Compare Fixed Deposits in Oman

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20 live offers compared from 15 providers, from OMR 2.50. Updated daily.

What is a fixed deposit in Oman?

A fixed deposit — also called a term deposit — locks a lump sum with a bank for an agreed period in return for a set return, higher than an ordinary savings account. In Oman it comes in conventional form, paying a fixed interest rate, and Islamic form, where a Sharia-compliant Wakala or Mudaraba structure delivers a profit share rather than interest. It suits savers who can set money aside for a fixed term and want a predictable, low-risk return in Omani rial.

How the Omani market works

Fixed deposits are offered by banks licensed and supervised by the Central Bank of Oman (CBO), which oversees both conventional and Islamic banks. Terms typically range from one month to several years, with longer terms generally paying more. Islamic banks and windows offer profit-sharing term products as an alternative to interest-bearing deposits. Deposits are held in Omani rial, though foreign-currency term deposits exist. Early withdrawal usually forfeits some or all of the return, so the funds should be genuinely surplus for the term.

Benefits

Predictable return — A fixed rate or agreed profit share is known at the outset, aiding planning.

Higher than savings — Term deposits typically pay more than instant-access savings accounts.

Islamic option — Sharia-compliant profit-sharing deposits for those avoiding interest.

Low risk — Capital sits with CBO-regulated banks, making it a conservative choice.

How to choose

Match the term to how long you can lock the money away, since early withdrawal usually costs you return. Compare the interest rate or expected profit rate across banks for the same term, and check the minimum deposit required. Decide between conventional and Islamic profit-sharing deposits, and confirm whether returns are paid periodically or at maturity. Check renewal terms — whether the deposit auto-rolls — and read the early-withdrawal penalty before committing your funds.

Leading providers in Oman

Bank Muscat, National Bank of Oman, Bank Dhofar, Sohar International and Ahlibank Oman offer conventional term deposits, most also with Islamic-window profit-sharing products (such as Meethaq at Bank Muscat). Bank Nizwa provides dedicated Sharia-compliant term deposits. Other banks including Investbank compete on rates. Because rates for the same term differ between banks, compare the return, minimum deposit and early-withdrawal terms across several before locking in your money.

What it costs

A fixed deposit has no fee to open; the relevant figure is the return you earn. Indicative rates in Oman fall in the low single digits, with the brief citing roughly 2.5% to 4% depending on term and amount — longer terms and larger sums generally pay more. Islamic deposits quote an expected profit rate rather than a guaranteed interest rate. Oman charges no personal income tax, so returns are not taxed. The main cost is the penalty for early withdrawal.

Protections and regulation

The Central Bank of Oman regulates the banks offering fixed deposits, setting prudential and conduct standards. Islamic term deposits are additionally supervised for Sharia compliance, and their returns are profit-shares that, while typically stable, are not guaranteed in the same way as fixed interest. Confirm the term, rate or expected profit, and early-withdrawal penalty in writing, and keep the deposit certificate. Ensure you will not need the funds before maturity, since accessing them early reduces your return.

Common questions

How long must I lock the money? Terms range from about one month to several years — you choose. Can I withdraw early? Usually yes, but you forfeit some or all of the return. What is an Islamic fixed deposit? A Sharia-compliant profit-sharing term product instead of interest. Are returns taxed? No — Oman levies no personal income tax. Is my capital safe? Deposits sit with CBO-regulated banks, making term deposits a low-risk choice.

Fixed-Rate Deposits in Oman — FAQ