FuturePlus Deposit Account

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What is FuturePlus?

Future Plus is the type of deposit product which give more interest rate than normal saving book. The purpose of the Future Plus plan is to help strengthen the customers’ futures. Future Plus is a special saving program which help fulfill the customer’s dreams such as saving for children education,saving to buy valuable gifts, saving for the travel, saving to busing car (or) house, saving to host wedding or any other dreams.


Two Types of Future Plus

There are two options – 1) open with regular type and (2) tochoose unlimited deposits within a fixed time period

Interest

The interest rate for future plus is 9.25 percent for oneyear, 9.50 percent over two years, and 10 percent over three years

Benefits

The benefit include calculation of principle + interest on monthly interest calculation, the bank also arrange for the account holder not to lose any interest even the account holder stop the saving. As FuturePlus Account is regular deposit saving type, when the account holder failed to save the deposit for any reason, the bank will wait for another 5 working days as grace period.If the account holder unable to save within the grace period, the bank will close the account, calculate the existing amount with the Interest rate of(8.25%) accordingly with the deposit regulation and transfer the total of principle and interests amount to the related account

For Example

Target Deposit Amount            Monthly Saving amount(1st year)Monthly Saving amount (2nd Year)Monthly Saving amount (3rd Year)
5,000.000 MMK 400,000 MMK 190,000 MMK 120, 000 MMK
Monthly Installment
Saving Amount
Deposited amount (1st year) Deposited amount (2nd Year) Deposited amount (3rd Year)
30,000 MMK 378,557 MMK 795,769 MMK 1,263,900 MMK

Interest

(for 1year)

9.25%

Interest

(for 2years)

9.5%

Interest

(for 3years)

10%

Calculation of Future Amount from Monthly Saving Amount

ks

Interest

(for 1year)

9.25%

Interest

(for 2years)

9.5%

Interest

(for 3years)

10%

Calculation of Monthly Saving Amount From Target Amount

ks

Why choose this FuturePlus Deposit Account?

High Interest rate

Calculate interest on the daily balance.

Flexible

You can still access your money outside of the fixed dates of withdrawals

Co-accounting

Open an account by yourself or with someone else

To open FuturePlus Account

  • Anyone with regular income can open a FuturePlus Account at any Kanbawza Bank branches in person together with the NIRC, Address, Phone Number(or) Email address.

Want to open this account?

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(+95) 1-538075

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