Meethaq Children Savings Account a suitable choice to enhance savings habits

Meethaq Children Savings Account a suitable choice to enhance savings habits

Muscat: Meethaq Islamic Banking from Bank Muscat continues to enhance its partnership with the community by encouraging people to develop healthy savings habits and enhance financial literacy. Throughout the past years, Meethaq has been keen to customize its services and products to meet the needs of different segment in society. Children are one of the most important segments as they can learn through the customized account to build a foundation to grow enhancing their financial management practices, which are bound to assist them later in life.

Meethaq Children Savings Account includes two age groups. For children under the age of 14, Meethaq offers Baraem Children savings account, and for minors in the age range of 14 to 17, they can benefit from a regular savings account. Children can enjoy profit at competitive rates credited to the account on monthly basis and with no minimum balance requirement for profit eligibility. It offers Tiered/Slab based profit-rates, so the higher the average balance the higher the profit. Profit rates vary each month based on Mudarabah pool calculation. Any parent or legal guardian can open the account for his/her children under the age of 18 years, from any Meethaq branch with a hassle-free process and