Apparently ACLEDA Bank felt that their fixed deposit rates were too high compared to ABA Bank, so they cut all their rates. From a modest 0.35 percentage points for a 3-month deposit in Khmer Riel to a 1.5 percentage point cut for a 2-year term. This applies to fixed deposits with monthly payouts. Deposits in US dollars were also cut, from a very small 0.10 percentage points for a 3-month term to 1.3 percentage points for a 4-year term.
ACLEDA’s term deposits with payout at maturity now also have lower interest rates. The interest rate for a 2-year term in Khmer riel was reduced by 1.15 percentage points (from 7.30% to 6.15%), and the same term in US dollars was reduced by a full percentage point (from 5.70% to 4.70%).
Earlier, the microfinance institution Amk also reduced rates on fixed deposits with maturity payout. The highest cut was for a deposit in Khmer riel with a very short maturity of 3 months: 0.60 percentage points lower, while the same deposit in US dollars is now 0.40 points lower. Curiously, AMK kept the rates on deposits with monthly payout unchanged, except for the very short term of 3 months, which were cut by 0.30 points (Khmer riel) and 0.20 points (US dollar).
See the comparison between ACLEDA, ABA and 8 other banks in our line chart (best viewd on desktop or laptop).