Digital Savings Account

A Digital Savings Account offers clients an easy and simple way to Withdraw, Deposit, and Transfer money at any time and any place with no limitation. It is the best choice for clients who want to keep their money safe and for those who need to use money daily. Open a saving account with LOLC now, you will be able to manage your cash flow and achieve your financial goal by reducing risk and cutting down any unnecessary expenses, thus increasing the efficiency of your cash management.


Benefits:

  • Get high interest income
  • Your money will be kept safely and securely
  • Multiple currency choices: KHR and USD
  • Able to register LOLC Mobile Cambodia and perform any transaction for free of charge
  • Deposit and withdraw, and Transfer money during business hours at any LOLC office
  • Able to request for ATM card and perform any transactions under CSS members for free of charge

Product Features:

No

Features

Descriptions

1

Currency Type
KHR and USD

2

Initial Deposit/Minimum Balance

 For Basic KYC Digital Savings Account, both old and new customers are required to deposit at least KHR 20,000 or USD 5 after opening an account to activate the account. If the customer does not activate the Digital Savings Account after 30 days, the system will automatically close the account.

 For Full KYC Digital Savings Accounts, the terms and conditions apply the same as for a Savings Account.

3

Interest Payment

 Interest is accrued daily and capitalized at every month end

4

Account Type

 Individual Account

5

Transaction Limitation
Basic KYC
 Maximum transaction amount per transaction and per day: KHR 2,000,000 or USD 500
Full KYC
 Able to perform transaction with full amount allowed for each channel

6

Transaction Channel

 At LOLC counter during business hours
 Through LOLC Mobile (Cambodia)
 Though ATM Machine 24/7 under CSS Members

7

Withholding Tax
 4%

Interest Rate:

Currency

Interest

KHR/USD
3%

 GENERAL TERMS AND CONDITIONS

Document Required:

  • Valid National ID or
  • Valid Passport

Digital Savings Account Request:

  • Customer is required to download LOLC Mobile (Cambodia) from  App Store or  Play Store.
  • After downloaded, customer has to register in LOLC Mobile (Cambodia).
  • Finally, customer can open a digital savings account in LOLC Mobile (Cambodia).
  • Customer can also Apply loan here.

How to Apply for Loan


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