Minor Deposit
  • Minimum initial deposit of 1000/Kyats
  • 8.25% Interest per annum
  • Paying-in (depositing) cash by Cheque, by money-order, by bank transfer may be made through transfer, cleaning and collection systems
  • A minor’s deposit account may be opened as a current account, as a savings account and as a fixed deposit account as you like it.
  • Banking activities must be carried out in accordance with the rules and regulations prescribed for a minor’s account.
  • The D.O.B (date of birth) mentioned in the minor’s birth register and the D.O.M (date of maturity) will be mentioned in the bank book. On the day a minor reaches adulthood (the day he/she turns 18) the account will be changed to and opened as the adult account.
  • Paying-in and Withdrawing cash
  • The natural parents (the blood related parents) may act as the guardian in matters of paying-in the withdrawing cash from a minor’s part-time deposit account.
  • If a minor has not his/her own parents, an person who has been appointed as a guardian with letter of guardianship under the Guardian and Wards Act, may act as a guardian of a minor.
  • A minor, who has opened a minor’s ban account, has the right to pay-in or withdraw cash himself/herself on the day he/she turns exactly 18.
  • A minor’s account-holder, on reaching adulthood, must begin paying-in or withdrawing cash from the bank by himself/herself .
  • Starting from the day when a minor has reached adulthood, the right of his/her parents or guardian to pay-in or withdraw cash from the bank for and on his/her behalf must be considered as automatically ended.
  • When changing to and opening the adult account, the bank must close the minor’s account as one part, with the closing balance, that exists in the ledger and savings book on the day before the minor reaches adulthood. And then the bank must put it on record with a remark that the closing balance has been changed as the opening balance of the adult account and the balance is carried forward to it paid-in, may be mentional in the banks pay-in slip. The pay-in slip is issued by the bank free of charge.
  • Deposit
  • You can deposit unlimited numbers of amounts of cash into the savings deposit account.
  • You can also deposit the account with cheques, remittances and payment orders.
  • Cash Withdraw
  • You can withdraw unlimited numbers of amounts of cash. The minimum amount of balance in the account is 1000 Kyats. Cash can also be withdrawn by agents on behalf of the account-holde
  • The current interest rate is 8.25% per annum. Interest for the month will be calculated on the minimum balance existing from the morning of the 6th to the end of the month.
  • Interest Payment
  • The current interest rate is 8.25% per annum. Interest for the month will be calculated on the minimum balance existing from the morning of the 6th to the end of the month.
  • Confidentiality
  • The bank will keep the data / information of the account-holders confidentially.The current interest rate is 8.25% per annum. Interest for the month will be calculated on the minimum balance existing from the morning of the 6th to the end of the month.
  • Bank Charges
  • Bank Charges will not be collected from savings account-holders.
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