Retirement Account

Taking care and managing cash for personal or family expenses for retirement is a must for each individual or family. PRASAC offers Retirement Account for companies, enterprises, national and international organizations to provide convenience and motivation to their employees.

Product Features

Descriptions Product Feature
Annual Interest Rate 8.50% (KHR) / 7.00% (USD)
Minimum Initial Deposit Not required
Terms From 1 to 5 years
Passbook
  • Waive for first-time issuance and fully used passbook
  • USD 3 (or equivalent to other currencies) fee for lost / damage passbook when requests for a new one
Interest Computation Interest is accrued daily and paid at the end of the year.
Deposit/Withdrawal According to the agreement
Withholding Tax
  • Resident 6%
  • Non-resident 14%
Penalty for premature closure / account redemption or withdrawal
  • USD 50 or KHR 200,000 for any closure less than one year
  • USD 30 or KHR 120,000 for any closure more than one year or before agreement end
Interest rate for premature closure / account redemption or withdrawal before agreement end or before retirement age Interest rate is offered according to the standard interest rate of Retirement Account and automatically calculation based on actual term (number of days) of depositing.

Account opening requirements

  • Any persons (Khmer or Expatriate) whose age from 18 years old
  • A customer has to provide an original copy of valid identification document
  • Related documents of institution, company, school, or government entity
  • Customer has to have legal income generating activities, no crime convictions or others crimes.

Note: Other conditions are applied. All rates​ & account conditions are subject to change without prior notice.