Personal Banking

Deposit

Deposit accounts can be opened singly or jointly with other depositors. Companies, Sole proprietors, social organization and trust can also open Deposit type of accounts

Specific documents such as NRC for individuals and for companies license, registration certificate, board resolution, signatory authorizations are required to open accounts.

There additional documents bank would prescribe depending upon the product and customer category

Savings Accounts ∨
Current Accounts ∨
Fixed Deposits ∨
Foreign Currency Accounts ∨
Call Deposit ∨

Savings Bank is an interest bearing account used to park short term surplus fund. Amount can be withdrawn from branch by producing the pass book or the account can be linked to current/ATM account.

Features and facilities:

Interest Rate	:	6%
Initial Deposit	:	MMK 1000
Minimum Balance	:	MMK 1000
Interest Calculation	:	Monthly interest calculated on minimum balance between 5th and last day of the month and applied on quarterly basis
Pass Book	:	Yes
Cheque Book	:	No
ATM Card	:	Yes
Internet Banking	:	Yes
Mobile Banking	:	Yes

Current Account is non interest bearing account primarily used for business/commercial purpose

Involving multiple withdrawals using cheques

Features and facilities

Interest Rate	:	Nil
Initial Deposit	:	MMK 1000
Minimum Balance	:	MMK 1000
Pass Book	:	No
Cheque Book	:	Yes
ATM Card	:	Yes
Internet Banking	:	Yes
Mobile Banking	:	Yes

Under Fixed Deposit, the amount is deposited for a fixed term. The interest rate would be normally higher than the saving bank interest rate. The rate would differ depending upon the duration of the deposit.

Features and facilities:

Interest Rate	:	7% for 1 month 7.25% for 3 month 7.5% for 6 month 7.6% for 9 month 8% for 1 year and more
Minimum Deposit	:	Any Amount
Pass Book	:	No
Cheque Book	:	No
ATM Card	:	No
Internet Banking	:	Yes
Mobile Banking	:	No

Foreign Currency Account can be opened by Individuals and non-individuals. Foreign entities can also open Foreign Currency Account. Specific documentations as prescribed by the bank have to be provided in such cases. Bank permits USD, EUR & SGD currencies for Foreign Currency Accounts.

Features and facilities:

Interest Rate	:	Nil
Initial Deposit	:	USD 100 or equivalent
Minimum Balance	:	USD 100 or equivalent
Pass Book	:	Yes
Cheque Book	:	Yes
ATM Card	:	No
Internet Banking	:	No
Mobile Banking	:	No

Call deposit earns interest on a daily closing balance. There is no restriction on the number of withdrawals or deposit in this account. The account can be linked to current/ATM account.

Features and facilities:

Interest Rate	:	4% below Kyat 10 Million 4% above Kyat 10 Million
Interest Calculation	:	Interest on the accumulated closing balance
Minimum Deposit	:	Any Amount
Pass Book	:	Yes
Cheque Book	:	No
ATM Card	:	No
Internet Banking	:	Yes
Mobile Banking	:	No
Document Required	:	-
Fees and Charges	:	-