Microfinance institution LOLC Cambodia has slightly reduced its interest rates on fixed deposits with terms of 1, 2 and 3 years (LOLC doesn’t offer fixed deposits with terms longer than 3 years). These cuts have been applied to both deposits with payout at maturity and deposits with a monthly payout.
For fixed deposits with monthly payout, LOLC reduced the rate for 1 year by 0.25 percentage points: from 8.50% to 8.25%. The rates for 2 and 3 years were changed from 8.63% to 8.50%.
The same changes have been made for fixed-term deposits payable at maturity. LOLC reduced the rate for a 1-year fixed deposit by 0.25 percentage points, from 8.75% to 8.50%, and the rates for 2 and 3 years were reduced from 8.88% to 8.75%.
The above changes mean that the interest rate increases of LOLC we reported on May 1st have been reversed.
Note: LOLC is one of only two financial institutions in Cambodia to offer the same rates for fixed deposits in KHR and USD.
By the way, if you’re interested in a fixed deposit in USD with monthly payout, LOLC still offers the highest rates.