Hattha Bank:
safest bank here (in the event of economic collapse)??
Most MIFI's have probably reduced their deposit rates at the end of 2020. I have heard that it's getting harder to find new lenders in this current economic climate, which is actually responsible behavior by the potential lenders but also highlights the shared feeling of a very uncertain outlook or clear indicators when things will improve.
As an example, here are Hattha's new rates, slashing between 0.25 and 1%:
https://hatthabank.com/product-service/ ... rn-deposit
For KHR, Amret has cut rates as well but not for their 4 & 5 year contract lengths, which remain at 10%.
As an example, here are Hattha's new rates, slashing between 0.25 and 1%:
https://hatthabank.com/product-service/ ... rn-deposit
For KHR, Amret has cut rates as well but not for their 4 & 5 year contract lengths, which remain at 10%.
Was just informed by Hattha Bank Kampot branch that they're running a special for March & April, offering half a percent more on top of the current deposit rates (starting with a 6 month contract to a 36 month one).
That would make them 7.25% on 12M USD, the same as LOLC Prasac WB.
Amk is 7.00% Amret is 6.75%.
Quick access accounts are paying 3%. 3.5% if you maintain a balance over $5k.
For comparison ABA offers 0.15% on quick access and 3.5/3.75% on 12M terms.
The Hattha HYSA account with the higher balance allowing 3 withdrawals via 3 different methods per month even pays 4%.
Makes a nice change from the 0.2% Acleda pays for USD balances (0.7% for KHR).
The gov must be under tremendous pressure to let the riel peg go.
It would be costing the treasury many millions of us $ to buy riel to have it at 4,000ish.
Sovereign risk has got to be at its riskiest than ever before.
Hence the high interest rates.
It would be costing the treasury many millions of us $ to buy riel to have it at 4,000ish.
Sovereign risk has got to be at its riskiest than ever before.
Hence the high interest rates.
Yeah, there are reasons the government is pushing that much to increase export, as well that garment industry is not closed, gambling industry is not closed, etc, despite those showing to be the biggest Covid-19 clusters and spreaders.My fav thread wrote: ↑Mon Apr 12, 2021 6:37 amThe gov must be under tremendous pressure to let the riel peg go.
It would be costing the treasury many millions of us $ to buy riel to have it at 4,000ish.
Sovereign risk has got to be at its riskiest than ever before.
Hence the high interest rates.
Under present circumstances which may prevail for at least another 3 years, if the riel was floated away without any central bank supports, the exchange rate could easily reach 20,000 riel or more to the american dollar.
Thinking of the old, "IF it seems to good to be true,..." quote, how high would micro-finance term deposit rates need to be for you to say, "Nope, this must mean they are F'kd?"
Or at least they are very confident high inflation is around the corner.
Or at least they are very confident high inflation is around the corner.
Back to the good old days of 14% per annum at Chamroeun Microfinance or the very common 12% at AMK, VisionFund, Kredit etc.Guest9999 wrote: ↑Thu Apr 15, 2021 7:35 pmThinking of the old, "IF it seems to good to be true,..." quote, how high would micro-finance term deposit rates need to be for you to say, "Nope, this must mean they are F'kd?"
Or at least they are very confident high inflation is around the corner.
I did well enough out of those, and the exchange rate back then was about 4250:1 as well.
The 7-8% offered now is pathetic.
I'm going to start buying more land.
In case the economy crashes not a single bank is safe. No matter which one. They are all under Cambodian regulation which some say may be better than under western regulation. The big bang will come. It's not If but WHEN. Buying property may be safe but perhaps not so much as a foreigner here. And the big issue remaining is the lingering INFLATION! PAPER/FIAT MONEY IS ALREADY ON IT'S WAY OUT and e-wallets are planned for the Euro in 4 years. Max. Amount u can hold on a e-wallet is 3000 euro. The US will not be far behind.
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