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“As a Thindagyut Special Prepromotion, Increasing Interest Rate for Cash Accounts-Call and Ordinary Call Deposit Accounts During the Campaign Period” Campaign Terms & Conditions

October 13, 2022October 13, 2022
  1. This Campaign period is from October 11, 2022, to December 31, 2022 (excluding weekend days, bank holidays, and public holidays).
  2. The purpose of this Campaign is to entitle the special interest rate for new Customers who open and deposit into their new Cash Accounts-Call or Ordinary Call Deposit Accounts, and existing Customers who deposit money into their existing or new Cash Accounts-Call or Ordinary Call Deposit Accounts during the Campaign period.
  3. The new Customers and Existing Customers will be entitled special rate on the deposited amount if they deposited into their Cash Accounts-Call or Ordinary Call Deposit Accounts during the Campaign period.
  4. The special interest rates that will be calculated on the amount deposited during this Campaign into Cash Account-Call or Ordinary Call Deposit Accounts are as follows; –
    1. 6% interest rate for the amount deposited under MMK Five Hundred Million (MMK 500,000,000)
    2. 7% interest rate for the amount deposited from MMK Five Hundred Million (MMK 500,000,000) to MMK One Billion (MMK 1,000,000,000)
    3. 7.5% interest rate for the amount deposited above MMK One Billion (MMK 1,000,000,000)
  5. Minimum ‘initial cash deposit’ amount of MMK 10,000 (MMK Ten Thousand only) to open the Cash Accounts-Call (Individual/Joint) or Ordinary Call Deposit Account (Individual/Joint) and the interest rate will be calculated starting from the MMK 10,000 (MMK Ten Thousand).
  6. Minimum ‘initial cash deposit’ amount of MMK 100,000 (MMK One Lakh only) to open the Cash Accounts-Call (Corporate) and 10,000 MMK (MMK Ten Thousand only) to open Ordinary Call Deposit Account (Corporate) and the interest rate will be calculated starting from the MMK 100,000 (MMK One Lakh) and MMK 10,000 respectively.
  7. The special interest rates will be provided only for the Cash Accounts-Call and Ordinary Call Deposit Accounts and other types of Deposit Accounts will be available at the normal interest rates. KBZ Bank shall have the right to amend at any time, the interest rates and Terms of the Fixed Deposit Accounts in accordance with the instructions of the Central Bank of Myanmar.
  8. The Customer will be entitled to the special interest rates on the amount deposited into Cash Accounts-Call and Ordinary Call Deposit Accounts under this Campaign, however, the Customer must comply with the KBZ Bank Cash Account-Call Terms and Conditions and Ordinary Call Deposit Account Terms and Conditions for opening new Call Account within the Campaign period.
  9. During this Campaign period, Customers will be entitled to the special interest rates on the amount deposited into Cash Accounts-Call and Ordinary Call Deposit Accounts stated in Clause 4 of these terms and conditions and the Customer will be entitled to the normal interest rates on the amount deposited into Cash Accounts-Call and Ordinary Call Deposit Accounts after the Campaign period.
  10. KBZ Bank employees will not contact participants in the Campaign to ask for the OTP or PIN of Customers participating in this Campaign.
  11. KBZ Bank Customers are strictly forbidden to cheat in any form or manner during the Campaign. KBZ Bank has the right to take necessary action against any Customer who is suspected to be cheating in any form and/or manner.
  12. In the event of any dispute arising between KBZ Bank Customers and KBZ Bank regarding this Campaign, such dispute will be examined carefully and finally resolved by the authorized officers of KBZ Bank without any prejudice to the statutory rights of the Customer. 
  13. KBZ Bank, at any time, shall have the right to amend or cancel or terminate the terms and conditions and or Campaign and the interest rates or features regarding this Campaign conditionally for some reasons without giving any notice.
  14. Customer acknowledges and agrees that there is no right to receive any compensation as a result of cancellation or termination of this Campaign for some reasons and/or variation to these terms and conditions without giving any notice.
  15. All normal KBZ Bank Cash Account-Call Terms and Conditions and Ordinary Call Deposit Account Terms and Conditions apply. 
  16. These terms and conditions shall be governed by and construed by the laws of the Republic of the Union of Myanmar. 
  17. KBZ Bank reserves the right to revise initiatives introduced in response to COVID-19 and natural disasters or force majeure events at any time, as the situation evolves. KBZ Bank will not be liable to the Customer or any other party or be considered in breach of these terms and conditions for a failure to perform, or delay in performing, any such obligation set out in these Terms and Conditions while those circumstances continue. 
  18. These terms and conditions are made in both English and Myanmar and both versions shall be equally authentic and effective. In case of any discrepancy between the two versions, the Myanmar version shall prevail.