UNIVERSITY EDUCATION SAVINGS SCHEME (UESS) DEPOSIT ACCOUNT
Savings account for children’s higher education.
College scholarship awarded by MOB to support traditional university scholarships and cultivate the future of Myanmar’s youth.
Product Features
- 6.25% p.a interest rate. (Between 10,000 and 10,000,000)
- Minimum savings of 5,000 kyats up to maximum savings of 100,000 kyats.
Five types of UESS Accounts:
UESS 1
K 5,000
deposit per month
UESS 2
K 6,000
deposit per month
UESS 3
K 7,000
deposit per month
UESS 4
K 8,000 and 9,000
deposit per month
UESS 5
K 10,000 & above
deposit per month
Required Documents
To Open Account
- Student should be under 12 years
- Birth certificate + List of household members Copy
- Parents / Patron NRC Copy
To get the UESS incentive and special rewards
- Must be comply with UESS terms and condition
- UESS Passbook + University Documents
Terms & Conditions
- On the total balance of the account at the end of the scheme, customer can earn 3% UESS provident fund provided by the bank.
- After successfully being accepted into a university, no need to deposit money.
- In case of failure to deposit for 3 months (within reason),the UESS account will be transformed into a normal savings account.
- MOB scholarships available for outstanding students who received 5 or 6 distinctions (K 40,000 for 5 distinctions and K 60,000 for 6 distinctions one time) – in addition to the money already saved in UESS account.
- Savings for 3 years under UESS allows borrowing of 80% of the balance as per requirements.