How would you invest?
Re: How would you invest?
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? ThanksRama 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.
Re: How would you invest?
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.
Re: How would you invest?
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?
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?
Re: How would you invest?
5 years is a very, very long time, you know?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?
I wouldn't, in Cambodia.
Re: How would you invest?
could you please explain why? You don't trust Cambodian banks for return the money in 5 years?Kammekor wrote: ↑Wed Mar 20, 2024 7:22 pm5 years is a very, very long time, you know?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?
I wouldn't, in Cambodia.
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.
Re: How would you invest?
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.Direwolf wrote: ↑Thu Mar 21, 2024 10:43 amcould you please explain why? You don't trust Cambodian banks for return the money in 5 years?Kammekor wrote: ↑Wed Mar 20, 2024 7:22 pm5 years is a very, very long time, you know?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?
I wouldn't, in Cambodia.
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.
Re: How would you invest?
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.
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.
Re: How would you invest?
that is a good point indeed.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.
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?
Re: How would you invest?
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.Direwolf wrote: ↑Fri Mar 22, 2024 8:38 amthat is a good point indeed.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.
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 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.
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Re: How would you invest?
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.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.
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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