As of July 3rd, 2023, ACLEDA made changes to the interest they pay on fixed deposits. But it’s not a consistent change.
Monthly payout
Let’s start with the fixed deposit in USD with a monthly payout (actually ACLEDA pays out monthly for deposits up to a term of 2 years only, above that the payout is quarterly). The interest rates for these quarterly payouts (terms of 3, 4, and 5 years) have all been lowered by .25, .50 and .45 percentage points respectively. Strangely, the rates for terms in USD of 1 and 2 years have been raised by 0.40 percentage points, while the rates for short term deposits (3, 6, and 9 months) remained unchanged.
The rates for fixed deposits in KHR with monthly payout have all been cut. But the change seems totally inconsistent, e.g. the rate for the shortest term (3 months) was slashed by 0.75 percentage points, and 9 months by 0.80 percentage points, while the rates for deposits of 3, 4, and 5 years were cut by 0.30, 0.25, and 0.20 percentage points respectively.
Here’s the comparison chart for ACLEDA deposit interest rates with monthly (or quarterly) payout:
| Term | KHR 23-05 | KHR 03-07 | KHR CHANGE | USD 23-05 | USD 03-07 | USD CHANGE |
|---|---|---|---|---|---|---|
| 3 months | 5.10 | 4.35 | -0.75 | 2.90 | 2.90 | — |
| 6 months | 6.50 | 5.80 | -0.70 | 4.30 | 4.30 | — |
| 9 months | 6.85 | 6.05 | -0.80 | 4.60 | 4.60 | — |
| 1 year | 7.50 | 6.85 | -0.65 | 5.00 | 5.40 | +0.40 |
| 2 years | 7.70 | 7.00 | -0.70 | 5.20 | 5.60 | +0.40 |
| 3 years | 8.35 | 8.05 | -0.30 | 6.50 | 6.05 | -0.45 |
| 4 years | 8.40 | 8.15 | -0.25 | 6.75 | 6.25 | -0.50 |
| 5 years | 8.45 | 8.25 | -0.20 | 7.00 | 6.75 | -0.25 |
Payout at Maturity
And what about interest rates for terms with payout at maturity (so, at the end of the deposit term)? Well, ACLEDA Bank didn’t change the rates for deposits in USD, but the rates for fixed deposits in Khmer Riel with payout at maturity were all cut.
KHR payouts at 3, 6, or 9 months were slashed by 0.50, 0.60 and 0.50 percentage points respectively. The rates for deposits with maturity payout at 1 or 2 years were cut by ‘only’ 0.25 and 0.28 percentage points. That last figure seems strange, but it was done to get a ‘lucky’ rate for 2 year deposits of 7.77%. One wonders if these decision makers at ACLEDA will ever ‘mature’…
Woori Bank raises all rates
Meanwhile, Woori Bank raised interest rates across the board (for all deposits in both KHR and USD) by 0.25 percentage points.