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SAVINGS

Its purpose is for Hana Microfinance clients to have savings habit, to have investment amount ready, when necessary, to have money ready for emergency cases and to transform the client as investor from borrower as his/ her savings increased. 

Compulsory Savings

5% of the loan amount shall be saved on the loan disbursement date for most of the loans. According to the latest government directive, the annual savings interest rate is 14% since October 01, 2019.

 

Clients can inform in advance to the branch office in any business day to withdraw compulsory saving. The minimum balance of MMK 1,000 must be kept in the account. If the clients wish to continue saving, they can save as voluntary saving.

Voluntary Savings

Hana clients (either existing client (or) clients who have borrowed at least one time at Hana Microfinance) could open voluntary saving account and save any amount of their extra cash if they want to.

 

Hana Microfinance offers the respective specified interest rate according to the saving types. The minimum interest rate is 14% annually.

 

Saving Deposits – Can be done at village/by digital payment/at branch office.

 

Saving Withdrawals – If the client wishes to withdraw at the village, need to request at least 28 days in advance.

 

If the client wishes to withdraw at the branch office, need to request at least 2 days in advance. No digital option is available at the moment for saving withdrawals. Voluntary saving account can be created by depositing the minimum set amount. Voluntary savings could be made at any business day after opening voluntary saving account.

 

Clients can inform in advance to the branch office in any business day to withdraw voluntary savings. The minimum balance of 1,000 MMK must be kept in the account.

Client Stories

Daw Khin Myint Htay
Popcorn Business Owner

Daw Thet Mar Soe
Small Garment Factory Owner

Daw Kyin Hla
Convenience Store Owner

Hana Microfinance Limited