Phongsavanh Bank Account Type

Phongsavanh Bank offers a variety of account types to cater to different customer needs. The main account types include:

• Saving Account: This account allows customers to save money for the future and earn interest. It supports multiple currencies such as Lao Kip, Thai Baht, and US Dollar.

• Personal Account: Designed for individuals, this account offers options for managing personal finances with a low initial balance requirement and allows for easy withdrawals.

• Current Account: Suitable for individuals and businesses requiring regular transactions, this account offers features like unlimited withdrawals and check payments without additional fees.

• Cash Management Account: Targeted towards customers seeking higher returns, this account offers interest rates based on the deposit balance and allows for withdrawals with a one-day notice.

• Premier Account: A current account for premier customers, it provides additional benefits such as personalized transaction processing, special interest rates for fixed deposits, and the ability to withdraw funds at any time.

• Fixed Deposit Account: This account allows customers to invest for a fixed period, earning higher interest rates based on the chosen tenor, with options for automatic renewal and partial withdrawals.

Phongsavanh Bank Broker Account Opening Process

To open an account with Phongsavanh Bank, customers must follow these steps:

• Prepare Required Documents: Gather necessary documents based on the account type. For Lao citizens, acceptable IDs include a citizen ID card, family book, or passport. Foreigners need a passport along with additional verification documents.

• Meet Initial Deposit Requirements:

• For the Premier Account, the initial deposit is Lao Kip 100,000,000, THB 400,000, or USD 10,000.
• Other accounts may have different initial deposit requirements.

• Visit a Branch: Go to any Phongsavanh Bank branch or service center.

• Complete Application: Fill out the application form and submit the required documents. Bank staff will assist in processing the application.

• Account Activation: Once approved, the account will be activated, and customers can start using the services offered.

For further inquiries, customers can contact Phongsavanh Bank at their head office or through their customer service hotline.