One product of Phongsavanh Bank given to the customer has a tenor which provides high interest rate and the customer is able to plan in the future for the use. The earning from the interest rate is fixed to the period you choose.
If you have a continuous revenue from your investment and do not require to spend the money, this fixed term deposit is the answer.
2. Benefits of the account
Select the time period as per your requirement
Enjoy a certain earning from your investment
The fixed-term deposit account is renewed automatically
Be able to withdraw the money in full or part of the total balance
3. Type of currency for deposit
Lao Kip
Thai Baht
US Dollar
4. Interest rates and interest receivable
(Updated on 14/12/2021)
5. Fees of the account
No
Descriptions
Services fees
LAK
USD
THB
1
Issuing a CD replacement in case of loss or damage
20,000
2
80
2
Account closing on maturity
Nil
3
Account closing before maturity
100,000
12
400
6. Initial deposit amount
LAK1,000,000, THB4,000 or USD100
.
7. Conditions for the account opening
If you are a Lao citizen, you can use any of an ID, such as: a citizen ID card, a family book, a passport or ID card of a staff, soldier or police
If you are a Lao citizen but not residing in Laos or a foreigner, you are required to have a passport and a letter guaranteeing for you or a person signing the letter for you but the person shall reside in Laos
If you are a foreigner, you can provide any of a Permanent Residental Card, a passport, labor ID card (issued by Ministry of Labor), staff ID card of Embassy or International organizations (issued by Ministry of Foreign Affairs)
If you want to open an account for the business more documents are required:
- A copy of business registration
- A copy of business licence
- A copy of tax registration
- Memorandum and terms and conditions related to the bank
- Resolution of the Board of Directors of a company: A) Approval for account opening, B.) Name list of who will have the authority to sign in the account
8. How to open the account
You are required to prepare a list of documents mentioned above
Prepare at least LAK1,000,000, THB4,000 or USD100 in your pocket
Come to meet our staff at any of unit services, service center or branches of Phongsavanh Bank, which is closed to you
Our service staff will be processing all documents for you and you can sign off to finish the process
Note: More people can be joint for account opening of this Current Account. Each person is required to bring personal ID.