INDIVIDUAL ACCOUNT

Current Deposit Account

Bearer or Order cheque book

  • Ks.125 per 25-page cheque book with stamp duty
  • Ks 1000 initial deposit
  • Ks 1000 minimum balance.
Documents Required:
  • NRC Copy
  • 2 Referees
  • Form 1 for Foreigners

Saving Deposit Account

“Earn interest by depositing money every month”
  • 8.25% p.a interest rate
  • Savings passbook (lost charges of Ks.500).
  • Ks. 1000 initial deposit
  • Ks. 1000 minimum balance
Documents Required:
  • NRC Copy
  • 2 Referees
  • Form 1 for Foreigners

Fixed Deposit Account

“Highest rate of interest of all saving accounts until maturity date”.

Features
  • 8.5% p.a interest 1 month, (30) days
  • 9.25% p.a interest 3 months, (90) days
  • 9.50% p.a interest 6 months, (180) days
  • 9.75% p.a interest 9 months, (270) days
  • 10% p.a interest 12 months. (365) days

Send interest to current and savings accounts Ks. 10,000 initial deposit, no minimum balance.

Documents Required:
  • NRC Copy
  • 2 Referees
  • Form 1 for Foreigners

Call Deposit Account

“Advantages of both current and savings account”.

Features
  • 2% p.a interest rate
  • Ks. 10,000 initial deposit
  • Ks. 10,000 minimum balance

Daily interest calculated on balance and paid on quarterly

Documents Required:
  • NRC Copy
  • 2 Referees
  • Form 1 for Foreigners

Minor Account

“Earn interest by depositing money every month”.

Features
  • 8.25% p.a interest rate
  • Savings passbook (lost charges of Ks.500)
  • Ks. 1000 initial deposit.
  • Ks. 1000 minimum balance.
Documents Required:
  • Born Certificate or form 66/6 (Family Legal Documents as a household list) to verify the age of child
  • Parent’s/Guardian’s NRC copy

UESS Deposite 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”.

Five types of UESS Accounts:
  • UESS 1 – K 5,000 deposit per month
  • UESS 2 – K 6,000 deposit per month
  • UESS 3 – K 7,000 deposit per month
  • UESS 4 – K 8,000 and 9,000 deposit per month
  • UESS 5 – K 10,000 & above deposit per month
Features
  • 8.25% p.a interest rate, no withdrawals
  • 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.
  • Saving for 3 years under UESS allows borrowing of 80% of the balance as per requirements.
Requirements
a. To Open Account
  • Student should be under 12 years
  • Birth certificate + List of household members Copy
  • Parents / Patron NRC Copy
b. To get the UESS incentive and special rewards
  • Must be comply with UESS terms and condition
  • UESS Passbook + University Documents
  • Bank will issue PO for basic academic yearly cash

Internal Draft & Cheque Purchase (IDCP)

“MOB provides a service of buying cheque issued for government lottery for its customers”.

  • Individual who wants to sell needs to open a current deposit account.
  • Service charges is 0.05% for every 100 kyats.