The maximum is 18% per annum by government regulation. I think they might go around it a little with fees but if it is 22.5%/year that's quite high.reflexline wrote:I had always wondered what the MFIs charged for loans. I figured it was around 30% per annum so I was surprised to hear that the sister-in-law had been approved for a $700 loan at 45% interest for two years. $380 interest on a $700 principal, secured by assets - not a bad business to be in at all.
Table of bank and MFI deposit rates?
It's been a while and I wonder whether anyone knows whether there have been any changes; i.e. are there any FTD rates now that are higher than 8%?
I thought Vision Fund was higher but it looks like they have been bought out by a Korean bank and now their website is offline.
Are there any signs that the government is going to back off their policy of 18% per annum as a max, or are they sticking to this?
Thanks!
I thought Vision Fund was higher but it looks like they have been bought out by a Korean bank and now their website is offline.
Are there any signs that the government is going to back off their policy of 18% per annum as a max, or are they sticking to this?
Thanks!
mumanow wrote:Here is an up-to-date table of all relevant banks and MFIs, showing interest rates, SWIFT costs, and current total deposits with each institution.
Side note: Prasac is currently running a promotion for Khmer new year, offering 8% for a 12 months fixed-deposit (7.75% with monthly interest).
LOLC offering 9% on KHR & USD for 60month term (!) and 8.5% 36mth
https://www.lolc.com.kh/eng/Deposit.aspx
Kredit offering 9.65% KHR & 8.25% for 36mth and 9.5% & 8.25% for 24mth.
https://kredit.com.kh/en/pages/deposit/ ... it-account
https://www.lolc.com.kh/eng/Deposit.aspx
Kredit offering 9.65% KHR & 8.25% for 36mth and 9.5% & 8.25% for 24mth.
https://kredit.com.kh/en/pages/deposit/ ... it-account
Is Visionfund still ok?
I just noticed they had "only" $36M in deposit.
This seems to be the lowest from all the MFI banks,..... ????
I just noticed they had "only" $36M in deposit.
This seems to be the lowest from all the MFI banks,..... ????
It no longer exists. It was bought by Woori Bank http://m.phnompenhpost.com/business/sou ... visionfundsteevee wrote:Is Visionfund still ok?
I just noticed they had "only" $36M in deposit.
This seems to be the lowest from all the MFI banks,..... ????
Thanks for this link Rama,
I missed this one.
I was also happy to read in your link:
I also noticed that they opened a new head office.
Still I think I will have to follow what will happen in the future with this.
Perhaps it is safer for me to move out of Vision.
I missed this one.
I was also happy to read in your link:
So Vision fund assets went from $36M to $194M.The NBC’s annual supervisory report said the total assets of VisionFund (Cambodia) amounted to $194 million at the end of last year.
I also noticed that they opened a new head office.
Still I think I will have to follow what will happen in the future with this.
Perhaps it is safer for me to move out of Vision.
No. In bankspeak, giving out a loan creates an asset. Accepting a deposit creates a liability.steevee wrote:So Vision fund assets went from $36M to $194M.
The table I posted lists only the amount of actual deposits with the bank/MFI, not its "assets".
I see that the stock exchange is trying to attract companies to list on the exchange, including for issuing bonds. Let's say the bond rates are similar to these rates, who would be investing there? Certainly no wealthy Khmers, and it seems that expats with money are content enough with these MFI rates.
Is there any way in which one can easily trade shares here with an online account? I would possibly invest a few bucks if I could do so without moving by backside from my settee.amirite wrote:I see that the stock exchange is trying to attract companies to list on the exchange, including for issuing bonds. Let's say the bond rates are similar to these rates, who would be investing there? Certainly no wealthy Khmers, and it seems that expats with money are content enough with these MFI rates.
TheGrimReaper wrote: ↑Mon Sep 02, 2019 1:45 pmSlavedog, you do not belong on this forum as you talk too much sense.
This hasn't been updated in over a year
Where are the best deposits now?
Where are the best deposits now?
These are the ones I am sure of.
AMRET: 10% (+1%*)- KHR - 48 months - end of term *+1% promotion ends June 30th '12
KREDIT: 9.65%* - KHR - 36 months - e.o.t. * KREDIT will slash int. rates for all new accounts to 7.5% max. from July 1st
LOLC: 8.5% - USD - 36 months - e.o.t.
For monthly int. payment:
KREDIT: 8.75%* - KHR - 36 months *see above
LOLC: 8.15% - USD - 36 months
PRASAC is lower in rates and tops out at 8% for an end of term KHR or USD account running for 12 to 60 months.
AMK is offering up to 8.25% (KHR, 36 months, end of term) and 7.25% for USD and THB under same conditions. It's a full percentage point less for monthly int. payments (7.25% for KHR and 6.25% for USD and THB).
AMRET: 10% (+1%*)- KHR - 48 months - end of term *+1% promotion ends June 30th '12
KREDIT: 9.65%* - KHR - 36 months - e.o.t. * KREDIT will slash int. rates for all new accounts to 7.5% max. from July 1st
LOLC: 8.5% - USD - 36 months - e.o.t.
For monthly int. payment:
KREDIT: 8.75%* - KHR - 36 months *see above
LOLC: 8.15% - USD - 36 months
PRASAC is lower in rates and tops out at 8% for an end of term KHR or USD account running for 12 to 60 months.
AMK is offering up to 8.25% (KHR, 36 months, end of term) and 7.25% for USD and THB under same conditions. It's a full percentage point less for monthly int. payments (7.25% for KHR and 6.25% for USD and THB).
1
1
* should have read ends June 30th '20
Why did I think it was 2012
Why did I think it was 2012
Likewise, Kredit don't offer any term deposit savings accounts anymore. They no longer exists, they've been taken over by Phillip Bank and are offering much lower rates.
-
- Similar Topics
- Replies
- Views
- Last post
-
-
8.8% fixed term deposit rates now....
by wolfcreek » Thu Apr 20, 2023 10:01 pm » in Cambodia Speakeasy - 10 Replies
- 1869 Views
-
Last post by jackrossi
Sun May 07, 2023 7:22 pm
-
-
- 1 Replies
- 2311 Views
-
Last post by Khamad
Fri Jun 28, 2019 3:58 am
-
- 1 Replies
- 1257 Views
-
Last post by horace
Fri Jun 19, 2020 8:45 pm
-
-
Any prediction on when the 3k deposit requirement may be lifted?
by Jools » Fri Aug 21, 2020 10:59 am » in Questions and Answers - 24 Replies
- 5034 Views
-
Last post by Alex
Sun Aug 23, 2020 3:12 pm
-
-
-
CAB, Cambodia Asia Bank, tries to keep Covid deposit
by Guest999 » Tue Dec 01, 2020 7:46 pm » in Cambodia Speakeasy - 6 Replies
- 1792 Views
-
Last post by Spigzy
Thu Dec 03, 2020 1:50 am
-