ACB Bank offering 15%
ACB Bank offering 15%
It's a sad day but money never sleeps and all that.
These guys are offering 15% on 1-year fixed term deposits. Does anyone have any experience/knowledge of them?
R
These guys are offering 15% on 1-year fixed term deposits. Does anyone have any experience/knowledge of them?
R
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Is it for a Riel account or a US$ account?RobW wrote:It's a sad day but money never sleeps and all that.
These guys are offering 15% on 1-year fixed term deposits. Does anyone have any experience/knowledge of them?
R
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Are you talking about Angkor Capital Bank?RobW wrote:It's a sad day but money never sleeps and all that.
These guys are offering 15% on 1-year fixed term deposits. Does anyone have any experience/knowledge of them?
R
I think there has been a thread discussing their dreamy attractive rates.
If i remembered well, they can offer those rates because they're backed by their mother company in the US.
Kind of like Campu Bank offering the lowest lending rate because they're backed by their Malaysian HQ.
A bunch of crooks headed (and owned) by a scammer. Stay away.
If they offer 15% now for one year fixed term it means they'll have gone (either away or under) in less than 12 months.
The American bosse's office on the 1st floor is next to his other venture's office, some film company in laos & some gambling ventures. Not esp what I'd call an AAA rating. Shady histories at best, plain crooks in my (infomed) opinion.
If they offer 15% now for one year fixed term it means they'll have gone (either away or under) in less than 12 months.
The American bosse's office on the 1st floor is next to his other venture's office, some film company in laos & some gambling ventures. Not esp what I'd call an AAA rating. Shady histories at best, plain crooks in my (infomed) opinion.
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to use a bit of common sense, if a bank is offering 15% int, then logically, they would have to make a profit from your money. How? Where in the world at the moment can you get >15% return on an investment? Oz has one of the highest official rates in the western world and it's on around 6 or 7% and its a wealthy country. The US has rock bottom intertest rates, why? because there's no demand. To offer those rates, it would have to be a very risky investment indeed, a bit like playing roulette at Naga, otherwise ITS A SCAM!!logos wrote:A bunch of crooks headed (and owned) by a scammer. Stay away.
If they offer 15% now for one year fixed term it means they'll have gone (either away or under) in less than 12 months.
The American bosse's office on the 1st floor is next to his other venture's office, some film company in laos & some gambling ventures. Not esp what I'd call an AAA rating. Shady histories at best, plain crooks in my (infomed) opinion.
Campu is backed by huge financial organisation in the Asia-Pacific that operates transparently and successfully in some very stringent countries and has a publicly listed parent company.Himegoto wrote:Are you talking about Angkor Capital Bank?RobW wrote:It's a sad day but money never sleeps and all that.
These guys are offering 15% on 1-year fixed term deposits. Does anyone have any experience/knowledge of them?
R
I think there has been a thread discussing their dreamy attractive rates.
If i remembered well, they can offer those rates because they're backed by their mother company in the US.
Kind of like Campu Bank offering the lowest lending rate because they're backed by their Malaysian HQ.
You cannot compare it with most other Cambodian banking operations.
As for the 15% interest rate this is about double or triple the going rate for Dollar deposit - most banks offer less than 5 or 6%.
This kind of interest rate might just be possible for Khmer Riel deposits but if it is for Dollars then I wouldn't touch it and would immediately withdraw any money I had in that institution.
Can the OP clarify the bank in question because I cannot find any reference on the alleged banks website and haven't seen any advert for this rate?
Do you mean ACB or CAB or CCB or SCB? These alphabet banks are easy to confuse...
I'm assuming that you are referring to Angkor Capital and not Asia Commercial Bank?logos wrote:A bunch of crooks headed (and owned) by a scammer. Stay away.
If they offer 15% now for one year fixed term it means they'll have gone (either away or under) in less than 12 months.
The American bosse's office on the 1st floor is next to his other venture's office, some film company in laos & some gambling ventures. Not esp what I'd call an AAA rating. Shady histories at best, plain crooks in my (infomed) opinion.
Asia Commercial Bank website
Offering around 4% on usd, considerably more on vnd.
Angkor Capital Bank now offering just 3%, were offering 7.5% in March.
http://www.angkorcapitalbank.com/rates.html
from http://www.cpbebank.com/cpeb/index.html
Withholding tax of 6% and 14% will be imposed on Interest Earned for Fixed Deposits for Residents and Non-Residents respectively.
If I hold a lease on a house and have a nice, long business visa, does that make me a resident or do they mean Khmer passport holders?
Pardon my ignorance, but if I am making 4.25% yearly interest, will the 14% be taken from my interest earnings or the total? I assume the former.
Withholding tax of 6% and 14% will be imposed on Interest Earned for Fixed Deposits for Residents and Non-Residents respectively.
If I hold a lease on a house and have a nice, long business visa, does that make me a resident or do they mean Khmer passport holders?
Pardon my ignorance, but if I am making 4.25% yearly interest, will the 14% be taken from my interest earnings or the total? I assume the former.
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