Fixed deposits account allows you to receive higher interest rates than any other types of accounts.
- The more the merrier- Enjoy higher interest rate compared to normal savings account ranging from 7.40% p.a. to 8.50% p.a. quick and easy with assured returns on your investment. You as the account holder can open more than one fixed deposit account and have a right to choose the duration you want to lock the money in your account.
- Options that best suits your needs − Choose investment term ranging from 1 month to 12 months. Roll over options to reinvest the principal amount at the end of the term.
|
Deposit Term |
Interest |
|
1 month term |
7.40 % p.a. up to 8.40% p.a. |
|
3 months term |
7.40 % p.a. up to 7.90% p.a. |
|
6 months term |
7.65 % p.a. up to 8.15% p.a. |
|
9 months term |
7.60 % p.a. up to 8.10% p.a. |
|
12 months term |
7.85 % p.a. up to 8.35% p.a. |
|
24 months term |
8.00 % p.a. up to 8.50% p.a. |
- No opening account fees
- No monthly account maintenance fees
| Minimum initial deposit | : | 1,000 MMK |
| Eligibility | : |
Business must be registered and based in Myanmar |
- Memorandum of Association and Article of Association
- Company registration certificate
- Business licenses
- List and names of board of directors
- Board of directors meeting records and resolutions to open the account
- Names of individuals who will make transactions for and on behalf of the company and their specimen signatures
- Company stamps
Visit your nearest CB Bank branch with the above required documents or contact your relationship manager
Fixed deposit is a term deposit which provides a higher rate of interest than a regular savings account, at the given maturity date. The bank will issue the fixed deposit certificate with maturity date.
Yes, fixed deposit account can be opened as Individuals, Businesses, and Associations.
Only Account Holder is allowed to make a withdrawal at the maturity date of deposit.
At the maturity date, the deposit amount will be transferred to the account holder’s bank account at his/her instruction. The account holder can then make withdrawal as usual from the Account Holder’s bank account.
At maturity date, the deposit will be transferred to the Account Holder’s bank account at his instruction. However, the Account Holder can make new placement by transferring the amount from the account to place as fixed deposit. The Account Holder can also give standing instruction to auto-extend the deposit for another fixed period.
The account holder will have to notify the bank of an extension by visiting to the bank’s head office or branches. CB Bank will issue a new certificate of extension to the account holder.
If the account holder has lost the deposit certificate, the account holder must visit the bank’s head office or the branch where the account was initially opened to request a replacement of the certificate. The bank will charge 1,000 MMK for issuing a new certificate.
Interest is calculated based on the deposit amount at the tenure selected and the interest will be credited into Account Holder’s account at maturity. Should the Fixed Deposit be withdrawn by the account holder prematurely (before the maturity date), the bank shall reserve the right to the payment of such interest as per the bank’s prevailing policy.
At maturity of the deposit, the deposit amount and interest will be transferred into the account of the Account Holder.
No, the certificate is not transferable.