Bank interest comparison

Cooldude · Post by **Cooldude** » Wed Jan 04, 2023 1:50 pm

daeum_tnaot wrote: ↑Wed Jan 04, 2023 1:35 pm I'm checking the latest interest rates I could see for the highest rates on offer.

I'm comparing Woori Bank, LOLC, Prasac and Hattha Kaksekar. Rates all seem to be between 7.25 and 7.9%.

Previously someone on this board posted that LOLC is risky as they are not transparent on their ownership. Does anyone have a comment on LOLC?

LOLC were the major shareholders in Prasac that sold their interest to KB Financial. LOLC is a Sri Lankan conglomerate that seemed to have done a decent job when they managed Prasac.

Kenr · Post by **Kenr** » Wed Jan 04, 2023 1:57 pm

Right before I left the US I deposited a chunk of money into a 5-year CD at my bank, Capital One, that had climbed to 4.25% APY, 4.1694% APR. Savings Account rate has now jumped from 3.00% APY before I left to 3.30% APY and a 5-year CD has jumped to 4.40% APY in December. I am now making more money in interest in one (1) day than I used to make in a year at Wells Fargo.

The main thing that makes me weary of opening one here is the risk factor, whether justified or not, plus that damn FBAR.

daeum_tnaot · Post by **daeum_tnaot** » Wed Jan 04, 2023 2:31 pm

Cooldude wrote: ↑Wed Jan 04, 2023 1:50 pm
daeum_tnaot wrote: ↑Wed Jan 04, 2023 1:35 pm I'm checking the latest interest rates I could see for the highest rates on offer.

I'm comparing Woori Bank, LOLC, Prasac and Hattha Kaksekar. Rates all seem to be between 7.25 and 7.9%.

Previously someone on this board posted that LOLC is risky as they are not transparent on their ownership. Does anyone have a comment on LOLC?
LOLC were the major shareholders in Prasac that sold their interest to KB Financial. LOLC is a Sri Lankan conglomerate that seemed to have done a decent job when they managed Prasac.

OK, so you think LOLC is decent? I thought Woori bought up Prasac. I am considering getting a Thai Baht account at Hatta Kaksekar. They claim they are offering 7.25% on Thai Baht for one year.

Cooldude · Post by **Cooldude** » Wed Jan 04, 2023 2:46 pm

I've never heard of the bank you've mentioned. Prasac, Woori and LOLC all have foreign ownership.

Province · Post by **Province** » Wed Jan 04, 2023 3:26 pm

ABA 1 year fixed deposit Riel: 8%,3 year 9%.USD 6%.

daeum_tnaot · Post by **daeum_tnaot** » Thu Jan 05, 2023 9:25 pm

Cooldude wrote: ↑Wed Jan 04, 2023 2:46 pm I've never heard of the bank you've mentioned. Prasac, Woori and LOLC all have foreign ownership.

Here is their page where they talk about their history: https://hkl.com.kh/en/detail/view/41/34?ctype=article

Looks like they are primarily funded by a Thai bank Krungsri.

Last annual report was in 2018 doesn't look very promising!

Cooldude · Post by **Cooldude** » Thu Jan 05, 2023 10:22 pm

Last annual report was in 2018 doesn't look very promising!

Wouldn't get involved in a financial Institute like this with someone else's money.

pissontheroof · Post by **pissontheroof** » Fri Jan 06, 2023 4:05 am

Province wrote: ↑Wed Jan 04, 2023 3:26 pm ABA 1 year fixed deposit Riel: 8%,3 year 9%.USD 6%.

I thought reil was 9% , because it could lose value .

I just did a 3 year , for my offspring , I doubt i will be around in 3

Zyzz · Post by **Zyzz** » Wed Jan 10, 2024 10:37 am

prasac
woori
hattha
lolc

seem to be the ones with the best rates now (8% or higher) im reading its better to use a bank than a micro finance, why is that? thank you.

i plan to do the monthly interest pay out and have that sent to a high yield savings account (im seeing 3-4

and also add funds to those. also set up shorter term fixed deposits so they all mature at the same time and then just start over. if rates stay high i plan to retire on this idea.. also thought of mixing it up with different banks for safety in case something happened. i do this in usa now but rates are lower so i cant really retire on that but in usa you are fdic insured.

hoping to not have a problem proving im a resident , im going to move there soon ... if so guess ill have to do a joint account with soon to be wife.

also has anyone had issues transferring large amounts of funds to cambodia from usa or their home country? one bank said they only send to 25 countries and cambodia wasnt one of them, other bank said it shouldnt be an issue. somebody i spoke to about this said bank may ask a bunch of questions... guess i will have to wait and see.

newkidontheblock · Post by **newkidontheblock** » Wed Jan 10, 2024 5:34 pm

Kenr wrote:Right before I left the US I deposited a chunk of money into a 5-year CD at my bank, Capital One, that had climbed to 4.25% APY, 4.1694% APR. Savings Account rate has now jumped from 3.00% APY before I left to 3.30% APY and a 5-year CD has jumped to 4.40% APY in December. I am now making more money in interest in one (1) day than I used to make in a year at Wells Fargo.

The main thing that makes me weary of opening one here is the risk factor, whether justified or not, plus that damn FBAR.

Wells Fargo’s only redeeming value is that they can get currency of whatever country I want to travel to. Otherwise has the highest minimum required of all their banking products and either zero or near zero returns. They want all transactions to go through their credit card/banking card and not actually deal with a customer. CITIBANK is the worst in my book.

Sorry to vent and derail this thread.

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