How would you invest?
Re: How would you invest?
You will lose some on the conversion to riels. And then you get 7.75% of 160k would be around 12.400 per year. When you deduct taxes and you deduct the fact you don't receive the interest at the end of the year but every month you for sure end up below 1k every month, paid out in riels.Zyzz wrote: ↑Wed Feb 28, 2024 7:42 pm Went in acleda today to ask some questions and either i calculated wrong or im missing something but based on these example numbers...
160k usd but converted to riels ... at 7.75% 180 months. On the cd calculator site i used it says around 1750 or 1800 before tax taken out. At acleda they were saying i should expect around 950 per month after tax taken out.
Can someone help me understand why im getting different numbers? The cd calculator site is very simple to use. Just asks for amount being deposited.. amount of time... percentage rate and i just divided that by the amount of months in the term.
Thank you
Re: How would you invest?
180 months is a hell of a time. Personally, I'd go much shorter, 1 year to 3 max.Zyzz wrote: ↑Wed Feb 28, 2024 7:42 pm Went in acleda today to ask some questions and either i calculated wrong or im missing something but based on these example numbers...
160k usd but converted to riels ... at 7.75% 180 months. On the cd calculator site i used it says around 1750 or 1800 before tax taken out. At acleda they were saying i should expect around 950 per month after tax taken out.
Can someone help me understand why im getting different numbers? The cd calculator site is very simple to use. Just asks for amount being deposited.. amount of time... percentage rate and i just divided that by the amount of months in the term.
Thank you
I am sure you have your reasons. Do you mind sharing them?
If you decide to do the 180 months, ask them what kind of penalties you'd incur if you have to close the deposit early.
I once had to close a yearly deposit at another bank a couple of months earlier, and I got almost nothing in interest, instead of 6%.
If you are doing the monthly thing, they may actually claw back those payments.
Re: How would you invest?
Well acleda pays every 3 months... i figured id earn the most money on the longest term with a pretty high rate. I have other funds and investments too.
Feel a bit dumb now getting caught up with the cd calculator... i thought the longer term would earn more per month. Now just doing the math guess id earn the same per year even with a shorter term if percentage is the same or if i can find a higher percentage rate.
Cd calc was giving me bad information for some reason
Feel a bit dumb now getting caught up with the cd calculator... i thought the longer term would earn more per month. Now just doing the math guess id earn the same per year even with a shorter term if percentage is the same or if i can find a higher percentage rate.
Cd calc was giving me bad information for some reason
Re: How would you invest?
Putting your money anywhere in any investment except real estate for 15 years is complete insanity especially in a fixed term deposit in a Cambodian bank. 15 years is a really Looooooong time to put money in a fixed deposit. Hard to believe Acleda even offers a product like that.
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Stravaiger
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Re: How would you invest?
In general, depositing a larger sum doesn't get a higher rate.
If you want to bank say $20k for a year, split it in two or three so that if you need to access cash for an unexpected expense you don't lose the annual rate on the whole sum.
In fact consider splitting it between different institutions.
Most banks still pay the default rate for the length of time the capital was untouched, that rate often being what they would give on a normal savings account e.g. 3%. But check this.
If you want to bank say $20k for a year, split it in two or three so that if you need to access cash for an unexpected expense you don't lose the annual rate on the whole sum.
In fact consider splitting it between different institutions.
Most banks still pay the default rate for the length of time the capital was untouched, that rate often being what they would give on a normal savings account e.g. 3%. But check this.
Re: How would you invest?
I checked, they do offer it. 6,35% for 180 months dollar deposit. For those with a very large trust in the Cambodian system.Cooldude wrote: ↑Wed Feb 28, 2024 9:01 pm Putting your money anywhere in any investment except real estate for 15 years is complete insanity especially in a fixed term deposit in a Cambodian bank. 15 years is a really Looooooong time to put money in a fixed deposit. Hard to believe Acleda even offers a product like that.
Re: How would you invest?
Afaik you get more at AMK in 18 months...
Driving on Cambodian roads is just like playing a classic arcade top scroller. The only difference is a force feedback controller, the limitation to only one life and the inability to restart, once Game Over
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HaifongWangchuck
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Re: How would you invest?
Re: How would you invest?
Panda Bank gave me 10% on USD, 12 month term today as a leap year day promotion. Their usual rate is 8.88% for 12 months term deposit on USD or 9.88% on KHR.
They also offer 7% p.a. treasure vault account, interest paid daily and therefore compounding daily.
And yes, I've done my research (in Khmer and English) and know who the main shareholders are (you'll find reports by some NGOs on them and if you really dig reports of travel embargoes)
My money is well spread and timed for exit.
For longer term I like WOORI (was 9%) and SOL (is 9.1%).
AMK, AMRET & co. also.
They also offer 7% p.a. treasure vault account, interest paid daily and therefore compounding daily.
And yes, I've done my research (in Khmer and English) and know who the main shareholders are (you'll find reports by some NGOs on them and if you really dig reports of travel embargoes)
My money is well spread and timed for exit.
For longer term I like WOORI (was 9%) and SOL (is 9.1%).
AMK, AMRET & co. also.
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