Maisarah Islamic Banking Services

Children Account

We know the importance of instilling a culture of saving in our children from a young age. By opening a children's account with Maisarah Islamic Banking Services, you can teach your children the importance of saving and help them develop financial skills that will benefit them throughout their lives. You can also start a savings plan for your children's future, whether you want to save for their education or for other short- and long-term goals. This account offers a safe and reliable way to do so. Below are the features of the account:

New born to less than 13 years old
Monthly profits paid on the average monthly balance, as the account is based on the Islamic concept of Mudarabah.
No minimum balance is required to open the account.
No fees for minimum balance.
The account helps children benefit from the monthly social protection program.
Instant issuance of a direct debit card.
Free standing instruction

Start securing your children's future today with the Children's Account from Maisarah Islamic Banking Services and take advantage of the features and benefits that help you save and invest for your children's future.

Frequently Asked Questions

Who can open a Children's Account?: A father or guardian can open a Children's Account for his/ her child, as long as the child is under age group of (new born – less than 13).
What is sharia structure for Children and Minor accounts:: It is a saving account based on Mudarabah structure.
Do I get profit on Children’s account?: Yes, because it’s based on Mudarabah. The profit is based on monthly average balance.
What is the minimum balance required to open a Children's Account?: No minimum balance is required.
What are the documents required to open a Children’s account?: Passport copy / National ID and Birth certificate of the child.
Father/legal guardian’s ID if Omani
Proof of address, you may use an electricity bill or water bill.
For non-Omani, Customer Resident ID and a copy of the passport visa page
Is there any restriction on withdrawing the deposit from the Children's Account?: No, there’s no restrictions.
Will the bank issue a debit card for Children's Account holders?: Yes, we issue debit cards for Children's accountholders with the father/guardian’s name printed on it.
Can I open a joint Children's Account?: No, it is not possible to open a Children's Account as a joint account.
Is there any minimum balance fees to be charged by bank?: No, there is no minimum balance fees on children and Minor accounts.
Any products/features available to assist the account holder achieving saving plans for him/her child?: Yes, free standing instruction can be used to achieve financial and saving plan goals for child’s future

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