Oman Arab Bank Charges
Below are the charges implemented in Oman Arab Bank and set by Central Bank of Oman in reference to Circular 1068 dated May 13th, 2010.
Personal Loans: Types of Charges Charge for topping up or rescheduling of an existing loan Installment Waiver charges that could be levied only if the installment is waived at the request of the customer (No charges shall be levied if the bank is offering this as a gesture on various occasions such as Eid, National Day, etc) Charges for pre-payment or pre-closure of the loan before the actual due date Maximum charges RO 5 RO 5
1% of the prepaid/foreclosed amount
Account Operation: Types of Charges Minimum Balance Charges in respect of saving Accounts (Minimum balance prescribed not to exceed RO100) Minimum Balanced Charges in respect of current Account (Minimum balance prescribed not to exceed RO 200) No charges shall be levied under this head if the account is maintained for the purpose of receiving Pension and other Social Support Allowance being granted by the Government to pensioners and disabled persons. No charges shall be levied resulting in balance becoming debit Issue of any Certificate by the bank to its customers such as Balance Confirmation, Nil Liability or No Due Certificate etc. Cheque Return Charges There shall be no penalty for cheque return on accountholder presenting cheque for collection (Refer Circular BM 730 dated 4.7.1994) Stop payment of Cheques (either single cheque or bunch of serially numbered cheques) this ceiling applies also to cancellation of Stop Payment instructions Photocopy of paid cheque RO 2 per certificate Maximum charges Bz.500 per month
Bz.500 per month
RO15 (minimum RO 10/-)
RO 5
RO 2 if the cheque is within one year period and RO 3 if the cheque is more than one year old Nil charges, if the account has the prescribed minimum balance RO 1 per half year or RO 2per year if the account does not have the minimum balance
Dormant Accounts
Types of Charges Closure of Accounts
Maximum charges No Charges are to be levied, if the account is more than one year old. RO 3 if the account is closed within one year
Collection of Outstation Cheques
Bz.500 to be shared equally by the collecting bank and the paying bank RO 1 per book of 10 leaves RO 2 per book of 25 leaves RO 3 per book of 50 leaves RO 5 per book of 100 leaves RO 1 RO2 RO2 RO1 Bz. 100 RO 5 p.a. for monthly statements RO.20 p.a. for weekly statements RO 50 p.a. for daily statements
Cheque Leaves
ATM Cards New Cards Supplementary Cards Replacements Annual fee for Debit Cards (Refer Circular BM 996 dated 20/2/2006) Cash Withdrawal through ATM of the other network within Oman Switch Bank Statements (Other than normal periodicity as agreed)
Types of Charges Duplicate Statements
Maximum charges RO 1 up to 6-month old statements RO 3 for 6-12 months RO 5 beyond one year Bz. 500 for own customers and RO 1 for others RO 2 RO 1 for intra-bank transactions RO 2for others RO 10 for individuals RO 20 for others No deduction from principal Interest Payment may be reduced by 1% p.a. for the period run RO1 for local remittances and RO 5 for overseas remittances (actual out pocket expenses/other bank charges extra)
Utility Payments
DD/Pay orders Standing Instructions
Caution List Removal processing * Premature Closure of deposits
Remittances
Types of Charges Inward credits to Accounts
Maximum charges RO 1 for local remittances and RO 5 for overseas remittances (actual out of pocket expenses/other bank charges extra)
* These requests are to be taken up with Central Bank, on Exceptional Basis, on merits
