Woori Bank changed their interest rates slightly on July 1st, since then the rates for their so-called Fortune Deposit Account remained unchanged.
However, when checking their rates today, we noticed a new banner on the page with these interest rates and they’re claiming a top rate of 7.85% for USD accounts, and 9.00% for accounts in KHR. See for yourself:
For fixed deposits in Khmer Riel with payout at maturity, Woori indeed offers 9.00% for a term of 3 years (and slightly lower when you’d choose monthly payout). But the highest rate we could find for USD accounts is 7.75%, not the 7.85% as claimed in the banner. See below:
We know, it’s only a small difference, but still, we think a bank should not make false promises.
When it comes to rates for fixed deposits in US Dollars with monthly payout, Woori is not doing bad compared to other banks, but outperformed by all microfinance institutions. These MFI’s also have the highest rates for USD fixed deposits with payout at maturity, but Hattha Bank is almost at the same level.