Table of bank and MFI deposit rates?
I went to Kredit's headquarters and was declined in late 2015.
Among MFIs, Kredit currently offers the highest interest in USD of 8.25% for 18 month and 8.5% for 24 month.
The second or third highest in USD is HKL, wholly owned by Bank of Ayudhaya from Thailand.
Sent from my iPhone using Tapatalk
Among MFIs, Kredit currently offers the highest interest in USD of 8.25% for 18 month and 8.5% for 24 month.
The second or third highest in USD is HKL, wholly owned by Bank of Ayudhaya from Thailand.
Sent from my iPhone using Tapatalk
A friend of mine just recently succeeded to open an USD account with Kredit with his passport and visa. He lives in Thailand, so the account is marked as nonresident for tax purpose.
Sent from my iPhone using Tapatalk
Sent from my iPhone using Tapatalk
-
- 440 newbie - handle with care
- Reactions: 0
- Posts: 1
- Joined: Mon Jan 30, 2017 2:11 pm
Hi all, I have been reading all these posts. Thanks a lot. I am trying to get a clear vision on the practical risks of investing 100k and above with an IMF on a long term basis. I see the Moody's ratings and many of your comments. How many of you are on a long term basis with large amounts and how do you feel about the risk? Thanks again
-
- My Only Friend is my Computer
- Reactions: 0
- Posts: 728
- Joined: Mon Apr 07, 2014 2:32 pm
- Location: Phnom Penh
Many of the MFIs have been operating for a decade or more. Some are now "proper" banks. None appear to have failed yet and those I've been using have paid interest every month without issues. I'm a newbie, my accounts are less than 2 years old.Braddockrd wrote:Hi all, I have been reading all these posts. Thanks a lot. I am trying to get a clear vision on the practical risks of investing 100k and above with an IMF on a long term basis. I see the Moody's ratings and many of your comments. How many of you are on a long term basis with large amounts and how do you feel about the risk? Thanks again
Where else are you going to earn nearly 10%pa? Are the risks any greater than for a first world bank paying <1%pa? I think they're just different risks.
Don't put all your money in MFIs, don't put it all in a single MFI, enjoy the interest.
There are only 10 kinds of people in the world; those who understand binary and ...
Supervision Annual Report by NBC, the banking and microfinance regulator as well as the central bank, discloses nonperforming loan ratio and other performances of each bank and microfinance, and may be of help in comparing MFIs.
https://www.nbc.org.kh/english/publicat ... eports.php
Sent from my iPhone using Tapatalk
https://www.nbc.org.kh/english/publicat ... eports.php
Sent from my iPhone using Tapatalk
Hello, remember me? I've been back a week from three weeks in Cambodia. (I forgot that all my passwords are sequestered in my home computer.)
The upshot of the story:
- Two accounts at AMK. Riel - 10.5%, US$ - 7.25% (minus 14% withholding tax)
- Three accounts at CMK. US$ - 7%,6% and 4%. (net).
Went to sub-branch of Prosac and got a more straightforward "explanation" -
"Yes, the withholding tax for non-residents is 14% ."
"No, a non-resident cannot have an account."
The upshot of the story:
- Two accounts at AMK. Riel - 10.5%, US$ - 7.25% (minus 14% withholding tax)
- Three accounts at CMK. US$ - 7%,6% and 4%. (net).
Went to sub-branch of Prosac and got a more straightforward "explanation" -
"Yes, the withholding tax for non-residents is 14% ."
"No, a non-resident cannot have an account."
What's the term at amk, 18 months? Monthly or yearly interest?
AMK rate table here supposedly
http://www.amkcambodia.com/amk-en-fixed ... t-196.html
Sent from my iPhone using Tapatalk
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).
Sent from my iPhone using Tapatalk
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
-
- 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
- 1868 Views
-
Last post by jackrossi
Sun May 07, 2023 7:22 pm
-
-
- 1 Replies
- 2309 Views
-
Last post by Khamad
Fri Jun 28, 2019 3:58 am
-
- 1 Replies
- 1255 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
- 5015 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
- 1791 Views
-
Last post by Spigzy
Thu Dec 03, 2020 1:50 am
-