STATE BANK OF INDIA, MUSCAT is a member of Bank Deposits Insurance Scheme (BDIS) (BDIS) through which all deposits in the bank are insured. The same is part of Central Bank of Oman's safety net to protect depositor and has been in Oman since 1995.
It boost confidence in the banking system in Oman and helps in cultivating a savings culture among the general public.
Deposits Coverage: The deposits shall be eligible for compensation if they are Savings deposits, Current accounts, Call deposits, Time deposits, Government deposits, Trust & Pension funds deposits, and other deposits specified by Central Bank. The current ceiling of the reimbursement is at R.O. 20,000/-.
BDIS protection is extended to all depositors free of charge and reimburses them up to RO 20,000 in any deposit without delay in the unlikely event of a banking system failure. Joint account holders will be reimbursed separately according to their share in the account and subject to the maximum cap of RO 20,000 for an account. All depositors in licensed banks operating in Oman are covered by the BDIS safety net of CBO.