Q. What are requirements to a new saving passbook?
A. ID and household registration orrginals and copies each.
Q. How many persons can open a Joint Account?
A. Two to four persons.
Q. Can a company open a saving account?
A. Yes. Requirements are an application form, a copy of incorporation certificate, Memorandum of Association, meeting minute of Board of Directors, the amount of money to start with a copy of Form E, Form XXVI and ID original and copy.
Q. How much is the account to start with?
A. Starts from Kyats 1,000.
Q. Are there limitations in the amount of deposit and withdrawal?
A. There is no limitation in the amount of deposit and withdrawal. But, withdrawal is limited once in a week. The frequency of deposit is not limited.
Q. What are the requirements for self-withdrawal?
A. Original ID of the passbook holder.
Q. Is authorization possible in deposit and withdrawal? What are the requirements?
A. Yes. The passbook holder is to sign on the front page and back page of the withdrawal form. The signature must be similar to the specimen at the bank.
Q. Is withdrawal possible at any branches?
A. Yes. Remittance is applied. Passbook holder only can withdrawal.
Q. What is the minimum amount of balance to leave in the passbook?
A. Withdrawal is possible leaving minimum amount of Kyats 1,000.
Q. Is joint account openable with an under-age? If so, what are the requirements?
A. Yes. The ID of the guardian and household registration, the original and copy of each accordingly. The under-age birth certificate is mandatory to verify the date of birth.
Q. What is the interest rate?
A. 9% per annual.
Q. When is the interest added? What is the date of entry?
A. Interest is added every three months. The entry of the interest in the passbook is from 1 to 4 of the month due.
Q. Can interest be left not added? When does is become dead account?
A. No problem. No dead account.
Q. Can money be put into passbook from district?
Q. Can money be put into passbook using other bank's cheque?
A. Yes. We are practising the clearing process in Yangon, Naypyidaw and Mandalay.
Q. How many fixed deposit services do you offer?
A. We offer five types of fixed deposits: 3,6,9 months, one year and two years.
Q. What is the requirements to open the fixed deposit account?
A. Two copies of photographs, household registration in original and copy.
Q. How much is the initial amount to open the fixed deposit account?
A. Kyats 10,000.