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The Majestic Current Account with ORCO Bank’s complimentary Majestic ATM Card, includes a pre-approved overdraft facility, in addition to a pre-approved Gold Visa or Master Credit card.
An overdraft facility is available to customers with a current account at our bank in which regular deposits occur, to mention monthly deposits of salary. The interest rate is charged monthly.
With the Majestic Savings Account you earn interest at risk-free, fixed preferential rates. The interest rate is calculated daily and credited to the account monthly. No interest is calculated, if the balance is less than ANG 1,000.00.
We offer time deposits to customers who wish to invest a fixed amount for a fixed period of time. The interest rate depends on the term of the deposit. The term of a time deposit varies between 6 months and 5 years. The minimum deposit is between ANG 1,000.00 and ANG 10,000.00 depending on the term.
Please contact Orco Bank for further information.
Our Majestic Mortgage, tailor-made with favorable, adjustable interest rates, will make you feel right at home and becoming the Ruler of your Castle will be as easy as turning a key.
Mortgage loans are available to individuals for the purpose of building, buying, renovating or expanding a residential house. We also refinance existing mortgage loans. The repayment term is a maximum of 25 years, depending amongst other of the age of the borrower.
The most common types of mortgage loans we offer are:
- Annuity mortgage Loan (regular)
This loan is calculated using the annuity method where the capital and interest is amortized with fixed monthly installments.
This method is very popular because the installments are more affordable than the interest only mortgage method and the straight-line method and the monthly installments are fixed.
The annuity concept entails that in the beginning a large part will go to interest payment(tax deductible) and a smaller part to capital reduction. In the latter half of the mortgage term, the opposite occurs.
- Mortgage with life Insurance”Interest only mortgage”
This product allows you to make only the interest payments and the life insurance premiums during the term of the loan. The principal will be repaid in full upon the due date of the life insurance.
ORCO Bank’s Majestic Car Loan goes the extra mile and enables you to purchase your new car at a preferential interest rate, while paying it off in convenient installments.
Orco Bank issues regular and gold MasterCard cards and regular, gold and Platinum Visacards. The cards are denominated in USD and are accepted worldwide. Benefits include cash advances at ATM machines and financial institutions all over the world. Access to your credit card account information is now available 24 hours a day online via the category “my credit card online”.
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