We understand how much your children mean to you. Therefore, we offer this account as a deposit agreement with a specific term and interest rate. You can despot anytime, depending on your cash flow situation.
Parent Child Account without Life Insurance
A savings account with specific tenor and interest rate. Customer can deposit at any of the Phillip Bank’s Cash Deposit Machine (CDMs) or branches during working hours.
Parent Child with Life Insurance
A savings account with specific tenor, interest rate, and an additional life insurance coverage. Customer can deposit at any of the Phillip Bank’s CDMs or branches during working hours.
Benefits you’ll get
- Available in KHR and USD.
- Interest is daily calculated based on the account balance
- Minimum initial deposit of USD 5 or KHR 20,000
Parent Child Account without Life Insurance
| USD | KHR |
|---|---|
| 6.25% | 6.25% |
Note: Annual Interest Rate
Parent Child with Life Insurance
| Balance | USD | KHR |
|---|---|---|
| 0 < 1,200 USD or 4,800,000 KHR | 6.25% | 6.25% |
| ≥ 1,200 USD or 4,800,000 KHR | 3.00% | 3.00% |
Note: Annual Interest Rate
| Activity | With Insurance / Fee | Without Insurance / Fee |
|---|---|---|
| Minimum Initial Deposit | KHR 20,000 / USD 5 | KHR 20,000 / USD 5 |
| Minimum Balance | KHR 4,800,000 / USD 1,200 | KHR 20,000 / USD 5 |
| Closing Account within 120 days | KHR 12,000 / USD 3 | KHR 12,000 / USD 3 |
Calculator
Result:
| Annual Interest Rate | Total Net Earned Interest | Total Deposit Amount | Total Amount at Maturity Date |
|---|---|---|---|
| 4.75% | 286.25 | 11,757.79 | 12,044.04 |
Payment schedule:
| No. | Earned Interest | Tax | Net Earned Interest | Monthly Deposit |
|---|---|---|---|---|
| 1 | 4.75% | 4.75% | 4.75% | 4.75% |
- Individuals (residents/non-residents) aged 18 and above
• ID Card or Passport or Family Record Book
• Child’s or relative’s birth certificate/family record book / residential book
