Recommended Fixed Deposit Companies?
Recommended Fixed Deposit Companies?
ABA and Acleda seems to be ok,are there any better choices for fixed deposit accounts?
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- Expatriate
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Re: Recommended Fixed Deposit Companies?
Had one with Amret for 10 years. So far so good. 6.6% USD per annum.
Re: Recommended Fixed Deposit Companies?
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.
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.
Re: Recommended Fixed Deposit Companies?
Maybe apples and pears? One pays monthly, the other at the end of the term?
Re: Recommended Fixed Deposit Companies?
- Fridaywithmateo
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Re: Recommended Fixed Deposit Companies?
Cleaned up this topic. @Earl of Mercia and @Alex Please do not derail with off topic posts.
- armchairlawyer
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Re: Recommended Fixed Deposit Companies?
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 It has been in the news that USD deposits have been getting withdrawn so they need to replace those funds.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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