USD interest rates continue to fall
A few institutions, including Canadia, Hattha, LOLC, and Wing, kept their interest rates unchanged. However, the two banks with the lowest rates, ABA and ACLEDA, lowered them further, with ABA lowering them by a full percentage point in most cases. Interestingly, KB Prasac kept its interest rates for USD deposits unchanged but slightly raised its rates for deposits in Khmer riel. ACLEDA also raised some of its KHR interest rates but lowered the interest rate on USD deposits.
As predicted last time, Amret significantly cut its rates, which were far above those of its direct competitors. Amret now offers the same interest rates for deposits in either KHR or USD, with notable fluctuations in the rate cuts. The interest rate for a 1-year term deposit has been reduced by 0.5 percentage points, while for a 3-year deposit, the rate has been cut by 1.15 percentage points.
LOLC now offers the best rates for term USD deposits with monthly (or quarterly) payouts for terms of up to three years. As LOLC does not offer longer maturities, the most competitive rates for four and five-year periods are currently available through Amret. When it comes to KHR deposits with monthly payouts, it’s a mixed bag. The best rate for a 1-year deposit: KB Prasac; for 2 years: Amk; 3 years: Woori; 4 years: KB Prasac and Amret; 5 years: Amret. Our table comparison for term deposits with monthly payout allows for easy comparison of all rates.
For USD term deposits with payout at maturity, LOLC offers the best rates for up to two years. For a three-year deposit, LOLC is on par with Amk and Amret, both offering 6.00%. For four- and five-year deposits, Amret offers the best rates. For 1-year maturities in Khmer riel, the best rate is offered by KB Prasac, and for 2- and 3-year maturities by Amk, which doesn’t offer any longer maturities. Amret offers the best rates for four- and five-year maturities; however, you should bear in mind that these rates are the same as Amk’s for two- and three-year maturities. Take a look at our table comparison for fixed deposits with payout at maturity.
To see how rates have been cut by all financial institutions, see our line graph comparison.
