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Bank muscat, the flagship financial services provider in the sultanate, feted winners of Themaar Higher Education Savings Plan and Themaar Retirement Savings Plan prize winners. The prize distribution ceremony at the head office was attended by senior bank officials.
Three customers won the special Themaar annual higher education scholarships worth RO10,000 each available for those opting for a Themaar plan of 5 years or more. Ten customers of Themaar Retirement Savings Plan won holiday packages worth RO500 each.
Said al Aufi, DGM - PMO, planning & control, said, “bank muscat is proud to offer Themaar Savings Plan for higher education and retirement in line with the bank’s strategy to inculcate prudent savings habit. Many people fail to plan for the future of their children and save toward their own retirement years. The Themaar Savings Plan addresses this critical need and helps customers to supplement their income so that they can ensure a bright future for their children and maintain a comfortable lifestyle even after they retire.”
Omar Nasser, father of 6-month-old Al Yaman, who was one of the three winners of RO10,000 each, said, “Themaar opens up a great opportunity for the future of children. Quality education is the key to a secure future for all and Themaar makes it surprisingly affordable by encouraging a strong savings habit. “Notably, Themaar helps customers to tap their own savings instead of resorting to loans while sending children for higher education at home or abroad.”
Notably, Themaar serves as a proper financial security for higher education. The nominal monthly amount invested on behalf of the beneficiary i.e. children, grows into a substantial lump-sum. The attractive benefits include a handsome bonus on maturity of the scheme.
Customers can earn bonus on monthly deposits and all the monthly deposits made by them are fully protected throughout the term, even if they wish to prematurely withdraw in the middle of the term.
The scheme offers waiver of future monthly deposits in the event of death of the family’s breadwinner (customer who has opened the Themaar Savings plan), while guaranteeing a lump-sum amount to the beneficiary on maturity of the savings plan.