BankDhofar Reinforces Commitment to Future Generations with Stable Education Savings Plan

BankDhofar is underscoring the benefits of its time-tested Education Saving Plan, a dedicated financial solution to empower parents in building a secure financial foundation for their children's higher education. 
Designed for both Omani nationals and expatriate residents, the Education Saving Plan allows parents or guardians to start building a dedicated fund for their child’s education with flexible features and attractive returns.  

The BankDhofar Education Saving Plan offers an impressive opportunity for parents to start a higher education fund for their children, with the deposit tenure extending until the beneficiary reaches the age of 18. Parents can initiate their savings journey with an accessible monthly minimum deposit of RO 10.
This tailored approach allows customers to earn returns of up to 60% over the full tenure, with interest rates of up to 5%, depending on the duration of the deposit. The plan also offers the opportunity to invest through the Social Protection Fund, making it accessible to families across income brackets.

Commenting on the importance of financial preparedness for education, Chief Retail Banking Officer of BankDhofar, stated: “We firmly believe in nurturing the future of Oman, and that begins with investing in our children's education. Our Education Saving Plan is structured to inculcate savings habit from a very young age, while supporting parents to secure their children's academic ambitions. It's about providing peace of mind, knowing that a solid financial base is being built, allowing them to pursue higher learning opportunities without financial constraints.”

Parents can apply for the plan by submitting basic identification documents, including a Civil ID, passport copy, or birth certificate for the child. For expatriates, a valid resident ID and passport copy are required.
While the plan expects to drive long-term commitment, it also includes a clear policy for early withdrawals, where a 1% penalty is applied and interest is recalculated based on the actual duration the deposit was maintained at the prevailing market rate.

BankDhofar remains committed to offering smart, customer-centric financial solutions that support the aspirations of families across Oman. It encourages all parents to explore the benefits of its Education Savings Plan as a proactive step towards securing a bright and educated future for their children by visiting any more than 140 branches, distributed across all governorates of the Sultanate of Oman, or by visiting the website www.bankdhofar.com.