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Sohar Bank Account and Card Fees

A recent updated guide of sohar international.

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Sitesh Kumar
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423 views5 pages

Sohar Bank Account and Card Fees

A recent updated guide of sohar international.

Uploaded by

Sitesh Kumar
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Sohar Wealth/Premier , Sohar First and Mass

Description Sohar Wealth/Premier Sohar First Mass


Personal Account
Account Opening fees FREE FREE FREE

Minimum Balance– Current Accounts OMR 200 OMR 200 OMR 200

Minimum Balance– Savings Accounts OM 100 OM 100 OM 100

Minimum Balance– Term Deposit Account OMR 1,000 OMR 1,000 OMR 1,000

Non-maintenance of Minimum monthly Balance


(except for pension accounts, social allowances and OMR 0.525 per month OMR 0.525 per month OMR 0.525 per month
accounts with monthly salary less than RO500)

Min salary: OMR 3,000 Min salary: OMR 700


Eligibility criteria Min Salary : up to OMR 699
Min deposit: OMR 30,000-49,999 Min deposit: OMR 10,000 -29,999

Account closure fee (if closed within 1 year of


OMR 3.150 OMR 3.150 OMR 3.150
opening)

Standing Instruction set up - Internal OMR 1.050 OMR 1.050 OMR 1.050

Standing Instruction set up - external OMR 2.100 OMR 2.100 OMR 2.100

Standing Instruction Cancellation OMR 2.100 OMR 2.100 OMR 2.100

Issuance of any certificate (Account Balance, No


OMR 2.100 OMR 2.100 OMR 2.100
Liability Certificate etc)

Dormant account charge OMR 2.100 per year OMR 2.100 per year OMR 2.100 per year

In the event of premature closure , the bank will adjust the interest paid out from the principal deposit amount and
Term deposit premature closure deduct 1 %from the prevailing rate of the period deposit remained with the bank (or) contractual rate which ever is
lower at the time of preclosure.

Photo copy from Statements


OMR 1.050 OMR 1.050 OMR 1.050
• Up to 6 months old
OMR 3.150 OMR 3.150 OMR 3.150
• More than 6 months old or 7months to 12 months old
OMR 5.250 OMR 5.250 OMR 5.250
• More than 12 months old

Cheques
10 leaves OMR 1.050 ,25 leaves 10 leaves OMR 1.050 ,25 leaves 10 leaves OMR 1.050 ,25 leaves
Cheque books (10 , 25 & 50) Leaves
OMR 2.100 , 50 leaves OMR 3.150 OMR 2.100 , 50 leaves OMR 3.150 OMR 2.100 , 50 leaves OMR 3.150

Issuance/Cancellation of Cashier’s order/


OMR 2.100 OMR 2.100 OMR 2.100
Demand draft

Cheque drawn on own account is returned


OMR 15.750 OMR 15.750 OMR 15.750
unpaid due to insufficient funds

Cheque returned /other reason OMR 10.500 OMR 10.500 OMR 10.500

Stop payment (either single cheque or bunch


OMR 5.250 per cheque/instruction OMR 5.250 per cheque/instruction OMR 5.250 per cheque/instruction
of serially numbered cheques)

Counter cheques– cash withdrawal OMR 1.050 OMR 1.050 OMR 1.050

Cheque photocopy
OMR 2.100 per document OMR 2.100 per document OMR 2.100 per document
• Up to 12 months old
OMR 3.150 per document OMR 3.150 per document OMR 3.150 per document
• More than 12 months old

Description Sohar Wealth/Premier Sohar First Mass


ATM/Debit Cards
Issuing Debit Card FREE FREE FREE

Re-issuance of Debit Card PIN OMR 5.250 OMR 5.250 OMR 5.250

Debit Card Annual Fee(charged after completing one


FREE OMR 1.050 OMR 1.050
year )

ATM Card/Debit Card Replacement Fee


OMR 2.100 OMR 2.100 OMR 2.100
(lost/stolen)

Usage fee in OMAN at Sohar International ATMs


Cash with drawal/deposit Nil Nil Nil

Mini-Statement FREE FREE FREE

Transfer within OMAN Accounts OMR 0.210 OMR 0.210 OMR 0.210

Utility Bill Payments FREE FREE FREE

Credit Card Payment FREE FREE FREE

+ 968 24730000
[Link]
Sohar Wealth/Premier , Sohar First and Mass
Description Sohar Wealth/Premier Sohar First Mass
In Oman at OmanNet Switch ATMs
Cash withdrawal OMR 0.105 OMR 0.105 OMR 0.105

Balance enquiry OMR 0.052 OMR 0.052 OMR 0.052

Usage fees per transaction from abroad


Cash withdrawal at Non Sohar ATMS OMR 2.100 OMR 2.100 OMR 2.100

Foreign currency processing fee (Purchases and Cash


2.5% 2.5% 2.5%
Withdrawals)excluding VAT

Phone Banking
Funds transfer between Oman accounts FREE FREE FREE

Utility bill payments (OIFC) FREE FREE FREE

Personal Internet Banking


Funds transfer between Oman accounts FREE FREE FREE

E-statements FREE FREE FREE

Utility bill payments (OIFC) FREE FREE FREE

Inward International Remittances


OMR credited to Sohar International Account OMR 1.050 OMR 1.050 OMR 1.050

In Foreign Currency
Foreign currency(FCY) remittances credit in OMR to
OMR 5.250 OMR 5.250 OMR 5.250
accounts

Foreign currency (FCY) remittances credit in foreign


OMR 5.250 OMR 5.250 OMR 5.250
currency (FCY) to accounts

Remittances credit to accounts with other banks OMR 5.250 OMR 5.250 OMR 5.250

Outward Remittances
Demand Draft (DD) Bankers Cheque issuance OMR 2.100 OMR 2.100 OMR 2.100

Demand Draft(DD) -Foreign Currency(FCY) OMR 3.150 OMR 3.150 OMR 3.150

India online remittance (Ek Do Teen) OMR 1.050 OMR 1.050 OMR 1.050

OMR 1.050 min - OMR 3.150 max OMR 1.050 min - OMR 3.150 max OMR 1.050 min - OMR 3.150 max
Remittance -Local ACH
(Per Batch) (Per Batch) (Per Batch)

Remittance -Throgh RTGS OMR 1.050 OMR 1.050 OMR 1.050

Stop Payment Demand Draft (DD)/Remittance OMR 3.150 OMR 3.150 OMR 3.150

Description Sohar Wealth/Premier Sohar First Mass


FCY drafts cancellation at FCY drafts cancellation at FCY drafts cancellation at
Bank’s buying rate on the Bank’s buying rate on the Bank’s buying rate on the
cancellation date or the cancellation date or the cancellation date or the
Demand Draft (DD)/Remittance cancellation charge
original selling rate whichever original selling rate whichever original selling rate whichever
is lower + charge of 5.250 is lower + charge of 5.250 is lower + charge of 5.250
Omani Rials Omani Rials Omani Rials

OMR 0.525 to be shared equally OMR 0.525 to be shared equally OMR 0.525 to be shared equally
Local Currency (LCY) cheques by collection bank and by collection bank and by collection bank and
paying bank paying bank paying bank

1.575% with a maximum of 1.575% with a maximum of 1.575% with a maximum of


USD 31.5 and minimum of USD 31.5 and minimum of USD 31.5 and minimum of
Foreign Currency (FCY) cheques
USD 26.25 per transaction + USD 26.25 per transaction + USD 26.25 per transaction +
actual postage expense actual postage expense actual postage expense

Post-dated cheques OMR 3.150 per cheque OMR 3.150 per cheque OMR 3.150 per cheque

Remittance through Mobile Banking APP


Local/between Sohar OMAN accounts
FREE FREE FREE
• Electronic/Manual

Additional charge to send International TTs


in full within Sohar Group (Charges“OUR”)a FREE FREE FREE
Electronic/Manual

+ 968 24730000
[Link]
Sohar Wealth/Premier , Sohar First and Mass
Description Sohar Wealth/Premier Sohar First Mass
Other Charges
Special clearing OMR 10.500 OMR 10.500 OMR 10.500

Safe keeping of post-dated cheques (PDC) OMR 5.250 OMR 5.250 OMR 5.250

Collection of cheque OMR 3.150 per cheque OMR 3.150 per cheque OMR 3.150 per cheque

Processing of requests for removal of customer name


OMR 2.100 OMR 2.100 OMR 2.100
from CBO caution list (Individual account)

Processing of requests for removal of customer name


OMR 21.000 OMR 21.000 OMR 21.000
from CBO caution list (business account)

Fate inquiry by telex OMR 6.300 OMR 6.300 OMR 6.300

Fate inquiry by airmail OMR 1.050 OMR 1.050 OMR 1.050

Mobile banking/Internet banking - RTGS Local


OMR 1.050 OMR 1.050 OMR 1.050
transfer

+ 968 24730000
[Link]
Personal Loans
Description Tariffs/Charges

Arrangement Fee (New Loans) OMR 26.250

Arrangement Fee (Topup Loans) OMR 5.250

1% in the form of additional interest on overdue


Late Payment Charge
installment

Pre-payment/Pre-Closure of loan 1.05% of amount repaid

Partial payment of loan (min OMR 1000) 1.05% of amount repaid

Loan rescheduling fees OMR 5.250

No Liability letter OMR 2.100

Installment deferment fee for Personal Loans only (except


OMR 5.250
deferment during Eid*)

0.052% from loan amount minimum OMR 5.250 and


Insurance Admin Fee
maximum OMR 78.750

Life Insurance Fee as applicable

Housing Loans
Description Tariffs/Charges

Processing Fee OMR 52.500

Late Payment Charge 1% over agreed rate

Pre-payment/Pre-Closure of loan 1.05% of amount repaid

Partial payment of loan (min OMR 1000) 1.05% of partial payment amount

Loan rescheduling Fees OMR 5.250

0.052% from loan amount minimum OMR 5.250 and


Insurance Admin Fee
maximum OMR 78.750

Life Insurance Fee as applicable

Property Insurance Fee as applicable

+ 968 24730000
[Link]
Credit Cards
Description Visa INFINITE Visa SIGNATURE Visa PLATINUM Visa GOLD
OMR 31.5 ( Fee is waived subject to
Primary card annual fee Free for Life Free for Life Free for Life
annual spend of 2400 OMR )

First card is free, any additional card First card is free, any additional card First card is free, any additional card
Supplementary Cards OMR 15.750
is charged 31.5 OMR is charged 31.5 OMR is charged 31.5 OMR

5% or OMR 10.500 whichever is 5% or OMR 10.500 whichever is 5% or OMR 10.500 whichever is


Minimum payment 5% or OMR 10.500 whichever is higher
higher higher higher

Finance Charge on purchases per


18% 18% 18% 18%
annum (salary transfer to Sohar)

Cash advance Limits 90% 90% 90% 90%

Cash advance fee OMR 5.250 + 3% of amount OMR 5.250 + 3% of amount OMR 1.050 + 3% of amount OMR 1.050 + 3% of amount

Card replacement fee (Lost Cards) OMR 10.500 OMR 10.500 OMR 10.500 OMR 10.500

Late payment fee OMR 10.5 + 3% on amount due OMR 10.5 + 3% on amount due OMR 3.150 + 3% on amount due OMR 3.150 + 3% on amount due

Over limit fee OMR 5.250 OMR 5.250 OMR 5.250 OMR 5.250

Copy of previous statement


• Up to 6 months old
• More than 6 months old or 7months OMR 5.250 OMR 5.250 OMR 5.250 OMR 5.250
to 12 months old
• More than 12 months old

Returned cheque fee OMR 15.750 OMR 15.750 OMR 15.750 OMR 15.750

Charge for disputing a transaction


OMR 10.500 OMR 10.500 OMR 10.500 OMR 10.500
subsequently found to be genuine

Foreign Currency Transactions


2.5% of transaction amount + 5% VAT 2.5% of transaction amount + 5% VAT 2.5% of transaction amount + 5% VAT 2.75% of transaction amount + 5% VAT
Processing Fee

+ 968 24730000
[Link]

Common questions

Powered by AI

Replacement of a lost card across both ATM/Debit and credit types at Sohar International incurs a standard fee of OMR 2.100 for ATM/Debit cards, while the replacement fee for a lost credit card is OMR 10.500 across all card categories . These fees underscore a uniform policy for debit cards but a higher penalty for lost credit cards due to potentially greater risk and administrative cost.

Digital banking services, such as funds transfer between Oman accounts and utility bill payments, are free through phone or internet banking options, while traditional services like cheque collection cost OMR 3.150 per cheque. Despite reduced costs for digital services, traditional transactions still attract service fees, reflecting a strategic emphasis on promoting digital banking while covering the costs of physical processing .

Within Oman, there is a nil charge for cash withdrawal/deposit at Sohar International ATMs, while there is a nominal fee at OmanNet Switch ATMs of OMR 0.105 for cash withdrawal and OMR 0.052 for balance inquiry. Abroad, cash withdrawal at non-Sohar ATMs incurs an OMR 2.100 fee, and a foreign currency processing fee of 2.5% applies .

Sohar International offers a fee waiver for Visa Gold credit cards if the annual spend reaches 2400 OMR. Additionally, the primary card for Visa Infinite, Visa Signature, and Visa Platinum is free for life. The first supplementary card is free across all categories, with subsequent cards incurring a charge of 31.5 OMR. The minimum payment due on all cards is the greater of 5% or OMR 10.500 .

Charges for cheque-related services are consistent across all account categories. For cheque book leaves, issuing 10 leaves costs OMR 1.050, 25 leaves cost OMR 2.100, and 50 leaves are priced at OMR 3.150. The return of a cheque due to insufficient funds costs OMR 15.750, while for other reasons it costs OMR 10.500. Stop payment charges per cheque are OMR 5.250 . Consistency across the account types signifies a standardized approach to cheque service charges.

In the event of premature closure of term deposits, the bank adjusts the interest paid out from the principal deposit amount and deducts 1% from the prevailing rate for the period the deposit remained with the bank, or the contractual rate, whichever is lower at the time of pre-closure . This approach ensures that premature closure is financially disincentivized while offering consideration for the specific circumstances around the pre-closure adjustments and prevailing rates.

For all account types (Sohar Wealth/Premier, Sohar First, and Mass), the fee for setting up a standing instruction internally is OMR 1.050, while externally it is OMR 2.100. The cancellation fee for standing instructions is OMR 2.100 across all types .

Local remittance via ACH is charged between OMR 1.050 and OMR 3.150 per batch, whereas using RTGS incurs an OMR 1.050 charge. International remittances attract a standard OMR 5.250 charge for credits in either foreign currency or OMR, with the additional option to send remittances within the Sohar group without extra charges via their mobile app .

The charge for not maintaining the minimum monthly balance across all three account categories (Sohar Wealth/Premier, Sohar First, and Mass) is identical at OMR 0.525 per month, with exceptions for pension accounts, social allowances, and accounts with monthly salaries less than RO500 .

Term deposits incur a penalty of interest adjustment and a 1% deduction from the prevailing or contractual rate upon premature closure. For loans, an arrangement fee of OMR 26.250 applies to new loans (OMR 5.250 for top-ups). Pre-payment or pre-closure incurs a 1.05% fee of the repaid amount. Loan rescheduling is charged at OMR 5.250 . These fees reflect bundled service charges to manage risk and administrative costs for the bank.

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