Bank Guarantee
Bank
guarantee certificates will be issued to facilitate the completion of contracts signed for doing business activities. Issuance of
Bank
Guarantee (or) Performance Guarantee
Bank
Guarantee or Performance Guarantee means the bank intervention by issuing
Bank
Guarantee in the following cases:
- when mutual trust is required for monetary-related matters in entering into a business agreement;
- when guarantee is required for timely completion of short-term and long-term projects implemented between the government and private organizations; and
- when guarantee is required for tender/action purposes.
The requirements for the customers who wish to apply for
Bank
Guarantee.
- Current A/C with the bank under the name of the applicant.
- Original document and the copy related to the tender/auction for the project for which the guarantee is sought.
- Property ownership documents and deposit A/C of the applicant as guarantee in addition to the collaterals for the amount of money that is required to be guaranteed by the bank.
- Business-related documents of the applicant, the company license, article of association and memorandum of association, (Form-6; Form-26; Form-E).
- Meeting minutes of the board of directors.
- Copies of citizenship scrutiny certificate and household list.
- Original letter of recommendation from the Ward Administrator’s Office.
As the
Bank
Guarantee is invalid upon expiry of the term, the original
Bank
Guarantee issued by the initial bank shall be given back to the bank.
Gift Cheque
Instead of giving money as present, the gift cheques are modern and proud to use, and thus can be given as gift of honour as a token of friendship at social, education and business functions. You can buy any of the following gift cheques to your taste.
- Birthday Gift Cheque
- Wedding Gift Cheque
- Honourable Gift Cheque
Gift cheques can be purchased from K 3,000 one to K 5,000,000 one, at a service charge of K 200 per cheque. Anybody who bears an A Bank gift cheque can withdraw money easily because the A Bank gift cheques are bearer cheques. A Bank gift cheques are stylish, modern gifts of honour to be given as birthday gifts and wedding gifts.
Internal Remittance
As A Bank is co-operating under a mutual benefit basis with Ayeyawady Bank, Myanmar Apex Bank, Global Treasure Bank in doing the business of internal remittance, we can offer a more convenient and faster remittance to towns where there are their branch banks.
Savings Deposit Account
- Accounts can be opened with a minimum amount of K1,000.
- Accounts be opened as individual, joint for 2 or more people, for minors, or for social, religious or economic organizations.
- An annual interest rate of 7.00% p.a is offered.
- Interests will be credited to your account every quarter at the end of June, September, December and March.
- Insurance savings account can be opened for the employees from respective departments, organizations and companies who are assigned with money-related tasks. In this function, an insurance savings account can be opened with the letter of requisition by the head of respective department, organization and company. The deposits and withdrawals will be conducted as directed by the head of respective organization in his or her letter
- **An annual interest rate of 7.25% p.a will be offered for Royal Savings Deposit Account (100 million and above) .
Fixed Deposit Account
- Account can be opened with a minimum amount of K100,000, and there is no limit in the amount
- 7.00% p.a interest for 30 days deposit.
- 7.10% p.a interest for 60 days deposit.
- 7.35% p.a interest for 90 days deposit.
- 7.60% p.a interest for 180 days deposit.
- 7.80% p.a interest for 270 days deposit.
- 8.00% p.a interest for 365 days deposit (below 100 million).
- 8.25% p.a interest for 365 days deposit (100 million – below 500 million) and
- 8.50% p.a interest for 365 days deposit (above 500 million) will be offered.
Opening of Accounts
Accounts can be opened either individually or jointly by two or more people, or in a group under company or organization’s name.
Withdrawal
Upon completion of depositing period, the principal can be withdrawn together with interest.
Loans
Loans can be received with fixed deposit account book given as guarantee.
Joint Account Holders
In the event of the death of one of the joint account holders, the bank will close the joint account and the money will be withdrawn to the joint holder(s) unless the bank has not been directed otherwise.