Interest rates for fixed deposits in KHR at ABA Bank with a term of more than 1 year have been cut: rates for a term of 5 years by 1.5 percentage point!
For payouts at maturity, ABA previously offered rates that increased from 7.50% for a 1-year term to 9.00% for a 5-year fixed deposit. Now, all rates for a term of 1 year or more are set at 7.50%. This means that interest rates for fixed deposits with terms of 2, 3, 4, and 5 years have all been reduced, with the latter seeing a significant decrease of 1.5 percentage points.
Similarly, interest rates for fixed deposits in KHR with monthly payouts have also been reduced. That means all interest rates for deposits exceeding 1 year. Previously, they increased from 6.75% (for a 1-year term) to 8.25% (for a 5-year term). Following the aforementioned reductions, all rates for deposits exceeding one year were cut to 6.75%. As with payouts at maturity, the interest rate for a 5-year deposit term with monthly payouts was decreased by no less than 1.5%.
It is interesting to note that the rates for fixed deposits in USD have remained unchanged, albeit still significantly lower than ABA’s interest rates for KHR deposits.