Interesting comparison with rates of 1 year ago
Well, it’s been a while since we last updated you on fixed deposit rates in Cambodia. As you probably know, interest rates have been falling worldwide and Cambodia is no exception. In our latest interest rate comparison, all banks and microfinance institutions have lowered their rates compared to August last year (yes, we know it’s been too long). For a detailed comparison, see our data tables for Fixed Deposits with Monthly Payout and Fixed Deposits with Payout at Maturity.
These much lower rates have given us an idea: let’s compare the current rates (February 2025) for 1, 2 and 3 year maturities with monthly payouts in USD with the rates one year ago (February 2024). And that makes for an interesting table:
| Bank / MFI | 1 year | 2 years | 3 years |
|---|---|---|---|
|
ABA
|
-1.50% | -1.50% | -1.50% |
|
ACLEDA
|
-1.55% | -1.85% | -1.80% |
|
Amk
|
-1.30% | -1.25% | -2.00% |
|
Amret
|
-1.00% | -0.25% | +0.25% |
|
Canadia
|
-1.25% | -1.35% | -1.45% |
|
Hattha
|
-3.30% | -3.10% | -3.15% |
|
LOLC
|
-2.00% | -2.00% | -2.00% |
|
KB Prasac
|
-2.50% | -2.50% | -2.50% |
|
Wing
|
-3.25% | -3.25% | -3.75% |
|
Woori
|
-2.75% | -2.50% | -2.65% |
As you can see, the rate cuts vary widely. The biggest cuts were made by Wing Bank and Hattha Bank, followed by Woori Bank and KB Prasac. But hey, look at the numbers for Amret. This microfinance institution made the smallest cuts and even raised the rate for a 3-year fixed deposit. To understand this, read Something Brewing At Amret? where we describe how Amret made significant and dramatic cuts already in the last months of 2023, long before the other banks followed.
In our line graph comparison, you can see that Amret was in 6th or 7th place at the beginning of 2024 when it comes to interest rates, but is now on par with other institutions and even number 1 for a 3-year fixed deposit. To be honest, we wonder if Amret has published the correct rate on its website, as for this term in USD it offers almost a full percentage point more than its nearest competitors (Amk and LOLC).
In stark contrast to Amret, Wing Bank substantially increased its fixed deposit rates in December of 2023. However, these rates were swiftly reduced on two occasions, in June (It Was Nice While It Lasted) and August (Wing Slashes Rates Again) of last year.
Currently, the best rates offered for a 1-year deposit in USD with monthly payout are Amk and LOLC (5.50%), for 2 years Amk, Amret and LOLC (5.75%) and for 3 years Amret (6.65%). Don’t want to deposit with a microfinance institution? Then former MFI, now a bank, KB Prasac offers the highest rate for a 1 year term (5.25%), Woori Bank for 2 and 3 year terms (respectively 5.50% and 5.60%).
