This is an option for individual and enterprise customers, who need to save for long term purposes, for business capital, and for children’s education.
A Fixed Deposit account is a deposit product of the bank which allows an individual or an organization an opportunity to earn higher interest on long-term savings which are not meant for immediate usage, but intended for use at a future time, such as for education, travel, asset acquisition, and other similar objectives.
- It earns a higher interest compared to a Savings Deposit account.
- Upon maturity of the deposit, withdrawals can be made in any of APB’s branches and service units located in various parts of the country.
- The account may be used as collateral for a loan, for certification of a deposit amount, and to guarantee some other forms of financial obligation
Type of Deposit Currencies:
Lao Kip, US Dollar and Thai Baht
Minimum Amount of Deposit
Lao kip= 500.000 kip, or US dollar= 100 USD, or Thai baht= 2.000 THB
A high interest is given to the account by bank circulation, depending on the term and amount of the deposit
- For deposits with a fixed term of 3 months, interest is paid upon maturity of the deposit.
For deposits with fixed term of 6, 12, 24, and 36 months, interest is deposited monthly to the customer’s saving account. No interest is paid if the account is closed within 30 days. If the account is closed after 30 days, it will be treated like a Savings Deposit account and the interest is computed and paid accordingly. Bank service charges may apply.
Types of fixed deposits:
Deposits with fixed terms of 3 months, 6 months, 12 months, 24 months, and 36 months
- Properly accomplished account opening form as provided by APB.
- Initial deposit of kip 100,000, or USD 50, or Thai Baht 2,000.
- For Lao citizens residing in Laos: Valid ID card, resident registered book, employment ID, military ID, Police ID.
- Lao Citizens not residing in Laos: Passport, Letter of guarantee from a local resident.
- For foreigners: permanent Foreign ID Card, Passport, Working Permit, (issued by MOL), Embassy ID card or international ID Card (Issued by MOFA)
- For companies registered in Laos: Business License, Tax License, and Investment License.
- For companies outside of Laos: Investment License, Business License, Tax License, and Letter of guarantee from person living in Laos.
APB also provides the following services:
- Purchase of Traveller’s Cheques and cheques received from abroad.
- Money transfer through Western Union
- Money transfer within APB branches (from deposit and non-deposit account), and to other local banks.
- Issuance of a Bank Statement of account.