Four weeks after LOLC made some modest cuts (0.15 percentage points) to its fixed deposit rates, the microfinance institution has now followed up with cuts of 0.35 percentage points. This means that within one month, LOLC has reduced all its interest rates by half a percentage point. Compared to last August, LOLC has cut its rates by an average of 0.75 percentage points.
LOLC used to offer the highest rates on most terms for fixed deposits, whether monthly or at maturity. That’s no longer the case. For short-term deposits (3, 6 and 9 months), LOLC is now on a par with Woori Bank, while for longer terms (1, 2 and 3 years), KB Prasac Bank offers rates that are about the same as LOLC. This goes for deposits in US Dollars.
For fixed deposits in Khmer Riel, Woori Bank offers the highest interest rates, whether monthly payouts or at maturity.