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Meethaq
Neswa Savings Account
Overview

The Neswa Savings Account is a Shariah compliant savings product that understands the many roles women play in life and is designed to meet their needs. With unique features and benefits it makes their life easy and helps them pursue the goals that matter.

The account includes an exclusively designed Visa Debit Card which identifies the Neswa Savings Account holder; the card comes with advanced security features for day-to-day payments, cash withdrawals and to avail other features and benefits.

Growth of Savings

Meethaq will invest the cumulated deposit balances from Neswa Savings Account in its financing and investment products which provide an attractive profit return to the customer. The profit will be credited to the Neswa Savings Account on a monthly basis.

Protection Through Takaful

The product also comes with a complimentary Women’s Wellness Program which provides Takaful coverage as follows:

A. Life Cover

In the event of the death of the customer (female account holder) due to injury or illness, the Takaful company shall provide an amount of RO 10,000 to the assigned beneficiary in accordance to the terms and conditions of the policy.

B. Wallet/Handbag Cover/ Loss of Cards

In the event of the handbag of the customer (female account holder) getting accidentally lost or stolen anywhere in the world, the Takaful company will provide an amount up to RO 1,000 resulting from the loss reported as a result of misuse of the Credit Cards and/or Debit Cards (issued within Oman) in the handbag by an unauthorized person. However, only losses incurred within 48 hours prior to the time of the handbag being reported lost or stolen will be covered.

C. Loss of ID Cards/ Keys

In the event of the loss of ID Cards & Keys which were present in the handbag at the time of loss, the Takaful company will reimburse the cost involved in getting a duplicate keys and replacing the identification cards/papers like driving license, resident card, Takaful cards etc., subject to a maximum limit of RO 100.

  • Visa Debit Card with an ATM withdrawal limit of RO 800 and access to the largest network of ATMs and CDMs across Oman. Charges applied as per Meethaq tariff book.
  • Complimentary Takaful coverage under Woman’s Wellness Program which includes:
    • Life cover up to RO 10,000
    • Wallet/Handbag cover up to RO 1,000
    • Loss of ID Cards / Keys cover up to RO 100
  • Attractive profit rates paid on the average balance of the month.
  • Exclusive discount on Safe Deposit lockers up to 50% on annual locker rental charges for account holders meeting the product criteria; subject to locker availability
  • Exclusive discounts and offers at partner/merchant outlets.
  • Any female Omani citizen or resident, 18 years or above can open the account.
  • Minimum balance to be maintained to avail the product features is OMR 300 or a minimum salary transfer of OMR 500 or above.
  • The Neswa Account holder has to maintain an average balance of RO 1,000 or above to avail the Takaful coverage (Women’s Wellness Program) associated with the account.

How to apply?

What are the Takaful benefits in case of customer’s death?

What is the claim process?

How does the Neswa Savings Account work?

Can a customer have multiple accounts?

How is the Customer’s profit calculated?

What happens in case the customer is not meeting the minimum balance criteria?

What is Takaful?