,000 cash prizes to be won.

Shari’a Basis:

Hibati Savings account is a Shariah compliant prize draw account based on the Islamic contract of Mudarabah which is a kind of partnership under Islamic Shari’a. You as a depositor will be the Rabb-ul-maal or the Fund Provider and Meethaq will be the Mudarib or Fund Manager, the profit generated from the investment will be distributed based on pre-agreed sharing ratio.

The prizes offered will be as Hiba from the Bank to the customers out of the Mudarib share or paid by the shareholders through their own sources. These will be over and above the profit share of Account Holders in the General Mudarabah Pool distributed as per the declared weightages.

Eligibility:

All Omanis or Expats 18 years of age or above are eligible to open the Hibati Savings Account by visiting a nearest Meethaq branch with identity card (in case of Omani citizens, please bring original National ID card) and resident card plus passport (in case of resident expatriates, please bring original).

Features:
  • Mudarabah Profit Rates: The profit on Hibati Savings Account shall be calculated and paid on monthly basis based on the declared weightages and profit rates.
  • Cash Prizes through draws: The deposit in the account based on eligibility will make you enter into the draws (weekly / monthly / annual-end of year) and you can win cash prizes on random selection basis through the draw system.
  • Visa Debit Card: You shall be entitled to receive a Visa Debit card linked to the Hibati saving account. Through the card you can perform ATM withdrawals and point of sale (POS) transactions at millions of Visa merchants worldwide.
  • No Minimum balance Charges: There will be no minimum balance charges on the account irrespective of the deposit maintained by you. Also there will be no minimum balance requirement for Mudarabah profit eligibility so you can keep any balance and still be entitled for profit.
  • Online Banking facility: There will be no restrictions on number of transactions in the account be it through electronic channels or the branches. You will be able to access the account from any branch of the bank.
  • E-Banking facility: You will be able to access the account through E Channels such as mobile and internet banking free of charge.
Prize Draw:

Based on the average balance maintained in the Hibati Savings Account you will be entitled to be part of the draws taking place on weekly / monthly and annual basis. For the weekly and monthly draws each RO 100 average balance constitutes 1 entry to the draw.

  • Weekly – this draw will be held every week for the eligible customers. For the weekly prize draw, the eligibility will be “weekly average balance” calculated for one week before the draw date i.e., if the draw is on Monday, the average balance will be calculated for the week ending on Sunday. Each RO 100 average balance will count as one entry into the weekly draw.
  • Monthly – this draw will be held on a monthly basis for the eligible customers. For the monthly prize draw the eligibility will be monthly average balance of RO 100, so each RO 100 will count as one entry into the monthly draw. The average balance will be counted from 1st to the last day of previous month so for Feb. the average balance will be calculated from 1st Jan. to 31st Jan. The average balance calculation will be based on number of days of the month so in case it is Jan. it will be 31 days, Feb. will be 28 days and so on irrespective of the account opening date.
  • Annually – this will be one time annual draw to be held once in a year, it will be carried out after completion of the full year starting from the 1st draw under the Scheme. For the annual prize draw, the eligibility will be 3 months average balance calculated for the last three months from the month the annual draw is taking place. For example, if the annual draw is scheduled for May, it will consider the average balance of last 3 months which in this case are Feb, Mar, ​and April. The average balance requirement is as per the prize amount given in the Scheme details below.

Frequency

Min avg. Balance (weekly/monthly/ last 3 months avg. balance)

Prize Amount

No. of Winners

Times

Total Prize Money

Total Prizes

Weekly

100

100

100

52

520,000

5,200

Monthly

100

1,000

10

12

120,000

120

Annually

500

5,000

10

1

50,000

10

 

1,000

10,000

4

1

40,000

4

 

5,000

25,000

3

1

75,000

3

 

10,000

50,000

2

1

100,000

2

 

30,000

100,000

1

1

100,000

1

TOTAL

 

 

 

 

1,005,000

5,340

FAQs:

Terms & Conditions    Shariah Pronouncement    ​​ Hibati Winners    ​​

Meethaq Savings Account

Experience world-class service and latest technology with meethaq, Oman’s most popular Islamic savings account

Features:
  • Profit at competitive rates will be credited to your account on a monthly basis and there is no minimum balance requirement for profit eligibility. Profit (if any) will be credited to customer accounts based on the monthly average balance.
  • The historical profit rates, profit sharing ratio and weightages are available on the website and branch noticeboards.
  • Tiered/Slab based profit rates, so the higher the average balance the higher the profit. Profit rates vary each month based on Mudarabah pool calculation.
  • Free Life Takaful in case the customer is maintaining an average balance of RO 30,000 or above, the life cover is capped at RO 50,000.
  • No penalty or fees in case of low balance.
  • Debit Card with daily cash withdrawal limit of RO 600 from the ATM, on local ATM cash withdrawal, the Bank reserves the right to waive the fees associated with the withdrawal.
  • Withdrawal and deposit facility through nationwide ATM/CDM network.
  • Manage the account on the move with free 24x7 Electronic Banking services including Internet Banking, ATMs, Cash/Cheque Deposit Machines and Mobile Banking.
  • Flexibility to make purchases at millions of Visa endorsed shopping outlets worldwide.
  • Pay your bills for Electricity, Water, Telephone, Internet, School Fees etc.
  • Hassle-free account opening process with minimum documentation
Eligibility:
  • Any Omani citizen or resident (single or joint) or a registered company can open the account at any meethaq branch
  • Legal guardians could open the account in case of minors

FAQs:

Meethaq Salary Account

With Meethaq Salary Account you get several attractive benefits of your salary. Apply now to enjoy the wide range of benefits.

Features:
  • Free ATM withdrawals for Meethaq customers on any Bank ATM in Oman without any withdraw fees
  • Attractive Mudarabah profit rates on your deposits, more you save more you earn
  • Free Life Takaful coverage through Takaful company *
  • Preferential Profit Rate on Meethaq Financing Products **
  • Discounts and Offers at more than 100 merchants through Meethaq Makafat application

  • * T&C apply. Prescribed balance has to be maintained in the account to receive the Takaful cover
    ** T&C apply. On transfer / assignment of a certain amount of Salary to Meethaq

Eligibility:

Any Omani citizen or resident working at an organization can open the account at any Meethaq branch.

FAQs:

Neswa Savings Account

Packed with unique features and benefits, neswa savings account is crafted to make women’s life easy and help pursue goals that matter

Features:
  • Visa Debit Card with an ATM withdrawal limit of RO 800 and access to the largest network of ATMs and CDMs across Oman. Charges applied as per Meethaq tariff book.
  • Complimentary Takaful coverage under Woman's Wellness Program which includes:
  1. Life cover up to RO 10,000
  2. Wallet/Handbag cover up to RO 1,000
  3. Loss of ID Cards / Keys cover up to RO 100
  • Attractive profit rates paid on the average balance of the month.
  • Exclusive discounts on Safe Deposit lockers: Up to 50% discount on locker annual rental charges for account holders meeting the product criteria; subject to locker availability.
  • Exclusive discounts and offers at partner/merchant outlets.
Eligibility:
  • Any female (Omani citizen or resident), 18 years or above, is eligible to open a neswa savings account
  • She should have a minimum balance amount of rials Omani 300 or minimum salary transfer of rials Omani 500

FAQs:

Meethaq Children Savings Account

Gift your children a secure future with meethaq children savings account (baraem), the fun way to learn the importance of saving from an early age

Features:
  • Profit at competitive rates credited to the account on monthly basis and no minimum balance requirement for profit eligibility. Profit credited (if any) to customer accounts calculated based on monthly average balance.
  • The historical profit rates, profit sharing ratio and weightages are available on website and branch noticeboards.
  • Tiered/Slab based profit-rates, so the higher the average balance the higher the profit. Profit rates vary each month based on Mudarabah pool calculation.
  • Insure child's future education with Meethaq' s complementary child education Takaful cover by maintaining RO. 1,000 and above in the child's Baraem savings account to (Max up to 4 kids).
  • Free Standing Order to transfer funds from Parent / Guardian account to Baraem.
  • You can open the account with an amount as low as RO 50.
  • No penalty or fees in case of low balance.
  • Manage the account on the move with Free 24x7 Electronic Banking services including Internet Banking, ATMs, Cash/Cheque Deposit Machines and Mobile Banking.
  • Hassle free account opening process with minimum documentation.
Eligibility:

Any parent or guardian who is an Omani citizen or a resident in Oman can open the account for his/her children under the age of 14 years, from any meethaq branch.

FAQs:

Meethaq Term Deposit

Earn healthy returns on your investment, without compromising on your beliefs, by depositing in meethaq term deposit

Features:
  • Option to choose the period of your investment from 1 month to 6 years
  • Minimum amount of deposit is Omani Riyals 1,000/- only or equivalent USD
  • Profit at competitive rates credited to your account at the chosen profit payment frequency (Maturity, Annual, Semi Annual, Quarterly, Monthly)
  • Profit rates are announced at the beginning of each month for the previous month
  • Pre-mature break or encashment of the deposit is allowed
  • Automatic renewal-of-investment option is available, no need to track the Maturity dates
  • Acceptable as collateral for other banking facilities
  • Invest RO 30,000 and above and become a Hafawa Priority Banking customer
  • Get the Visa Debit card facility to collect your profit from the Term Deposit linked Profit Account
  • Hassle free account opening process with minimum documentation
Eligibility:

Any Omani citizen or resident (single or joint) or a registered company can open the account at any meethaq branch.

FAQs:

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
  • Plans start as low as rials Omani 50 per month
  • Plans ranging from 3 years up to a maximum of 64 years of customer age
  • Flexible contribution payment options (monthly/quarterly/semi-annual/or annual)
  • 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, monthly)
  • 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)
  • Access to full encashment with a 1% pre-closure fee that will be applied on the accumulated contributions from the savings plan account
Eligibility:

All individuals aged 18 years and above, up to the maximum age of entry of 64 years, can apply for meethaq savings plan.

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.​​​

Meethaq Safe Deposit Lockers

Give your valuables the safety of a locker with meethaq safe deposit locker service, which ensures that your valuables are safe and your mind is at peace

Features:
  • Lockers available in three different sizes, Small, Medium and Large.
  • Flexibility to pay Rent on a Monthly or Annual basis.
  • Safe access to the Lockers during Branch Operation Hours; Sunday to Thursday, 8:00 AM to 2:00 PM.
  • You can assign up to 4 other persons (18 years or above) to access the Locker based on your one time authorization at the time of opening of the Locker service.
  • Complete maintenance of log / record for Locker visits, available for the customer information, if required.
  • The Lockers can be rented for shorter periods such as 3 months, 6 months etc.
  • Auto renewal of the facility available so you don't need to worry for the regular renewals. The rental will also be automatically collected from the specified linked account.
  • Locker insurance has to be arranged by the customer.
  • You can vacate the Locker by providing a one month notice to your respective Branch.
  • Locker service is available on a first come first serve basis; if the service is not available at your branch you can apply for the service at another branch.
  • Lockers are available in the following branches:

- Ghubra Islamic Branch

- Nizwa Islamic Branch

- Ibra Islamic Branch

- Salalah Islamic Branch

- Sohar Islamic Branch

- Buraimi Islamic Branch

- Khoudh Islamic Branch

- 18th November Street Islamic Branch

Eligibility:
  • All individuals (18 years or above age) who have (or want to open) a current or savings account with meethaq can avail the service
  • The account should have sufficient funds to recover the periodic rental applicable for the locker service based on the type of locker occupied

FAQs: