Bank Muscat Fixed Deposit Account Important questions



Bank Muscat offers fixed interest rates accounts for people who want to operate such accounts. There are pertinent questions account holders should understand before opening the account.

Who can open a Fixed Deposit with BankMuscat?

A Fixed Deposit can be opened either in the name of individuals or minors or in the name of a Organisation / Ministry / Company (irrespective of the size).

How much money do I need to deposit to open a new Fixed Deposit?

You can open a Fixed Deposit with BankMuscat with a minimum of RO 1000. In case you already hold a Savings or Current account with BankMuscat, you can transfer funds directly from this account to open a new Fixed Deposit by giving instructions to your branch or through Call Centre over the phone.

Can I break my Fixed Deposits before the maturity date?

Yes, you can. In that case you will be charged a pre-payment charge of 1% of the Fixed Deposit amount.

How do I renew my Fixed Deposit?

You have to provide an instruction to the Bank to renew your fixed deposit upon maturity. Alternatively you can provide an auto-renewal instruction to the bank at the time of opening a Fixed Deposit, so that Bank can automatically renew your deposit at the time of maturity.