Bank Muscat. Better Everyday.
Total Amount in Sr No. Charge Type Charge Particulars Bank Charges VAT Amount OMR inclusive in OMR in OMR of VAT
Bank Charges
F062 Version: 1.7 / August / 2021
- 1 - Bank Muscat. Better Everyday.
Total Amount in Sr No. Charge Type Charge Particulars Bank Charges VAT Amount OMR inclusive in OMR in OMR of VAT
1 Savings Account
Per month (if balance falls 0.500 0.025 0.525 below OMR 100)
Salary below OMR 500 per Nil Nil Nil 1.1 Ledger Fees month
Account purpose to receive Nil Nil Nil pension or other social support allowance being granted by the Government
1.2 Foreign currency Per month, if balance falls 0.500 0.025 0.525 Account Ledger fees below to equivalent of 100 OMR
Eligibility & minimum balance 1.3 Interest* OMR 100. Paid on semi annual 0.50% N/A 0.50% basis
2 Current Account
Per month (if balance falls 0.500 0.025 0.525 below OMR 200)
Salary below OMR 500 per Nil Nil Nil 2.1 Ledger Fees month
Account purpose to receive Nil Nil Nil pension and other social support allowance being granted by the Government
2.2 Foreign currency Per month, if balance falls 0.500 0.025 0.525 Account Ledger fees below to equivalent of 200 OMR
10 leaves 1.000 0.050 1.050
2.3 Cheque Book 25 leaves 2.000 0.100 2.100 Charges 50 leaves 3.000 0.150 3.150 100 leaves 5.000 0.250 5.250
Returned for lack of funds 15.000 0.750 15.750
2.4 Cheque Return Charges Returned for other reasons 10.000 0.500 10.500
2.5 Stop Payment Per instruction (Single or Bunch 5.000 0.250 5.250 of cheques) for a day
Handling or post Dated 5.000 0.250 5.250 2.6 Post Dated Cheques Cheques (Per/ Cheque)
Individual 10.000 0.500 10.500 2.7 Removing Name from Caution List Corporate 20.000 1.000 21.000
3 Call Account
If balance falls below Monthly 3.1 Call Accounts Ledger Fees OMR 1,000 2.000 0.100 2.100
F062 Version: 1.7 / August / 2021
- 1 - Bank Muscat. Better Everyday.
Total Amount in Sr No. Charge Type Charge Particulars Bank Charges VAT Amount OMR inclusive in OMR in OMR of VAT
AED AED AED AED 10,000 50.000 2.500 52.500 USD USD USD USD 2,000 20.000 1.000 21.000 GBP GBP GBP GBP 2,000 15.000 0.750 15.750 EUR EUR EUR EUR 2,000 20.000 1.000 21.000
3.2 Interest* At agreed N/A At agreed rate rate
4 Other product specific ledger fee
Product / Segment Ledger fee particulars.Charged per month
4.1 Asalah Priority Non maintenance of eligibility 20.000 1.000 21.000 Banking criteria
4.2 Child/Minor/Shababi Ledger fees Nil Nil Nil Saving Account
Zeinah Savings Per month (if balance falls 0.500 0.025 0.525 4.3 Account below OMR 100)
Ledger Fees for Per month (if balance falls 2.000 0.100 2.100 4.4 Najahi below OMR 500)
Al Jawhar Privilege Non maintenance of eligibility 5.000 0.250 5.250 4.5 Banking criteria
5 Other Services
If account operated more than Nil Nil Nil 1 year 5.1 Account Closure If account closed within 1 year 3.000 0.150 3.150
If account has the minimum balance as per the product Nil Nil Nil
5.2 Dormant Accounts If account does not have the 1.000 0.050 1.050 minimum balance as per product. Charges are every 6 months
Monthly (Saving Account). 5.000 0.250 5.250 Charges in per annum Manual Bank Statement (other 5.3 Weekly (Saving Current Account). 20.000 1.000 21.000 than normal Charges in per annum periodicity as agreed) Daily (Saving/Current Account). 50.000 2.500 52.500 Charges in per annum
Up to 6 months 1.000 0.050 1.050 Duplicate / Past 5.4 Period of Bank Over 6 to 12 months 3.000 0.150 3.150 Statements Over 12 months 5.000 0.250 5.250
Up to 1 year (Per voucher/cheque) 2.000 0.100 2.100 Copies of Transaction 5.5 Proof/Paid Cheque Over 1 year (Per voucher/cheque) 3.000 0.150 3.150
Nil Liability 5.6 2.000 0.100 2.100 Certificate
6 Safe Deposit Lockers
6.1 Deposit (Refundable) 100.000 N/A 100.000
F062 Version: 1.7 / August / 2021
- 2 - Bank Muscat. Better Everyday.
Total Amount in Sr No. Charge Type Charge Particulars Bank Charges VAT Amount OMR inclusive in OMR in OMR of VAT
Small (Branches) 50.000 2.500 52.500
(Head Office) 150.000 7.500 157.500
Medium (Branches) 80.000 4.000 84.000 Charges per annum 6.2 (Head Office) (Not Refundable) 250.000 12.500 262.500 Large (Branches) 120.000 6.000 126.000
(Head Office) 300.000 15.000 315.000
Extra Large (Branches) 150.000 7.500 157.500
7 Salary Processing
Below 25 records by Micro Nil Nil Nil business Salary processing 7.1 via branches Up to 99 records 10.000 0.500 10.500
Above 99 records 20.000 1.000 21.000
8 Fixed Deposits
8.1 Interest* At agreed rate N/A
8.2 Premature Interest rate for Pre- Prevailing N/A Prevailing Withdrawal* mature Withdrawal Interest rate Interest rate applicable applicable for the for the completed completed deposit deposit period period reduced reduced by 1% by 1%
9 Themaar
9.1 Themaar Saving On maturity* FD rate N/A FD rate Plan Interest* minus 1% minus 1%
Less than 1 year, no interest 5.000 0.250 5.250 payment Pre closure of Prevailing FD Prevailing FD 9.2 Themaar Saving Plan More than 1 year Interest* rate minus N/A rate minus (Cancelation) 1%, less 1% 1%, less 1% penal interest penal interest
More than 1 year fees 3.000 0.150 3.150
Less than 1 year* No interest N/A No interest payment payment
Pre closure of Saving Prevailing N/A Prevailing More than 1 year* Interest rate Interest rate 9.3 Plan (HESP, RSP) applicable applicable (Cancelation) for the for the completed completed deposit deposit period period reduced reduced by 1% by 1%
10 Debit Card
First card fee Nil Nil Nil Visa Debit Card (for individual Additional card issuance fee 2.000 0.100 2.100 accounts) Annual fee 1.000 0.050 1.050
10.1 Wearable Shababi Debit Card 5.000 0.250 5.250 For technical reasons Nil Nil Nil Replacement For lost / stolen / damaged 2.000 0.100 2.100 Wearable Shababi Debit Card For technical reasons/lost/stolen/damaged 5.000 0.250 5.250
F062 Version: 1.7 / August / 2021
- 3 - Bank Muscat. Better Everyday.
Total Amount in Sr No. Charge Type Charge Particulars Bank Charges VAT Amount OMR inclusive in OMR in OMR of VAT
New card fee 2.000 0.100 2.100
Najahi Debit Card for Business Annual fee 2.000 0.100 2.100 Customer Additional card issuance fee 2.000 0.100 2.100 10.2 For technical reasons Nil Nil Nil Replacement For lost / stolen / damaged 2.000 0.100 2.100
Balance inquire fee within Bank Nil Nil Nil Muscat ATM
Balance inquire fee within other 0.050 0.003 0.053 Banks in Oman
10.3 ATM Transactions (Balance Inquire) Balance inquire fee within other Banks in GCC 0.300 0.015 0.315
Balance inquire fee with International ATM Nil Nil Nil
Cash withdrawal within Bank Muscat Nil Nil Nil
Cash withdrawal within other Banks in Oman 0.100 0.005 0.105 ATM Transactions 10.4 (Cash Withdrawal) Cash withdrawal within other Banks in GCC 0.800 0.040 0.840
Cash withdrawal with International ATM 1.500 0.075 1.575
10.5 ATM/Debit Card Forex Markup Fees* 2.5% N/A 2.5%
OmanNet Account to 10.6 Per transaction charges to Sender 0.200 0.010 0.210 Account Transfer to OmanNet Debit Card
11 Prepaid Card
Issuance Fee 2.000 0.100 2.100
Replacement Card 5.000 0.250 5.250 Fee
Annual 1.000 0.050 1.050 Maintenance Fee
Recharge / Reload 0.100 0.005 0.105 Fee 11.1 ATM Balance Inquiry 0.050 0.003 0.053 Fee
ATM Cash Withdrawal 0.100 0.005 0.105 Oman Net
ATM Cash Withdrawal 0.800 0.040 0.840 GCC Net
ATM Cash Withdrawal 1.500 0.075 1.575 International Fee
Cancellation Fee Nil Nil Nil
Refund Fees 1.000 0.050 1.050
F062 Version: 1.7 / August / 2021
- 4 - Bank Muscat. Better Everyday.
Total Amount in Sr No. Charge Type Charge Particulars Bank Charges VAT Amount OMR inclusive in OMR in OMR of VAT
Forex Markup Fees* On Actual transaction value 2.5% N/A 2.5%
Dormancy Fee Per Month 2.000 0.100 2.100
12 Remittances
12.1 Pay Order Commission 2.000 0.100 2.100
Issuance 2.000 0.100 2.100
Draft (Foreign 12.2 Stop payment, Correspondent Bank 3.000 0.150 3.150 currency) charges extra on actual
Cancellation at Bank’s buying rate 2.000 0.100 2.100
RTGS (Local) 4.250 0.213 4.463
ACH (Local) 1.000 0.050 1.050 Outward Telex 12.3 Charges Other Countries. Other Bank 5.000 0.250 5.250 charges (SHA) on actual charges our payments (OURS) 15.000 0.750 15.750
Inquiries/Investigation Fees 15.000 0.750 15.750
12.4 Mail Transfer 1.000 0.050 1.050
Setup Nil Nil Nil 12.5 Standing Instruction Between Bank account for same Nil Nil Nil client or child account
Between Bank account for 0.500 0.025 0.525 different client
ACH (Local) 1.000 0.050 1.050 Standing Instruction 4.250 0.213 4.463 12.6 Account to Account RTGS (Local) transfers Outside the Bank (foreign) + Other Bank charges (SHA) 5.000 0.250 5.250 on actual
Outside the Bank (foreign) OURS 15.000 0.750 15.750
INR Remittances to India 1.500 0.075 1.575
INR Remittances to India (IMPS) 2.000 0.100 2.100
PHP Remittances to Philippines 1.500 0.075 1.575
LKR Remittances to Srilanka 1.500 0.075 1.575 12.7 Speed Transfers PKR Remittances to Pakistan 1.500 0.075 1.575
BDT Remittances to Bangladesh 1.500 0.075 1.575
Inquiries/Investigation Fees 5.000 0.250 5.250
Our Customer Fee Nil Nil Nil
Non BM customer to Local Banks 5.000 0.250 5.250 Inward Telex Transfer 12.8 OMR Payment Non BM customer to International 10.000 0.500 10.500 (VOSTRO) Bank+ Other Bank charges on actual Amendment 15.000 0.750 15.750
Cancelation 15.000 0.750 15.750
Inward Telex Transfer Our Customer Fee Nil Nil Nil 12.9 FCY PAYMENT (NOSTRO) Non BM customer to Local Banks 5.000 0.250 5.250
F062 Version: 1.7 / August / 2021
- 5 - Bank Muscat. Better Everyday.
Total Amount in Sr No. Charge Type Charge Particulars Bank Charges VAT Amount OMR inclusive in OMR in OMR of VAT
Non BM customer to International 10.000 0.500 10.500 Bank
Amendment 15.000 0.750 15.750
Cancelation 15.000 0.750 15.750
13 Collections
13.1 Cheques for collection Other GCC Currencies 10.000 0.500 10.500
Our Customers Nil Nil Nil Vostro Cheque 13.2 Payment Non Customers 5.000 0.250 5.250
Vostro in case returned 13.3 for insufficient funds Our Customers 15.000 0.750 15.750
Direct Debit 13.4 Arrangements Per Transaction 1.000 0.050 1.050
Finance Co. 13.5 Per Transaction As per +5% VAT As agreed Cheque Collection agreed rate + 5% VAT
14 Bill Collection (OIFC, Ooredoo, etc.)
Charges per bill Pyment through Call Centre/ ATM/ Nil Nil Nil 14.1 Cash Deposit Machine/Branch
14.2 Cash Payment at branch counter Bank Muscat Account Holders Nil Nil Nil
LOAN PRODUCTS & CREDIT CARDS
15 Consumer Loans, Housing Loan Baituna, Auto Loans
15.1 Interest* As per N/A As per agreed rate agreed rate
15.2 Processing Fee 25.000 1.250 26.250
15.3 Deferment of Loan 5.000 0.250 5.250 installments*
Special waiver other 15.4 5.000 0.250 5.250 than Eid
Pre-payment of 15.5 outstanding loan On amount prepaid 1.000% 0.050% 1.050% before due date
15.6 Rescheduling of Loan 5.000 0.250 5.250
15.7 Top up loan processing 5.000 0.250 5.250
15.8 Overdue Interest* On overdue amount and for 1% Over N/A 1% Over overdue period only agreed rate agreed rate
Housing Loan Baituna
15.9 Interest* As per N/A As per agreed rate agreed rate
15.10 Processing Fee 50.000 2.500 52.500
F062 Version: 1.7 / August / 2021
- 6 - Bank Muscat. Better Everyday.
Total Amount in Sr No. Charge Type Charge Particulars Bank Charges VAT Amount OMR inclusive in OMR in OMR of VAT
15.11 Deferment of Loan Per request (Subject to HO N/A N/A N/A installments* approval)
Pre-payment of 15.12 outstanding loan on amount prepaid 1.000% 0.050% 1.050% before due date
1% over 1% over 15.13 Overdue Interest* On overdue amount and for N/A overdue period only agreed rate agreed rate
Auto Loans
As per As per 15.14 Interest* N/A agreed rate agreed rate
15.15 Processing Fee 25.000 1.250 26.250
15.16 Deferment of Loan Nil Nil Nil installments*
Pre-payment of 15.17 outstanding loan on amount prepaid 1.000% 0.050% 1.050% before due date
1% over 1% over 15.18 Overdue Interest* On overdue amount and for N/A overdue period only agreed rate agreed rate
0.05% flat min 0.003% min 0.053% min 15.19 Bank charges for BCL On loan amount (applicable for OMR 5.000, OMR 0.250 OMR 5.250, Insurance product Consumer, Auto & Home loan) Maximum Maximum Maximum OMR 75.000 OMR 3.750 OMR 78.750
16 Pensioner Loan Restructuring
16.1 Processing fee 15.000 0.750 15.750
17 Credit Cards
Visa Classic / 10.000 0.500 10.500 MG Standard (Primary)
Processing fee 5.000 0.250 5.250
Visa Premier / 15.000 0.750 15.750 MC Gold (Primary)
Supplementary 5.000 0.250 5.250
MC Platinum (Primary) 100.000 5.000 105.000
Supplementary Nil Nil Nil
17.1 Annual Fee Visa / MC Corporate executive 30.000 1.500 31.500 Business
Visa / MC Corporate 25.000 1.250 26.250 Standard
Visa / MC Corporate purchasing 10.000 0.500 10.500
Najahi Standard 50.000 2.500 52.500
Najahi Plus - (Paid once when 150.000 7.500 157.500 opening account)
Visa-Infinite (Primary) 120.000 6.000 126.000
Supplementary 35.000 1.750 36.750
F062 Version: 1.7 / August / 2021
- 7 - Bank Muscat. Better Everyday.
Total Amount in Sr No. Charge Type Charge Particulars Bank Charges VAT Amount OMR inclusive in OMR in OMR of VAT
Bank Muscat Oman Air 15.000 0.750 15.750 Card (Primary)
Supplementary 5.000 0.250 5.250
Visa Signature Credit Card 50.000 2.500 52.500 (Primary)- (First year free)
Supplementary 10.000 0.500 10.500
Lulu MC Credit Platinum 10.000 0.500 10.500 (Primary)
Supplementary 5.000 0.250 5.250 17.1 Annual Fee
Visa Infinite Private Nil Nil Nil Banking (Primary)
Supplementary Nil Nil Nil
Al Jawher Visa 30.000 1.500 31.500 Platinum (Primary)
Supplementary 5.000 0.250 5.250
Computed on the average daily outstanding balance for the 17.2 Interest* amount outstanding from the 1.5% p.m. N/A 1.5% p.m. transaction posting date until fully paid
Replacement (for 17.3 lost / stolen / 10.000 0.500 10.500 damaged card)
17.4 Cash Advance Fee Per transaction, Which every is 3% or +5% VAT As agreed higher OMR 3 + 5% VAT
17.5 Late Payment Fee Charge per month 5.000 0.250 5.250
17.6 Over Credit Limit Fee Irrespective of the overdrawn 5.000 0.250 5.250 amount
17.7 Copy of Sales Per voucher (applicable only to 3.000 0.150 3.150 Voucher disputed transactions)
17.8 Forex Markup Fees* 2.5% N/A 2.5%
18 Credit Administration
18.1 Registration of 25.000 1.250 26.250 Legal Mortgage
Creation or Renewal 18.2 of Commercial 100.000 5.000 105.000 Mortgage
18.3 Release of Legal 50.000 2.500 52.500 Mortgage
18.4 Release of Joint per request for release of shares 25.000 1.250 26.250 Registration of Shares
18.5 Pledge of Share per request for pledge of shares 25.000 1.250 26.250
F062 Version: 1.7 / August / 2021
- 8 - Bank Muscat. Better Everyday.
Total Amount in Sr No. Charge Type Charge Particulars Bank Charges VAT Amount OMR inclusive in OMR in OMR of VAT
18.6 Documentation 250.000 12.500 262.500 Charges
1% of Total 0.05% of 1.05% of Sanction of 1% of Total amount. Minimum Total Total 18.7 New Loans OMR 250 amount. Min 250.000 Amount Amount Min 12.500 Min 262.500
18.8 In-Principle Applicable on a case to case basis 1000.000 50.000 1050.000
Capital Capital Capital Facilities Facilities Facilities Renewing of 0.05% of 0.003% of 0.053% of 18.9 Working facility facility facility amount amount amount subject to Min subject to Min subject to Min OMR 250.000 OMR 12.500 OMR 262.500
0.1% of new/ 0.005% of 0.105% of Sanction of New/ enhanced new/ new/ Enhancement in facility enhanced enhanced 18.10 Working Capital amount facility amount facility amount subject to Min subject to Min subject to Min Facilities OMR 250.000 OMR 12.500 OMR 262.500
18.11 Charges for Transactions / Services
18.12 Issue of STL/Rollover 10.000 0.500 10.500 of STL
Extension of due 18.13 dates of Term Loan 10.000 0.500 10.500 installments
TOD/Adhoc LC/LTR/ 0.05% 0.003% 0.053% Adv(O) (sanctioned Subject to Subject to Subject to 18.14 over & above a Min of a Min of a Min of approved limits) OMR 50.000 OMR 2.500 OMR 52.500
18.15 Interchangeability 25.000 1.250 26.250 of limits
Interchangeability of 18.16 limits by group/ 25.000 1.250 26.250 related company
18.17 Temporary release of Charges on per release 10.000 0.500 10.500 securities
Delay in return of the securities(after a 18.18 grace Charges per month 10.000 0.500 10.500 period of 1 month from agreed date)
18.19 Permanent release of 50.000 2.500 52.500 securities
OMR OMR OMR 1.250 25.000 26.250 Non submission of p.m. or 18.20 p.m. or p.m. or audit reports by due part part part dates thereof thereof thereof
Charges for delay in 18.21 submission of 10.000 0.500 10.500 progress reports
Waiver of Standard Security condition 18.22 25.000 1.250 26.250 (Valuation, Insurance etc.)
F062 Version: 1.7 / August / 2021
- 9 - Bank Muscat. Better Everyday.
Total Amount in Sr No. Charge Type Charge Particulars Bank Charges VAT Amount OMR inclusive in OMR in OMR of VAT
Delay in submission of valuation report/copy 18.23 of insurance policy Charges per month 10.000 0.500 10.500 beyond the agreed date
19 Global Trade Services
Letter of Credit ١.19
19.2 Import L/C
(Min period (Min period (Min period 3 months) + 3 months) + 3 months) + Swift Swift Swift charges- charges - charges - 19.3 Opening Commission 0.125% per 0.006% per 0.131% per Month Min Month Min Month Min OMR 20.000 OMR 1.000 OMR 21.000
Full 25.000 1.250 26.250
19.4 Swift Charges Brief 12.000 0.600 12.600
Postage 2.000 0.100 2.100
Gulf Countries 20.000 1.000 21.000 19.5 Courier Others 25.000 1.250 26.250
20 Amendments
0.125% p.m. 0.006% p.m. 0.131% p.m. Min OMR Min OMR Min OMR 10.000 0.500 10.500 Increase in amount - 20.1 Commission Swift 10.000 0.500 10.500
Postage 2.000 0.100 2.100
0.125% p.m. 0.006% p.m. 0.131% p.m. 20.2 Extension in Validity Min OMR Min OMR Min OMR 10.000 0.500 10.500
Acceptance
Commission Commission Commission 20.3 Local/Dubai Banks 2.5% p.a on 0.125% p.a 2.625% p.a tenure on tenure on tenure
Commission Commission Commission Other Countries 1.5% p.a on 0.075% p.a 1.575% p.a tenure on tenure on tenure
20.4 Cancellation of Commission + swift charges 10.000 0.500 10.500 Unutilised L/C (if any)
On negotiation covered through other Banks. (LC opened by us but 0.25% flat 0.013% flat 0.263% flat 20.5 Exchange Commission covered through another Bank) Min OMR Min OMR Min OMR - 0.25% flat Minimum OMR 10 10.000 0.500 10.500
Discrepant Documents 20.6 Fee (payable by the Actual out of pocket expenses USD USD USD beneficiary) (Swift cost, etc.) 60.000 3.000 63.000
0.125% per 0.006% per 0.131% per Month every Month every Month every 20.7 Revolving L/C renewal min renewal min renewal min OMR 20.000 OMR 1.000 OMR 21.000
F062 Version: 1.7 / August / 2021
- 10 - Bank Muscat. Better Everyday.
Total Amount in Sr No. Charge Type Charge Particulars Bank Charges VAT Amount OMR inclusive in OMR in OMR of VAT
21 Export L/C
21.1 Advising L/C
21.2 Pre Advice Commission 10.000 0.500 10.500
21.3 Final Advice Commission 10.000 0.500 10.500
Advising 21.4 Amendments Commission 8.000 0.400 8.400
Commission may vary (plus or As per As agreed +5% VAT 21.5 Adding Confirmation minus) depending upon Bank risk agreed rate + 5% VAT and country risk.
Commission Commission commission- 0.25% per quarter 0.013% flat 21.6 Sight L/C 0.25% flat Min OMR 0.263% flat Minimum OMR 20 Min OMR 1.000 Min OMR 20.000 21.000
Commission Commission Commission commission- 5% per quarter Mini- - 5% flat - 0.25% flat - 5.25% flat 21.7 Usance L/C mum OMR 20 Min OMR Min OMR Min OMR 20.000 1.000 21.000
Commission - minimum + actual As per As agreed +5% VAT 21.8 Transferable L/C cost - 0.25% flat instead of 0.25% agreed rate + 5% VAT Minimum OMR 50
Negotiation and Commission Commission Commission Acceptance (Other Commission- 5% flat Minimum - 5% flat - 0.25% flat - 5.25% flat 21.9 OMR 20 Min OMR Min OMR Min OMR Banks) 20.000 1.000 21.000
Reimbursement commission 15.000 0.750 15.750
22 Export Bills Discounting
22.1 Interest* 10.75% N/A 10.75%
22.2 Commission Usance bills 0.250% 0.013% 0.263%
GCC countries 20.000 1.000 21.000 22.3 Courier Charges Others 25.000 1.250 26.250
22.4 Swift Charges 15.000 0.750 15.750
23 Collections
23.1 Documentary bills
0.125% flat 0.006% flat 0.131% flat Sight Min OMR Min OMR Min OMR 10.000 0.500 10.500
0.25% flat 0.013% flat 0.263% flat Usance Min OMR Min OMR Min OMR 23.2 Inward / Outward 10.000 0.500 10.500
Swift charges 7.000 0.350 7.350
Postage 2.000 0.100 2.100
Reminder 2.000 0.100 2.100
Gulf 20.000 1.000 21.000 23.3 Courier Others 25.000 1.250 26.250
Extension of LTR/Adv 23.4 (0) beyond the due 5.000 0.250 5.250 date
F062 Version: 1.7 / August / 2021
- 11 - Bank Muscat. Better Everyday.
Total Amount in Sr No. Charge Type Charge Particulars Bank Charges VAT Amount OMR inclusive in OMR in OMR of VAT
24 Guarantees
Per month (Min. 3 0.006% p.m. 0.131% p.m. 24.1 Tender bonds (Bid months) - Min OMR Min OMR bonds) 0.125% Min 1.000 21.000 OMR 20.000
Per month (Min. 3 0.006% p.m. 0.131% p.m. 24.2 Performance bonds months) - Min OMR Min OMR 0.125% Min 1.000 21.000 OMR 20.000
(Min. 3 (Min. 3 (Min. 3 Advance Payment (Min. 3 months) - 1.5% p.a months) - months) - months) - 24.3 1.5% p.a 0.075% p.a 1.575% p.a Guarantee Minimum OMR 20 Min OMR Min OMR Min OMR 20.000 1.000 21.000
Commission Commission Commission Payment & Financial Commission - 2.4% p.a Minimum 24.4 - 2.4% p.a - 0.120% p.a - 2.520% p.a Guarantees OMR 20 Min OMR Min OMR Min OMR 20.000 1.000 21.000
Open Ended 24.5 Commission - additional 0.250% 0.013% 0.263% Guarantees p.a p.a p.a
Shipping Guarantees (For missing Bill of Lading & 24.6 10.000 0.500 10.500 & AWB Guarantees Airway Bills - Margin 100%)
Amendments to 24.7 Guarantees
Increase in amount 1.5% to 0.075% to 1.575% to a. (As per Guarantee Type) 2.5% p.a 0.125% p.a 2.625% p.a
0.125% p.m. 0.006% p.m. 0.131% p.m. b. Extension in validity Min OMR Min OMR Min OMR 10.000 0.500 10.500
Other amendments / 10.000 0.500 10.500 c. additions
24.8 Settlement of Claims 10.000 0.500 10.500
Transmission of 24.9 Guarantees to other Banks
a. Air Mail 2.000 0.100 2.100
b. Swift - outside GCC (Minimum) 20.000 1.000 21.000
c. GCC countries (Minimum) 15.000 0.750 15.750
Gulf 20.000 1.000 21.000 d. Courier Others 25.000 1.250 26.250
25 Others
a. Providing 10.000 0.500 10.500 25.1 Credit/Other Reports b. Obtaining 10.000 0.500 10.500
1- Standard letter 20.000 1.000 21.000
2- Letter for registration issued to PDO/Tender Board/Others 50.000 2.500 52.500 Reference Letters 25.2 (These charges are a case to case basis) 3- Letters indicating our willingness to consider project 100.000 5.000 105.000 facilities
F062 Version: 1.7 / August / 2021
- 12 - Bank Muscat. Better Everyday.
Total Amount in Sr No. Charge Type Charge Particulars Bank Charges VAT Amount OMR inclusive in OMR in OMR of VAT
Audit Balance 25.3 15.000 0.750 15.750 Confirmation
on Case to +5% VAT As agreed 25.4 Bulk Cash Deposit Case basis +5% VAT
26 Merchant Services
Max 1.5% or Bank Private sector Merchant OMR 10.000 per +5% VAT Charges+ transaction 5% VAT whichever is lower. Max 1% or Bank OMR 5.320 per +5% VAT Merchant Discount Government Merchant transaction Charges+ whichever is lower. 5% VAT 26.1 Rate for Oman Issued debit card transactions. Exchange company Merchants Txn OMR +5% VAT Bank value Max Charges+ on Bank Muscat Debit card 5% VAT transaction only Up to 0.350 1,000
1,001 – 0.750 5,000 Above 5,000 1.000
As per agreed +5% VAT As agreed + Merchant Discount Rate Private Sector Merchant rate 5% VAT 26.2 for other card transactions As agreed + Government Merchants Max 1% +5% VAT 5% VAT Merchant Joining,Monthly, 26.3 Minimum volume fees Nil Nil Nil
Terminal activation, monthly, Nil Nil Nil 26.4 minimum volume fees
Private sector Merchant on transaction Max 0.75% or Bank min 30 Baisa +5% VAT Charges+ value Merchant Discount Rate for per transaction 5% VAT 26.5 QR/ MPCSS transactions Max 0.75% or Bank Government Merchant min 30 Baisa / +5% VAT Charges+ max OMR 1.000 5% VAT per transaction
Notes: - Bank Muscat reserves the right to change the charges at any given time.
- Inline with Oman Value Added Tax law effective from 16 April 2021, VAT at the rate of 5% will be levied on Bank Muscat fees and Bank charges specified above, whenever applicable as per the VAT Oman Law.
- The above total amount as fees and charges are inclusive of VAT as per the Oman VAT Law.
- Incase the services provided to the customers residing outside Oman it may be subject to VAT at 0% (incase certain legislative requirements are met).
- The VAT amount and total amount are rounded off to nearest three decimal points for representa- tion and VAT amount represents 5% of amount charged.
- N/A: Not Applicable
*According to Article 47 of Oman VAT Law, the financial services/ margin based charges are Exempt from VAT charges.
For Updated Version Scan Here
F062 Version: 1.7 / August / 2021
- 13 -