Once again, Amret has cut its fixed deposit rates significantly. We reported on this in mid-October, but it seems that those cuts were not the last. In less than 3 months, some rates have been cut by more than 2 percentage points, the biggest being a 2.20 percentage point cut on a 2-year USD deposit! The table below shows the changes made by Amret.
| Term | Currency | Monthly Payout | Total Change | Maturity Payout | Total Change | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep 11 | Oct 2 | Oct 16 | Dec 4 | Sep 11 | Oct 2 | Oct 16 | Dec 4 | ||||
| 1 year | USD | 7.95% | 7.30% | 6.80% | 6.00% | -1.95% | 8.45% | 7.80% | 7.30% | 6.50% | -1.95% |
| KHR | 7.00% | 7.00% | 6.50% | 5.70% | -1.30% | 7.50% | 7.50% | 7.00% | 6.20% | -1.30% | |
| 2 years | USD | 8.20% | 7.50% | 6.80% | 6.00% | -2.20% | 8.70% | 8.00% | 7.30% | 6.50% | -2.20% |
| KHR | 7.00% | 7.00% | 6.50% | 5.70% | -1.30% | 7.50% | 7.50% | 7.00% | 6.20% | -1.30% | |
| 3 years | USD | 8.40% | 7.80% | 7.20% | 6.40% | -2.00% | 8.90% | 8.30% | 7.70% | 6.90% | -2.00% |
| KHR | 7.00% | 7.00% | 6.90% | 6.10% | -0.90% | 7.50% | 7.50% | 7.40% | 6.60% | -1.90% | |
| 4 years | USD | 8.40% | 7.90% | 7.40% | 6.60% | -1.80% | 8.90% | 8.40% | 7.70% | 7.10% | -1.80% |
| KHR | 7.00% | 7.90% | 7.10% | 6.30% | -0.70% | 8.90% | 8.40% | 7.60% | 6.80% | -2.10% | |
| 5 years | USD | 8.40% | 8.00% | 7.50% | 6.70% | -1.70% | 8.90% | 8.50% | 8.00% | 7.20% | -1.70% |
| KHR | 7.00% | 8.00% | 7.50% | 6.70% | -0.30% | 8.90% | 8.50% | 8.00% | 7.20% | -1.70% | |
We wonder what prompted Amret to cut deposit rates so drastically. No other Cambodian microfinance institution or bank has made such dramatic changes. The comparison chart is even more telling. Where Amret used to offer almost the best rates for fixed deposits (only LOLC had slightly higher rates), Amret now ranks 6th for a 2-year fixed deposit and well below competitor Amk (a full percentage point lower):
Amret is now even in 7th place for a 3 year fixed deposit. Please visit our interactive comparison page and see for yourself.