What Is A Fixed Deposit Account? A Fixed Deposit account (FD) is a financial instrument offered by banks, which allows you to save your money for a fixed period of time to generate higher interest compared to a conventional savings account. In many western countries, FD is also known as term deposit or time deposit. The interest rate for FDs is fixed at the time of opening the deposit and independent of any fluctuations in the market. Some financial institutions even allow one to break their FDs prematurely on paying a certain penalty fee. An FD calculator can be used to determine the interest and the amount that it will accrue at the time of maturity.
A long-term, tax-free savings account, which offers a fixed interest rate which is higher, depending on how much you save. Note: As per the Terms & Conditions of Fixed Deposit Accounts of the bank, the penalty on premature closure of Fixed Deposits including sweep-in and partial closures has been fixed by the Bank at the rate of 1% provided your RFC FD interest is equivalent to 1% or more. This will be applicable for deposits booked on or after 24th January 2011.
Investment Amount
Minimum – 10,000MMK
Maximum – No Maximum Limit
Fixed Deposit Interest Rate In Malaysia
AYA Time Deposit is ideal for the individual who has excess cash for an extended period of time. The account is opened for a particular fixed period (time) by depositing particular amount (money) and withdrawal is only allowed at the end of the particular period.
BENEFITS
- Extremely safe
- Higher Interest Rate
- Guaranteed returns
- Fixed Deposit may be pledged to the bank for loans
- Choose the scheme you want
ELIGIBLITY
Anyone who is Myanmar citizen and over 18 years can open AYA Time Deposit account.
Fixed Deposit Interest Rates
- Individual or Joint
- Public Company Limited
- Sole Proprietorship/ Private Company Limited
- Joint venture
- Corporation
- Non Profit Corporation
Keep Your Documents Ready…
Individual
- NRC Number
Corporate
- NRC Number of the authorized person
- BOD Resolution (Meeting minutes)
- Form -6, Form -26, Form E
- Certificate of Incorporation
- Business License
- Memorandum and Articles Of Association
- Export/Import License
INTEREST RATES AND PERIODS
You may choose the convenient period of Time Deposit to gain interest.
- 1 Month Time Deposit – 7.00% P.A
- 3 Months Time Deposit – 7.25% P.A
- 6 Months Time Deposit – 7.50% P.A
- 9 Months Time Deposit – 7.75% P.A
- 12 Months Time Deposit – 8.00% P.A
- 24 Months Time Deposit – 8.50% P.A