MUSCAT: Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, has evoked strong response to its unique savings plan which presents customers the opportunity to make regular savings at their convenience and achieve financial security for long-term goals such as marriage, education, retirement or personal savings.
In keeping with Meethaq’s leadership position in launching innovative products and services focused on the needs of customers, the savings plan is the first-of-its-kind aimed at helping customers realise their long-term objectives and thereby boost the savings culture in Oman.
The Meethaq savings plan is a goal based savings product whereby customers can identify and set a goal and make monthly savings to achieve the goal. The attractive features of the savings plan include Takaful cover, direct debit option through Standing Order and emergency withdrawal facility.
Meethaq helps grow the savings for customers by investing the cumulated savings in its financing and investment products and adding the profit generated to the cumulated savings to accelerate achievement of the goal on monthly basis. Underlying the savings plan is a recurring deposit account and the contributions collected from customers are added to the RD account. The savings plan leads to cumulative growth with attractive profit rates.
The Meethaq savings plan instils the discipline of savings habit among people. The account can be opened by any individual 18 years or above of age, having a source of income to contribute to the savings plan.
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