UESS DEPOSIT ACCOUNT
SU BOO SAVINGSS ACCOUNT
ANAR GAT SAVINGSS ACCOUNT
AYEIN SAR SAVINGSS ACCOUNT
UESS DEPOSIT ACCOUNT
UNIVERSITY EDUCATION SAVINGS SCHEME (UESS) DEPOSIT ACCOUNT
Savings account for children’s higher education.
College scholarship awarded by MOB to support traditional university scholarships and cultivate the future of Myanmar’s youth.
Product Features
- 6.25% p.a interest rate. (Between 10,000 and 10,000,000)
- Minimum savings of 5,000 kyats up to maximum savings of 100,000 kyats.
Five types of UESS Accounts:
UESS 1
K 5,000 deposit per monthUESS 2
K 6,000 deposit per monthUESS 3
K 7,000 deposit per monthUESS 4
K 8,000 and 9,000 deposit per monthUESS 5
K 10,000 & above deposit per monthRequired Documents
To Open Account
- Student should be under 12 years
- Birth certificate + List of household members Copy
- Parents / Patron NRC Copy
To get the UESS incentive and special rewards
- Must be comply with UESS terms and condition
- UESS Passbook + University Documents
Terms & Conditions
- On the total balance of the account at the end of the scheme, customer can earn 3% UESS provident fund provided by the bank.
- After successfully being accepted into a university, no need to deposit money.
- In case of failure to deposit for 3 months (within reason),the UESS account will be transformed into a normal savings account.
- MOB scholarships available for outstanding students who received 5 or 6 distinctions (K 40,000 for 5 distinctions and K 60,000 for 6 distinctions one time) – in addition to the money already saved in UESS account.
- Savings for 3 years under UESS allows borrowing of 80% of the balance as per requirements.
SU BOO SAVINGSS ACCOUNT
Su Boo Savings Account
The Su Boo Savings is a savings plan that allows for regular savings over a specified period, tailored to the chosen Su Boo type, to meet the financial needs of children under 18 years old.
Product Features
- Opening an account requires the child to be under 18 years of age and can be accompanied by a parent or guardian.
- The minimum initial deposit is 10,000 Kyats, with a minimum term of 3 years, and monthly savings amounts and terms can be proposed.
There are 4 Su Boo types to choose from –
The interest rates are as follows:
Su Boo (small)
Monthly Savings Amount – Ks. 10,000 Term – 3 yearsSuBoo (medium)
Monthly Savings Amount– Ks. 30,000 Term – 5 yearsSu Boo (large)
Monthly Savings Amount – Ks. 50,000 Term – 10 yearsSu Boo (customize)
Monthly savings amounts and terms can be proposed.- 6.25% p.a (Ks. 30,000 and Ks. 10,000,000).
- 6.50% p.a (Ks. 10,000,001 and Ks. 100,000,000).
- 7.00% p.a (Ks. 100,000,001 and above).
- Bonus interest is 3.00% and becomes available only after the specified period is completed.
- Interest will be credited to the savings account on a monthly basis, at the end of each month, and it will be calculated based on the minimum balance during the 5th and the end of the month.
- The parent or guardian is responsible for paying the proposed monthly savings amount until the end of the specified period.
- In the month of opening the Anar Gat Savings account, interest will be credited as per the rules for opening regular savings accounts.
- The savings amount can be deposited monthly or in advance, depending on the selected Su Boo type.
Required Documents
- Original or Copy of parent or guardian’s NRC (National Registration Card).
- Copy of minor child’s birth certificate or NRC of a 10 year old.
- Copy of Household residence registration /license photos of parent or guardian and minor child.
Terms & Conditions
Deposit/Withdrawal
- Deposit can be made in cash or via bank transfer.
- The account closing can be done by returning the savings book to the branch the account was opened. Savings, interest and bonus interest will be issued together upon completion of the terms when closing the account.
- Childern must be accompanied by a parent or guardian, who must sign and complete the account closure process.
ANAR GAT SAVINGSS ACCOUNT
Anar Gat Savings Account
The Anar Gat Savings is a savings plan for adults aged 18 and above to save money individually or jointly over a specified period, either regularly or in advance, with the aim of achieving their future goals.
Product Features
- Opening an account requires individuals to be at least 18 years old and can be done individually or jointly with adults.
- The minimum initial deposit is Ks. 30,000 and additional deposits are allowed.
- 6.25% p.a (Ks. 30,000 and Ks. 10,000,000).
- 6.50% p.a (Ks. 10,000,001 and Ks. 100,000,000).
- 7.00% p.a (Ks. 100,000,001 and above).
- Bonus interest is 3.00% and becomes available only after the specified period is completed.
- Interest will be credited to the savings account on a monthly basis, at the end of each month, and it will be calculated based on the minimum balance during the 5th and the end of the month.
Required Documents
- Original or Copy of the NRC (National Registration Card) for the person aged 18.
- If opening joint accounts, include the NRC of the joint person.
- Copy of the household residence registration (If opening joint accounts, include copies for both persons.)
- License photo (If opening joint accounts, include license photos for both persons.)
Terms & Conditions
Deposit/Withdrawal
- Deposit can be made in cash or via bank transfer.
- The account closing can be done by returning the savings book to the branch the account was opened. Savings, interest and bonus interest will be issued together upon completion of the terms when closing the account.
- The joint person must be present, and both must sign and complete the account closure process.
AYEIN SAR SAVINGSS ACCOUNT
Ayein Sar Savings Account
The Anyein Sar Savings is a savings plan that provides monthly interest on savings, allowing seniors who have reached the age of 60 to live their daily lives peacefully.
Product Features
- Opening an account requires individuals to be at least 60 years old and can be done individually or jointly with adults.
- The minimum initial deposit is Ks. 3,000,000 and additional deposits are allowed.
- 7.00% p.a (Between Ks. 3,000,000 and Ks. 10,000,000).
- 8.00% p.a (Ks. 10,000,001 and above).
- Interest will be credited to the savings account on a monthly basis, at the end of each month, and it will be calculated based on the minimum balance between the 5th and the end of the month.
Required Documents
- Original or Copy of the NRC (National Registration Card) for the person aged 60 or older.
- If opening joint accounts, include the NRC of the joint person.
- Copy of the household residence registration (If opening joint accounts, include copies for both persons.)
- License photo (If opening joint accounts, include license photos for both persons.)
Terms & Conditions
Deposit/Withdrawal
- Deposit can be made in cash or via bank transfer.
- Deposit, withdrawal and balance check can be done by bringing the savings book at any branch of MOB by the account holder himself or herself or by a representative appointed by the account holder in accordance with the Bank’s rules.
- The account closing can be done by returning the savings book to the branch the account was opened. Interest and remaining balance will be provided to the account holder once the account closing is finished.