Recommended Fixed​ Deposit Companies?

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Province
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Recommended Fixed​ Deposit Companies?

Post by Province »

ABA and Acleda seems to be ok,are there any better choices for fixed deposit accounts?
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johnny lightning
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Re: Recommended Fixed​ Deposit Companies?

Post by johnny lightning »

Had one with Amret for 10 years. So far so good. 6.6% USD per annum.
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Bluenose
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Re: Recommended Fixed​ Deposit Companies?

Post by Bluenose »

ABA you can just set up on the app in about 20 seconds, a lot quicker and easier than with the other two banks I use.
Strange how Amret seem to give a higher rate for USD than KHR, the others I've looked at do it the other way round.
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Kammekor
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Re: Recommended Fixed​ Deposit Companies?

Post by Kammekor »

Bluenose wrote: ↑Mon Dec 18, 2023 1:55 pm ABA you can just set up on the app in about 20 seconds, a lot quicker and easier than with the other two banks I use.
Strange how Amret seem to give a higher rate for USD than KHR, the others I've looked at do it the other way round.
Maybe apples and pears? One pays monthly, the other at the end of the term?
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Bluenose
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Re: Recommended Fixed​ Deposit Companies?

Post by Bluenose »

Kammekor wrote: ↑Mon Dec 18, 2023 5:00 pm
Bluenose wrote: ↑Mon Dec 18, 2023 1:55 pm ABA you can just set up on the app in about 20 seconds, a lot quicker and easier than with the other two banks I use.
Strange how Amret seem to give a higher rate for USD than KHR, the others I've looked at do it the other way round.
Maybe apples and pears? One pays monthly, the other at the end of the term?
Amret offers both options, both have higher rates for USD. Other banks offer both as well, but always better rate for KHR
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Fridaywithmateo
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Re: Recommended Fixed​ Deposit Companies?

Post by Fridaywithmateo »

https://m.phnompenhpost.com/business/wi ... erest-rate
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Clutch Cargo
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Re: Recommended Fixed​ Deposit Companies?

Post by Clutch Cargo »

Cleaned up this topic. @Earl of Mercia and @Alex Please do not derail with off topic posts.
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armchairlawyer
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Re: Recommended Fixed​ Deposit Companies?

Post by armchairlawyer »

Banks offer higher rates for a reason. The rates on KHR deposits have always been higher until now. It has been in the news that USD deposits have been getting withdrawn so they need to replace those funds. The reason the USD have been moving out is that the differential between the interest rate you can get in USD in the US money market and the interest rate you can get from Cambodian banks has shrunk from 7% to 3% or less. So the risk reward balance has changed significantly. To maintain the previous risk reward, banks here would need to be offering about 12% on USD deposits.
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