Oorinara

Hattha Kaksekar, a deposit taking microfinance institution, is recently bought by Thai Krungsri (Bank of Ayudhya), a subsidiary of Japan's largest Bank of Tokyo Mitsubishi UFJ, and still provides high interest in USD and THB. THB accounts are available only in branches near Thai border though.
http://www.hkl.com.kh/


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Sathapana Bank, previously microfinance and recently licensed as bank, provides microfinance-level interest rates and commercial bank's convenience like SWIFT international transfers, inward and outward.
http://www.sathapana.com.kh/


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You can use THB in provinces adjacent to or near Thai border, where you can withdraw THB notes from THB account of Cambodian banks or microfinance deposit takers.


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Microfinance EMI curtailed deposit rates in Kip effective July 2016

- saving 5%

- term deposit 10% for 1yr, 14% for 2yr

Phongsavanh Bank slightly lowered rates recently.

http://www.phongsavanhbank.com/psv/modules.php?lg=ENG&modules=interest_rates

Acleda Lao diminished almost all of USD and THB rates

http://www.acledabank.com.la/la/eng/ps_defixeddeposit

Bank of Ayudhya (BAY) in Vientiane offers 4% for 2 yr in Baht. No income gain tax there. Lao country risk comes in though.

Central bank's list of microfinance deposit takers misses this institution. Unsure why - presumably newly licensed?

http://www.cmk.com.kh/

Yes, you can see the list of microfinance deposit taking institutions by the regulator, central bank, hereby

http://www.nbc.org.kh/english/supervision/microfinance_deposit_taking_institutions.php

Microfinance institutions do have accounts with commercial banks. When you send money from abroad, you do so first to microfinance's accounts with a commercial bank, and then ask microfinance to account it into your account with microfinance. Money is fungible, but account isn't.

Sending money to abroad is the other way around.

Microfinance institutions don't have online banking, so over-the-counter transaction is inevitable for the time being.

Krubgsri to acquire HKL, microfinance deposit taker in Cambodia

https://www.krungsri.com/bank/en/NewsandActivities/Krungsri-Banking-News/Krungsri-acquire-HKL-leading-microfinance-Cambodia.html

Isn't that microfinance a bit like the P2P finance arrangements you can do online now?

Another query - Has anyone got experience of transferring non US$ (for example €uros or AUS$) into one of these term deposit accounts at a Cambodian bank? What was the overall effect on the FX rate?

Microfinance deposit taking institutions in Cambodia are more like banks. They take deposit, loan small enterprises and sole proprietaries, offer forex, transfer money domestically and have ATMs. Differences with banks are that, eg, they cannot issue credit card and have no SWIFT code for international wire.

Krubgsri to acquire HKL, microfinance deposit taker in Cambodia

https://www.krungsri.com/bank/en/NewsandActivities/Krungsri-Banking-News/Krungsri-acquire-HKL-leading-microfinance-Cambodia.html

Newton Microfinance deposit rate (in Kip only)

http://www.newtonmfi.com/

(Website's rate not updated yet)

International Premium Certificate of Deposit

- 9% for 1 yr, 9.5% for 2 yr, 10.5% for 3yr (interest-upon-maturity basis, if monthly interest around 0.5% lower. Simple interest than compound)

Normal savings 3%

EMI interest rates (everything in Kip only)

http://www.emimfi.com/

normal saving 8% p.a.

fixed term deposit

- 10% for 6 mo.

- 12% for 1 yr

- 16% for 2 yr (simple interest, so around 13.4% p.a. in compound basis)

Fixed term's Interest payable on normal savings account. Seemingly no interest-upon-maturity product.

After I told her that I was opening an account at another bank and thus avoiding the crappy rate I was getting at K bank she offered me 10% for a 5 year fixed deposit. I was in a hurry to get to LH bank to open the new account so I was not able to get precise details. I told her I would return to find out more later.

Hmm. I suppose that must be 10% over the whole 5-year term, or 2% per year with no compounding.

In my experience Thais are very easily fooled by a big headline rate and they rarely seem to pay any attention to the small print.

I'm afraid it's 2% * 5 years = 10% sort of misconception. Banks here often sell insurance products with such miscalculation ad.

As for non fixed with limited free withdrawal per month, Kiatnakin provides 1.8% - 1.85% p.a.

http://www.kiatnakin.co.th/promotion-detail.php?id=31&mode=

GHB's Special Super Saving, 1.85% p.a., seems also worth considering. Withdrawal twice a month without fee.

http://www.ghbank.co.th/en/content.php?id=40

TMB No Fixed Account 1.9%

https://www.tmbbank.com/accounts/savings/tmb-no-fixed-account.html

SCBT eSaver 1.75%

https://www.sc.com/th/en/save/savings-esaver.html

Krungsri Mee Tae Dai 1.7%

https://www.krungsri.com/bank/en/PersonalBanking/DepositProducts/SavingsDeposit/MeeTaeDaiSavings.html

Conditions such as minimum and max deposit, withdrawal limits, etc. varies.

Off topic, but happen to remember that the Lao central bank's regulation limits exchange from Kip to foreign currency up to LAK 20 million (approximately USD 2,450) per day per pax since July 2013, if I'm not mistaken. Banks self regulate and further limit down to LAK 2 million or even less in practice.

16% annual interest can still be gotten from EMI for 24 month fixed deposits http://www.emimfi.com/emiweb/ . It's a microfinance institute, not a bank, but the service is good and you do not need a residence permit. Been around for over 10 years and was started with World Bank backing. I've had funds there for over a year and so far so good.

16% in Kip, Baht or USD, may I know? Anyway, thanks for useful info, David.

Now I find Lao MFIs accept only Kip. Exchange from Kip to foreign currencies is strictly limited to certain amount per day by regulations. So, it's good if one is prepared to spend most of deposit in local currency there or to go to the informal market.

16% annual interest can still be gotten from EMI for 24 month fixed deposits http://www.emimfi.com/emiweb/ . It's a microfinance institute, not a bank, but the service is good and you do not need a residence permit. Been around for over 10 years and was started with World Bank backing. I've had funds there for over a year and so far so good.

16% in Kip, Baht or USD, may I know? Anyway, thanks for useful info, David.

I was reading that the Bangkok Bank have recently opened a branch in Phnom Penh.

If you already have an account in Thailand you could open one in Cambodia with the same bank and transfer between the two.

Maybe lessens the risk of losing your money ??

Siam Commercial Bank has its subsidiary in Cambodia.

http://www.ccb.com.kh/

ABA, Canadia, Cambodia Asia (CAB), Cambodia Post Bank and Phnom Penh Commercial Bank (PPCB) are easy to open accounts with a passport and business visa (unsure if tourist visa). Personal appearance to the counter seems inevitable.

Better to narrow rates comparison into USD, widely circulated in Cambodia, and THB, wherein this forum is domiciled.

Btw, Acleda and Cambodia Public Bank have credit ratings from international credit rating agencies.

http://www.acledabank.com.kh/kh/eng/bp_creditrating

http://www.cpbebank.com/cpeb/index.html

Canadia's Internet banking enables opening and closing fixed deposits, domestic and international transfer (unsure about the amount limit), etc. Mobile app does similar, but to less functionality. Service applicable to USD and KHR accounts. THB accounts for viewing only.

https://www.cnbebanking.com/

ABA bank either.

https://www.ababank.com/business/internet-banking/internet-banking/

The regulator discloses financial performance such as profitability and non performing loan ratio of every and every bank and Microfinance institutions annually.

http://www.nbc.org.kh/english/publications/supervision_annual_reports.php