Product Name

 Fixed Deposit Accounts

Description

  • ​The fixed-term account is one of risk-free investments with a high interest rate over a specified period that you can opt and plan your financial investments. This suits everyone who want to earn more incomes from a safe investment    

Benefits

  • This account provides a stable income from a fixed-interest rate over a specified period that you can choose.
  • Can be used as collateral for a loan.
  • The fixed interest and your account balance can be checked via Internet Banking and SMS Banking  
  • Being collateral to apply for BCEL Credit Visa Card
  • This will authormatically be renewed after the due date.
  • Being used as a gurarantee of your financial position

Terms of Service

  • Opening a bank account: 1,000,000 LAK, 200 USD, 5,000 THB.
  • Select terms/specified periods that you want to deposit
  • Choose when the interest should be paid, e.g., getting paid at the due date, monthly, quarterly, half-year, yearly (for 24/36-month deposits), and also receiving 1-year interest in advance from 36/48/60-month deposit accounts.
  • Interest rate will be paid, based on the regulation set forth by BCEL at the date that your account is opened while this may be applied others (if any) after the due date.
  • Be able to receive the fixed interest by automatically transferring to your saving account, based on the initial agreement.
  • If you want to withdraw or close the account before the due date, you can; however, you must follow the BCEL requirements as below: 
  1. If closing before 3 months calculated from the opening date, interest will not be paid
  2. If closing after 3 months, but before the due date (for all types of fixed-term deposits), the fixed interest will be paid as same as savings account interest, depending on currency deposits and the current regulation set forth by BCEL announced at the closing date
  3. If the fixed-term accounts (12, 24, 36, 48 or 60-month deposits) were closed, but the interest was already paid monthly, quarterly, half-year or yearly: that interest will be paid back with a charge, 0.2% of that interest, minimum: 100,000 LAK/ 12 USD/ 500 THB. The interest will be paid, based on the actual currency deposit
  4. If the fixed-term accounts (36, 48 or 60-month deposits) were closed, but the interest was paid in advance: that interest will be paid back with a charge, 1.5% of that interest, based on the actual currency deposit
Fees
  • Opening a bank account: 10,000 LAK/ 2 USD/ 50 THB/Account/time.
Regulation
  • The account holder must keep his/her passbook safe, if loss/damage/dirt the holder must inform the bank immediately
  • If issuing a new passbook (loss/damage/dirt), a charge will be applied, according to the current regulations set forth by the bank.
  • The passbook is allowed to use only for the account holder, cannot be traded/exchanged
  • Everytime withdrawing or changing information, depositors must bring his/her passbook to the bank
  • If any information (e.g., A/C name or number) went wrong, the account holder must inform the bank immediately in order to solve it
  • If any depositors have changed their name/surname/address, they must inform the bank immediately
  • If the account holder cannot withdraw or close his/her account by himself/herself, the holder must write a power of attorney letter to allow someone who will act on the holder’ behalf. The power of attorney letter should include date, representative name, amount, A/c name & number with a signature of the account holder recognized by the bank. Also, the holder must give his/her passbook and ID/passport to that representative.