Individual Retirement Account
As a contribution to the development of Cambodia economy and reduce some possible crimes which resulted from handling cash eventually, ACLEDA Bank developed a deposit service, Individual Retirement Account, that ACLEDA Bank is responsible for maintaining, administering, and arranging the funds deposited into the account by the account holder or third party in order to cover personal or family expenses after his/her retirement.
Advantages
- High secure for maintaining, administering, and arranging funds for personal advantage after retirement;
- Interest rate is higher than Savings Account's;
- Well prepared for a better standard of living after retirement;
- The account is used with savings passbook;
- Amount of deposit is based upon the agreement between the customer and ACLEDA Bank;
- Eligible to withdraw cash on demand after reaching retirement age;
- Able to withdraw cash before retirement with service charge applied;
- Opportunity to use other bank's products and services.
Account Balance
Individual Retirement Account requires an initial deposit of USD50 or equivalent to other currencies. Every time you make distribution from the account, you must ensure a minimum balance of USD50 or equivalent to other currencies.
Interest Rate
The interest rate for Individual Retirement Account is 5% per annum. The interest is daily accrued and yearly capitalized.
ACLEDA Bank currently provides three kinds of Trust Services:
- Individual Retirement Account
- Health Savings Account
- Education Savings Account
