safest bank here (in the event of economic collapse)??
The interest rate reflects the risk, supposedly.
Yep, but western banks collapse too, are moving into negative interest rates and only protect you up to a certain amount.Dr boom wrote: ↑Tue Oct 13, 2020 3:12 pmThe interest rate reflects the risk, supposedly.
How much protection do MFI’s provide?
Rob is right about negative interest rates, but I wouldn’t be able to sleep at night if my pot was overexposed to a Cambodian company that relied on lending $500 to rural farmers.
I’ve moved more and more into property lately - especially overseas property - to take advantage of sterling weakness for the next few years.
Rob is right about negative interest rates, but I wouldn’t be able to sleep at night if my pot was overexposed to a Cambodian company that relied on lending $500 to rural farmers.
I’ve moved more and more into property lately - especially overseas property - to take advantage of sterling weakness for the next few years.
According to my research, those days are over for new contracts, even for KHR. But I'll be happy to be proven wrong.
Expect more interest rate drops in the future.
I don't see an economic collapse in Cambodia happening anytime soon anyway.
- Barang_doa_slae
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Probably not the correct thread but would anyone have some insight on Chip Mong bank and their 5% current or saving account offer?
I think it's still about 7.75 at Prasac if you let it sit in the 3.5 account they pay into, after tax and considering no compound on first and last month.
Wouldn't swear to it but that's what I think I'm getting.
Explain that again Rob, cos that makes nonsense at all.
You get 7.75 if you let it sit in the 3.5 account they put it into?
You get 7.75 if you let it sit in the 3.5 account they put it into?
Prasac’s rates. I guess Rob has been on the creme de menthe afain.
https://www.prasac.com.kh/en/news-and-e ... t-accounts
https://www.prasac.com.kh/en/news-and-e ... t-accounts
They pay, or were paying, 7.75 or 8 on the principle account and pay it monthly into a 3.5 account.
There is tax to think about.
The compound equation was too complicated for me so I asked that Cambridge economic graduate savant chap to work it out.
I think I end up with just over 7.75.
Das ok.
Rob's correct. From your own link It's even 8%, currency of your choice among thb, usd or riel, if you let it for min 12 months. Or 7,75% with monthly interest payout. Less tax, 6% IIRCscobienz wrote: ↑Fri Oct 16, 2020 1:50 pmPrasac’s rates. I guess Rob has been on the creme de menthe afain.
https://www.prasac.com.kh/en/news-and-e ... t-accounts
Gotta say it's a good rate. I would be inclined to keep it in baht if i had cash there. I suspect it's going to perform better than the dollar or riel over the next few years.
Prasac is down to 7% for KHR & USD (min. 12 months, THB not offered) if you open one now. The link's been posted already.
AMRET just lowered interest rates by half a % for USD & KHR & between 1 & 2% for THB deposits (if I'm reading that correctly in Khmer) for contract lengths below 48 months.
10% is still offered for a 4 year KHR contract (interest at term end, of course) and they're launching a new 5 year, 10% option.
AMRET just lowered interest rates by half a % for USD & KHR & between 1 & 2% for THB deposits (if I'm reading that correctly in Khmer) for contract lengths below 48 months.
10% is still offered for a 4 year KHR contract (interest at term end, of course) and they're launching a new 5 year, 10% option.
is scobienzs financal skill the reeson he had to quit cambodia and head home?
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