BankDhofar creates bright future for children with Education Savings Plan
As part of its commitment to serving all segments of society, BankDhofar, the second-largest bank in Oman by branch network, is fostering a brighter future for children through a suite of accounts for Children. The offering includes savings account, term deposits and Education Savings plan. Our accounts offer a range of attractive benefits while promoting a culture of savings in the future of tomorrow’s Oman. The account features cash deposit facilities and aligns with the Social Protection Program, helping parents secure multiple opportunities for their children through structured education savings plans.BankDhofar understands that learning about money should be both educational and enjoyable. The Education Savings Account allows children to set goals, monitor their savings growth, and engage in a fun, interactive financial journey. Parents or guardians play a pivotal role in guiding their children through this process, fostering financial confidence and encouraging sound money management skills from an early age.
Amjad Iqbal Hassan Al Lawati, Chief Retail Banking Officer at BankDhofar, highlighted the bank’s dedication to developing tailored banking solutions that meet the diverse needs of the community. “We are committed to offering innovative banking products that cater to every segment of society,” he said. He further explained that the children’s account is designed to instill the value of saving and financial management in children from a young age.
BankDhofar offers a comprehensive suite of products and services for all demographics, including children, minor, women, and youth, alongside premium offerings such as Al Rifaa, Al Riadah, and Private Banking accounts for high-income customers. Special attention is given to children, with the Education Savings Account providing tailored benefits that encourage a saving culture. Children are eligible to open the account, with fee exemptions for maintaining a minimum balance. Additional benefits include opening of education saving plan to invest the monthly allowance of Social Protection Program and earn returns up to 60%.
Opening an Education Savings Account is straightforward. Parents or guardians can visit any of BankDhofar’s 131 branches across Oman and submit the necessary documents, including a copy of the child’s ID card, Passportor birth certificate for Omanis, or a passport with visa details and Birth Certificate for expats. An authorized person will sign the account opening form on the child’s behalf, making the process seamless and efficient.
To further enhance customer satisfaction, BankDhofar recently launched its “Service Promise” initiative, ensuring that branch staff attend to customers in under 10 minutes. This commitment reflects the bank’s dedication to respecting customers’ time, simplifying processes, and delivering a smooth, modern banking experience. By reducing wait times and strengthening relationships, BankDhofar continues to demonstrate its leadership in customer-centric banking for all segments of society.