Oman's Bank Sohar has informed that it has launched a unique deposit product entitled 'Ready Cash' in the domestic market. Company officials stated that, the product will allows Bank Sohar Customers to enjoy the benefits of earning a high interest return on their deposit together with instant access to funds through an overdraft facility.

According to company officials, the customer would get instant access to 'Ready Cash' through a 'Ready Cash' Overdraft Account. Further, this Overdraft Account would provide customers with an immediate overdraft facility to the value of 75% of the associated term deposit.

In addition, the 'Ready Cash' Overdraft Account will come with insurance cover the overdraft facility, a chequebook, a Visa Debit Electron Card to provide easy access to funds on a 24-hour basis.

The latest product will be available to all residents of Oman and minimum amount of deposit is RO1,000 and multiples there of. However, the interest would range from 5.5% for the minimum period of 12 months to 6% for 24 months and 6.75% for the maximum period of 60 months.