BankDhofar has introduced a new Fixed Deposit product featuring upfront interest payment, allowing customers to receive their interest immediately upon opening the deposit rather than at maturity. The offering aims to provide greater flexibility and liquidity while maintaining the security traditionally associated with fixed deposits.

The product is available with deposit terms ranging from 12 months to three years, including options for 12 months, 18 months, two years, and three years. It offers competitive annual interest rates of up to 4.60 percent. Customers can open fixed deposits starting at RO 20,000.

This innovative approach differs from conventional fixed deposits where interest payments are made periodically or upon the end of the tenure. By providing interest upfront, BankDhofar enables depositors to access immediate financial returns that can be used for other commitments or reinvestment, while the principal remains locked for the agreed duration.

BankDhofar representatives are available at branches to guide customers through the product’s features, tenure selections, and rate details, assisting in tailoring investments to individual financial needs.

The launch aligns with BankDhofar’s broader strategy to enhance its portfolio of savings and deposit solutions through customer-focused innovation. By combining upfront interest payments with competitive rates and flexible terms, the bank seeks to improve the overall customer banking experience and support more effective savings management.