We’ve been away for a while, so it’s high time to update you on the interest rates you can earn on fixed term deposits in Cambodia. Since we last checked, all banks and microfinance institutions have lowered their rates, except for ACLEDA and Canadia. However, ACLEDA already made large cuts (up to 1.5 points) last month. It seems that high interest rates in Cambodia are a thing of the past (for now), although you can still get reasonable rates, especially when compared to interest rates in western countries.
Hattha Bank makes biggest cuts
The biggest cuts have been made by Hattha Bank: The 1-year deposit in US dollars with monthly payout was cut by 1.25 percentage points. For this time deposit, Hattha was in third place (shared with KB Prasac) but has now dropped to sixth place. As a result of cuts to 2 and 3 year USD deposits (1.05 and 1.00 percentage points respectively), Hattha is now also ranked 6th for these maturities.
Deposits in Khmer riel were also cut, with the largest cut for a fixed deposit with monthly payouts and a maturity of 9 months: 1.85 percentage points lower.
KB Prasac
Whether you have a fixed deposit for 1, 2 or 3 years, you will get the same interest rate at KB Prasac. This rate has been reduced by 0.75% across the board: deposits in USD or KHR with monthly or maturity payment have all been reduced by the same amount.
Woori Bank and LOLC
Korean-owned Woori Bank had the highest interest rates, but after rate cuts it now shares the top spot with microfinance institution LOLC. Both have made significant cuts: Woori Bank lowered its rates for 1 and 2 year deposits in USD by 0.75 percentage points and LOLC by 0.50 percentage points.
Tables and Charts
For more details and rates for different maturities, please see our table comparison for fixed deposits with monthly payout and maturity payout.
Our line chart comparison (best viewed on desktop or laptop) clearly shows how much interest rates in Cambodia have fallen in recent months.