The Premier Account of Phongsavanh Bank is the current account having the interest rate that will protect our money to be safewith the interest to keep your money safe. Premier customers might be busy with their daily work in which we provide a premier office for reception and process the transaction. Drink is provided in the office.
2. Benefits of the account
You can take a rest while we are processing a transaction for your money to work for you
You do not need to line up in a queue because we have a premier office to process the transaction for you
You can invest in any business that provides a high return by not depositing your money in a long term
You will receive special interest rate of your fixed deposit
You can withdraw your money any time via our ATMs
You can make a payment by using a cheque without paying any fees
3. Type of currency for deposit
Lao Kip
Thai Baht
US Dollar
4. Interest rates and interest receivable
Currency
Interest
LAK
2.00%
THB
1.75%
USD
1.75%
(Updated 16/09/2019)
Note: Interest will be added to your account every month
5. Fees of the account
No
Descriptions
Services fees
LAK
USD
THB
1
Remaining balance lower than LAK 100.000.000, USD 10.000 or THB 400.000
No interest payment and fee
2
Account closing fee
30,000
4
120
3
Issuing a chequebook or passbook when opening a new account is free of charge
Nil
4
Issuance of new chequebook
40,000/book
5/book
200/book
5
Issuing new passbook in case of loss, damage, or changes in passbook information.
50,000/book
6/book
200/book
6. Initial deposit amount
LAK100,000,000, THB400,000 or USD10,000
7. Conditions of 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 LAK100,000,000, THB400,000 or USD10,000 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.