How would you invest?

Zyzz · Post by **Zyzz** » Thu Feb 29, 2024 10:33 pm

Rama wrote: ↑Thu Feb 29, 2024 7:58 pm 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.

Thanks. But never heard of panda bank seems a bit too good to be true... any other info on them? Think its a safe choice? How long do you think they will offer 10%? Whole year? Thanks

Zyzz · Post by **Zyzz** » Sat Mar 02, 2024 10:17 pm

Anyone know anything about wing bank... seems pretty popular here. Rates seem high at 8.50 for usd with a monthly pay out and good reinvestment options for earned interest.

Direwolf · Post by **Direwolf** » Wed Mar 20, 2024 4:50 pm

I recently made some fixed deposit 5yo with Canadia
USD 6.25%
KHR 7.60%

most of the money is in the USD, because I thinkt it's possible one day they could remove the fix rate USD-KHR with the latter losing so much.

What is your opinion on this? You choose the deposit only based on interest rate?

Kammekor · Post by **Kammekor** » Wed Mar 20, 2024 7:22 pm

Direwolf wrote: ↑Wed Mar 20, 2024 4:50 pm I recently made some fixed deposit 5yo with Canadia
USD 6.25%
KHR 7.60%

most of the money is in the USD, because I thinkt it's possible one day they could remove the fix rate USD-KHR with the latter losing so much.

What is your opinion on this? You choose the deposit only based on interest rate?

5 years is a very, very long time, you know?

I wouldn't, in Cambodia.

Direwolf · Post by **Direwolf** » Thu Mar 21, 2024 10:43 am

Kammekor wrote: ↑Wed Mar 20, 2024 7:22 pm
Direwolf wrote: ↑Wed Mar 20, 2024 4:50 pm I recently made some fixed deposit 5yo with Canadia
USD 6.25%
KHR 7.60%

most of the money is in the USD, because I thinkt it's possible one day they could remove the fix rate USD-KHR with the latter losing so much.

What is your opinion on this? You choose the deposit only based on interest rate?
5 years is a very, very long time, you know?

I wouldn't, in Cambodia.

could you please explain why? You don't trust Cambodian banks for return the money in 5 years?

Since I don't need the money, I selected 5 years so I 'm sure of the fixed interest rate;
otherwise a yearly deposit may get maybe lower to 2/3% in the future.

Kammekor · Post by **Kammekor** » Thu Mar 21, 2024 11:39 am

Direwolf wrote: ↑Thu Mar 21, 2024 10:43 am
Kammekor wrote: ↑Wed Mar 20, 2024 7:22 pm
Direwolf wrote: ↑Wed Mar 20, 2024 4:50 pm I recently made some fixed deposit 5yo with Canadia
USD 6.25%
KHR 7.60%

most of the money is in the USD, because I thinkt it's possible one day they could remove the fix rate USD-KHR with the latter losing so much.

What is your opinion on this? You choose the deposit only based on interest rate?
5 years is a very, very long time, you know?

I wouldn't, in Cambodia.
could you please explain why? You don't trust Cambodian banks for return the money in 5 years?

Since I don't need the money, I selected 5 years so I 'm sure of the fixed interest rate;
otherwise a yearly deposit may get maybe lower to 2/3% in the future.

No, I don't trust Cambodian bank with my money for a five year period. I am reluctant for one year, but at least then I have the chance to make another assessment each year.

Cooldude · Post by **Cooldude** » Thu Mar 21, 2024 12:23 pm

No, I don't trust Cambodian bank with my money for a five year period. I am reluctant for one year, but at least then I have the chance to make another assessment each year.

Plus, one of the major reasons to keep your term deposits at one year is the fact that Cambodian banks or MDIs don't compound their interest. Your stated rate on a five year term deposit is much lower when you compare it to renewing a term deposit every year and reinvesting your principal plus interest from the previous year.

Direwolf · Post by **Direwolf** » Fri Mar 22, 2024 8:38 am

Cooldude wrote: ↑Thu Mar 21, 2024 12:23 pm No, I don't trust Cambodian bank with my money for a five year period. I am reluctant for one year, but at least then I have the chance to make another assessment each year.

Plus, one of the major reasons to keep your term deposits at one year is the fact that Cambodian banks or MDIs don't compound their interest. Your stated rate on a five year term deposit is much lower when you compare it to renewing a term deposit every year and reinvesting your principal plus interest from the previous year.

that is a good point indeed.

the 7.6% in 5Y means 38% at the end (no compound) and lose the interest in case it's unfixed
it would be better the 1y 6.80 which compounded should be 39% in 5y, and I am sure I get the interest

The only disadvantege would be if they lower the yearly interest rate in the future, but probably not to similar values to US ones.

Thanks for your suggestions, I have reconsidered to cancel them and block at 1Y step.

what about USD or KHR, makes any differences for you?

Kammekor · Post by **Kammekor** » Fri Mar 22, 2024 8:44 am

Direwolf wrote: ↑Fri Mar 22, 2024 8:38 am
Cooldude wrote: ↑Thu Mar 21, 2024 12:23 pm No, I don't trust Cambodian bank with my money for a five year period. I am reluctant for one year, but at least then I have the chance to make another assessment each year.

Plus, one of the major reasons to keep your term deposits at one year is the fact that Cambodian banks or MDIs don't compound their interest. Your stated rate on a five year term deposit is much lower when you compare it to renewing a term deposit every year and reinvesting your principal plus interest from the previous year.
that is a good point indeed.

the 7.6% in 5Y means 38% at the end (no compound) and lose the interest in case it's unfixed
it would be better the 1y 6.80 which compounded should be 39% in 5y, and I am sure I get the interest

The only disadvantege would be if they lower the yearly interest rate in the future, but probably not to similar values to US ones.

Thanks for your suggestions, I have reconsidered to them and block at 1Y step.

what about USD or KHR, makes any differences for you?

About the compounding, you could deposit the interest in a separate deposit. It's a bit of a hassle, every year again, but that way you can more or less compound. Don't forget they will deduct income tax from your interest, so 7.6% doesn't mean 38% in 5 years time.

About the KHR, do you know you can't exchange your KHR anywhere outside of Cambodia? I wouldn't put any savings in those, despite the National Bank of Cambodia having a solid track record of pegging it to the USD.

Stravaiger · Post by **Stravaiger** » Fri Mar 22, 2024 4:57 pm

Stravaiger wrote: ↑Thu Feb 29, 2024 3:02 pm 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.

Further to this, KB Prasac pay 2.5% on savings accounts and if you close a term deposit e.g. @7.5% early they will give you 2.5% to date.

Woori Bank pay 3% on savings accounts but if you close a term deposit early they will only pay 1%.

You have to ask each institution, and terms and conditions are subject to change.

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