This suits everyone who earn big income but not yet have plan to spend in the current day. The fixed-term account is one of risk-free investments with a high interest rate over a specified period that you can opt and plan your financial investments. This suits everyone who want to earn more incomes from a safe investment.
The term are: 3 months, 6 month, 12 months, 24 months, 36 months, 48 months and 60 months.
Currency in LAK, USD, THB.
This account provides a stable income from a high and fixed-interest rate over a specified period that you can choose.
Can be used as collateral for a loan from bank and financial institute.
The bank will automatically renewed the fixed term deposit after the due date. Interest rate will be based on the current interest regulation of APB.
Terms of Service:
1. Opening a fixed deposit account is minimum: 500,000 LAK, 100 USD, and 2,000 THB.
2. For fixed-term accounts 3, 6, 12 months deposits, bank will pay interest one time only at the due date. For 24, 36, 48, 60 months deposits, interest will be paid at the due date, monthly, quarterly.
3. Be able to receive the fixed interest by automatically transferring to your saving account or current account based on the initial agreement.
4. If you want to close the account before the due date, deposit less than 30 days, from account opening date, interest will not be paid. If more than 30 days, the fixed interest will be paid as same as savings account interest rate and calculate on daily basis. The bank will also collect back the interest was paid in advance with other charges as state in the bank regulation.
5. The account holder must keep his/her passbook safe, if loss the holder must inform the bank immediately.
6. Account holder must give sample signature and payment condition with the Bank on the account opening date so that the Bank will use this as reference for all banking transaction.
7. The passbook is allowed to use only for the account holder, cannot be transferred or exchanged.
8. Every time depositing/withdrawing at the counter, the account holder must show their passbook and ID card.
9. The passbook have numbered in each page, it’s not allow to tear, or dirt and to modified any text or number or change the name in any case.
10. Every time depositing/withdrawing, the account holder must check his/her account balance and count money carefully, if anything wrong the holder must inform the bank immediately to solve it.
11. If the account holder cannot withdraw at the counter by himself/herself, the holder must write a power of attorney letter to allow someone who will act on the holder’ behalf. The power of attorney letter should include date, representative name, amount, A/c name & number with a signature of the account holder recognized by the bank. Also, the holder must give his/her passbook and ID/passport to that representative. The representative also need to bring her ID card as well.