Do you save a little bit every month or do you put away a larger amount every few months? Do you save for your annual holiday or do you focus on the bigger picture when saving? Whatever your saving habits, our Savings Account helps you to manage your money easily.

Please find that we have designed the Key Fact Statement​​ that summarizes the main characteristics of the product. It is brief and limited to critical information that will support your understanding of the product.​​

You will receive an SMS confirmation once your account is opened.


  • Flexible transaction limits – Make unlimited* deposits and withdrawals per day across our branches. ATMs, however, have a withdrawal limit of OMR 750 – 2000

  • The interest rate is defined based on monthly minimum balances and the interest is calculated based on tiers as per the table below.


Minimum Monthly Balance (OMR)Interest rate (pa)
0 - 2,9990.10%
3,000 – 9,9990.25%
10,000 – 39,9990.50%
40,000 - 99,9990.75 %
100,000 – 249,0001.00 %
250,000 – 499,0001.75 %
500,000 – 999,9992.25 %
1 million and above3.25 %
For all Saving Accounts
(in other currencies) 
0.10 %

Interest rates will be published in the Bank's website and subject to change as per the Bank's discretion.

Due to updated banking policies, cash draws for the Al Kanz Savings Account have been discontinued as of 1 January 2022. NBO now offers Saving Accounts with opportunities to earn interest. 

  • At National Bank of Oman, we believe that saving is for everyone, including minors. Whether you are Omani or an expatriate, you can open a National Bank of Oman Savings account. 

    Customers with salaries greater than OMR 500:

    • An initial opening balance of OMR 5 is required.
    • A minimum average monthly balance of OMR 100 must be maintained.


    Customers with salaries less than OMR 500:

    • An initial opening balance of OMR 5 is required.
    • No minimum balance requirement is applied. 

For your convenience, there are several ways to open your savings account:
  • ​ For new and existing customers
    • ​​Open an account digitally via NBO Mobile Application 
    • Visit your nearest self-service kiosk, at NBO Main Branch and Al Khoudh Branch
    • Visit your nearest branch: CTA: Download Form - Retail Account Opening Form​

1.      What type of saving accounts are offered at NBO?

NBO provides two types of Savings Accounts as listed below:

  • Interest Bearing Savings Account
  • Non-Interest Bearing Savings Account


2.      What is the minimum balance to open a Savings Account?

  • Customers with salaries greater than OMR 500:
    • An initial opening balance of OMR 5 is required
    • A minimum average monthly balance of OMR 100 must be maintained
  • Customers with salaries less than OMR 500:
    • An initial opening balance of OMR 5 is required
    • No minimum balance requirement is applied


3.      Will I be charged if my balance falls below OMR 100?

  • Customers with salaries greater than OMR 500:
    • Yes, for both types of saving accounts if the balance falls below OMR 100 during any day of the month, the Bank will charge 0.525 baiza as a service fee for non-maintenance of daily minimum balance during the past month. For more information on the Bank's charges, click here.
  • Customers with salaries less than OMR 500:
    •  No minimum balance charges apply


4.     What are the Interest Rates for the Interest-Bearing Account?

Refer to the Savings Account section on the webiste on the applicable interest rates​.


5.      What will happen to my existing Savings Account ?

  • Existing customers:
    • With a Saving Account (without interest): Savings account will remain as is with no change.
    • With a Saving Account (with interest) The previous interest rate will be change and new tier based interest rate will be applied based on your existing deposit balance. 

  • Non-customers: You can easily open a new account through our NBO Mobile App or Internet Banking. You can also visit your nearest self – service kiosk or branch and submit an Account Opening Application form.



6.      Can I link my Debit Card to my newly opened account?

Yes, you can link your existing Debit Card to your newly opened Savings Account also through our NBO Mobile App or Internet Banking. Please note that for ATM withdrawals, you can choose which account to withdraw from; however, for POS transactions, the primary account linked to the card will be debited.


7.      When do I start earning interest on my savings account?

Interest will begin to accumulate starting from the day the account is opened, as opposed to the day the application is submitted.


8.      How is interest calculated on my savings account?

  • This account has different interest rate tiers.
  • The interest will be calculated on the minimum balance in the month of the account
  • Interest payouts occur on a half-year basis (every 6 months) (June 30 and December 31)

9.      Do I earn interest on a Non-Interest Savings Account?

No, non-interest saving accounts do not earn any interest.


10.  Can I have both savings accounts; interest bearing & non-interest bearing?

Yes, you can. We advise you maintain a non-interest account for your transaction and salary purposes and an interest-bearing account for savings.


11.  What happens if I have no transactions in my savings account?

If no transactions occur for 1 year, your account will turn dormant, and you will need to visit your nearest branch for reactivation.


12.  What documents are required for the KYC update?

The Bank is mandated by Central Bank of Oman to regularly update your information. You can update your personal information and include the relevant documents at your nearest branch:


List of documents to be attached:

Valid ID Credentials [Please obtain one of the below copies]:

  • Omani: National ID Copy
  • Non-Omani: Resident ID, Passport, Visa Copy

    Sources of Funds [Please obtain one of the below copies]:
  • Salary Income: Salary Certificate / Pay Slip
  • Family Sources: Details and Account Statement
  • Saving from other banking accounts: Account Statement

    Residence Proof [Please obtain one of the below copies]:
  • Property Mulkiya / Tenancy Agreement
  • Utility Bill
  • Letter from Employer
  • Letter from Wali / Sheikh certifying the address




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