Muscat: Demonstrating an unwavering commitment to its valued clientele, the National Bank of Oman (NBO) underscores the availability of its Retiree Account, a tailor-made financial offering designed to address the distinct needs of both Omani nationals and expatriates as they near their retirement years. The Retiree Account guarantees a secure and protected retirement for seniors, showcasing NBO’s commitment to nurturing the financial aspirations of the community. Giving paramount importance to both pre- and post-retirement planning and security, this specialised account is designed to empower individuals to achieve their financial goals, be it wealth creation or ensuring a risk-free and comfortable retirement.
“At NBO, we underscore the significance of financial inclusion to address the diverse needs of our customers. We believe in elevating the financial well-being of our customers at every life stage. The Retiree Account aims to customise financial solutions specifically for the unique needs and concerns of those approaching retirement, ensuring peace of mind during this pivotal life transition. It reflects our commitment to staying abreast of market developments, creating substantial value, and making a positive impact on the lives of our customers,” stated Maha Al Raisi, Assistant General Manager and Head of Retail Products.
The account offering aligns with Oman’s new Social Protection Fund, whereby Omani retirees are granted a secure monthly pension of OMR 115 as comprehensive support disbursed upon reaching the age of 60 years. The Retiree Account, available to retirees irrespective of their age, functions as a holistic financial solution.
The Retiree Account from NBO presents a variety of financing options, encompassing new, buyout, and top-up loans. An additional advantage is the extended maximum repayment period, reaching up to the age of 70. This guarantees that retirees have access to crucial funds precisely when they require them the most.
Furthermore, retirees can take advantage of the savings account with daily interest, providing a stable and reliable source of income. NBO extends its support by providing retirees with a complimentary credit card for the initial year, streamlining expense management. Significantly, eligibility for the credit card has been expanded to encompass individuals up to the age of 70, guaranteeing sustained financial flexibility for retirees.
Alongside its commitment to retirees, NBO’s Retiree Account offers a spectrum of pre- and post-retirement advantages. Retirees can leverage dedicated wealth advisors providing personalised guidance to navigate their financial journey seamlessly.
Access to an extensive array of investment solutions, such as Systematic Investment Plans (SIP), empowers individuals to initiate wealth building with as little as OMR 100 per month. Additionally, retirees have the opportunity to diversify their portfolios by investing in both global and local markets, ensuring a well-balanced and sustainable approach to wealth creation.
