Table of bank and MFI deposit rates?
AMK rate table here supposedly
http://www.amkcambodia.com/amk-en-fixed ... t-196.html
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http://www.amkcambodia.com/amk-en-fixed ... t-196.html
Sent from my iPhone using Tapatalk
Well Oo', I went to the AMK site and the chart says, yes, 7.25% USD, but 10.00% KHR .
I dug out the USD Certificate of Deposit and it says 10.50% P.A.
Now the interesting thing here is that it says (on both Certificates) that the tax rate is 6.00% P.A.
I have to admit I didn't notice that before and I won't point out the error when I pick up the interest next year.
Looking at the pamphlet concerning the "Special Offer" at my branch of CMK it says "7% Net Guarantee".
They've never mentioned tax and neither have I.
I dug out the USD Certificate of Deposit and it says 10.50% P.A.
Now the interesting thing here is that it says (on both Certificates) that the tax rate is 6.00% P.A.
I have to admit I didn't notice that before and I won't point out the error when I pick up the interest next year.
Looking at the pamphlet concerning the "Special Offer" at my branch of CMK it says "7% Net Guarantee".
They've never mentioned tax and neither have I.
Are you 100% it's in Riel?
The money will automatically go into your savings account, after 12 months, which you will then withdraw at the cashpoint. If you have auto invest set (it will say on the certificate) then don't take it in!
They might not notice but...this is Cambodia...
The money will automatically go into your savings account, after 12 months, which you will then withdraw at the cashpoint. If you have auto invest set (it will say on the certificate) then don't take it in!
They might not notice but...this is Cambodia...
pew, pew, pew, pew!
Lucky enough, should you receive 10.5% interest on your USD term deposit with 6% withholding tax as resident at the end of maturity!SHiVer wrote:Well Oo', I went to the AMK site and the chart says, yes, 7.25% USD, but 10.00% KHR .
I dug out the USD Certificate of Deposit and it says 10.50% P.A.
Now the interesting thing here is that it says (on both Certificates) that the tax rate is 6.00% P.A.
I have to admit I didn't notice that before and I won't point out the error when I pick up the interest next year.
Looking at the pamphlet concerning the "Special Offer" at my branch of CMK it says "7% Net Guarantee".
They've never mentioned tax and neither have I.
I didn't know CMK entertains nonresident foreigner (or they may not differentiate resident and nonresident, though they ought to).
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Yes, this is Cambodia. Everything is possible and negotiable, which is why I like it indeed.YaTingPom wrote:Are you 100% it's in Riel?
The money will automatically go into your savings account, after 12 months, which you will then withdraw at the cashpoint. If you have auto invest set (it will say on the certificate) then don't take it in!
They might not notice but...this is Cambodia...
Sent from my iPhone using Tapatalk
Anyone noticed deposit rates curtail effective this April?
NBC capped MFIs lending rates up to 18% p.a. from Apr, so I wonder if there is already impact onto deposit rate as well.
I cross checked a few websites of deposit taking MFIs but just to find it unchanged. Well, they may not have updated the websites yet though.
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NBC capped MFIs lending rates up to 18% p.a. from Apr, so I wonder if there is already impact onto deposit rate as well.
I cross checked a few websites of deposit taking MFIs but just to find it unchanged. Well, they may not have updated the websites yet though.
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AMK have quietly adjusted their rates during the last month.
Previously they were offering 10.5% for 12mth, 11% for 18mth, 12% for 36mth on KHR deposits. These are the new, substantially lower rates http://www.amkcambodia.com/amk-en-fixed ... t-196.html
Previously they were offering 10.5% for 12mth, 11% for 18mth, 12% for 36mth on KHR deposits. These are the new, substantially lower rates http://www.amkcambodia.com/amk-en-fixed ... t-196.html
YaTingPom wrote:Rates won't change for depositors.
Let me clarify.
Short term the rates will increase. Long term they will return to normal. 12 months time it'll be back to businesses as usual conning the poor.
pew, pew, pew, pew!
Hi everyone,
Do anyone uses CP bank here (Cambodia post bank)? It seems they do have a pretty fixed deposit rate, according to website 8%, don't know how many years..
Do you have detailed rate breakdown? I think it should be "safer" than MFIs, at least it's a bank, but why I didn't see anyone recommend it here? Any suggestion? Thanks.
Do anyone uses CP bank here (Cambodia post bank)? It seems they do have a pretty fixed deposit rate, according to website 8%, don't know how many years..
Do you have detailed rate breakdown? I think it should be "safer" than MFIs, at least it's a bank, but why I didn't see anyone recommend it here? Any suggestion? Thanks.
It's been around only two years so has no track record. Plus it's part of the post office, one of the most pettily corrupt parts of the government. I wouldn't touch it with a barge pole.Ste0919 wrote:Hi everyone,
Do anyone uses CP bank here (Cambodia post bank)? It seems they do have a pretty fixed deposit rate, according to website 8%, don't know how many years..
Do you have detailed rate breakdown? I think it should be "safer" than MFIs, at least it's a bank, but why I didn't see anyone recommend it here? Any suggestion? Thanks.
http://www.phnompenhpost.com/business/c ... an-mfi-12m
Established in 2013, CP (Cambodia Post) Bank is jointly owned by CIHP, (Canadia Investment Holding Plc) which holds a 50 percent stake, and Singapore-based Fullerton Financial Holdings, with a 45 percent stake. State-owned Cambodia Post holds the remaining 5 percent share.
Should be good for the medium term at least.
Although personally, I'd go with Sathapana Bank or Hattha Kaksekar Limited for a similar rate and perhaps better security.
Established in 2013, CP (Cambodia Post) Bank is jointly owned by CIHP, (Canadia Investment Holding Plc) which holds a 50 percent stake, and Singapore-based Fullerton Financial Holdings, with a 45 percent stake. State-owned Cambodia Post holds the remaining 5 percent share.
Should be good for the medium term at least.
Although personally, I'd go with Sathapana Bank or Hattha Kaksekar Limited for a similar rate and perhaps better security.
I popped into my local Prasac after work today to open another term deposit account.
Whilst I was there the teller told me that they are adjusting their rates for term deposits on September 1st.
I asked if she knew if they would be increasing or decreasing the interest rate and she showed me the internal memo; they will be reducing their rates quite dramatically. Most account options were about 3/4% less than their current rates. The account type I had just opened, a 36mth Riel account currently offers 10.3% it will be reduced to 7.4%.
I didn't get a chance to look at the document closely, the teller was verbally reprimanded by her supervisor and she withdraw the memo from the counter and apologised.
Whilst I was there the teller told me that they are adjusting their rates for term deposits on September 1st.
I asked if she knew if they would be increasing or decreasing the interest rate and she showed me the internal memo; they will be reducing their rates quite dramatically. Most account options were about 3/4% less than their current rates. The account type I had just opened, a 36mth Riel account currently offers 10.3% it will be reduced to 7.4%.
I didn't get a chance to look at the document closely, the teller was verbally reprimanded by her supervisor and she withdraw the memo from the counter and apologised.
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