Fixed Terms Deposits in Cambodia - recommendations?

[Oorinara]

Yes, PPCB website details about their products and documentary requirements.

[jpinx]

Just booting this thread again as there doesn't seem to have been any reports recently.

Acleda are still offering good rates, but not sure of the fine print..

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

Edited September 25, 2015 by jpinx

[jpinx]

7.3% in PPCB now -- but not sure about the small print, taxes, requirements, etc. Anyone got an update?

http://www.ppcb.com.kh/en/feeandcharge.php

Acleda now at 7.75% on US$ accounts...

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

There was talk of better rates in Myanmar, but little first hand experience...

http://www.thaivisa.com/forum/topic/780192-term-deposit-rates-versus-security/

and same for Laos...

http://www.thaivisa.com/forum/topic/859994-fixed-deposits-in-laos/

...but with no new information..

Edited October 2, 2015 by jpinx

[Oorinara]

PPCB

- docs: passport, visa and face picture

- tax: 6% for resident (6 month visa or longer), 14% for nonresident

Japanese site details way better than English one.

http://www.ppcb.com.kh/jp/faq.php

[jpinx]

PPCB

- docs: passport, visa and face picture

- tax: 6% for resident (6 month visa or longer), 14% for nonresident

Japanese site details way better than English one.

http://www.ppcb.com.kh/jp/faq.php

Thanks

Do you know about Acleda Bank -- do they have the same requirements for opening US$ term deposit account?

[Oorinara]

Acleda documentary requirements for account opening for resident and nonresident

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

[Oorinara]

Cambodia Post Bank

Fixed Deposit Rate (in case of interest upon maturity)

THB 7% for 1yr, 8% for 2 yr

USD 6.25% for 1 yr, 7.25% for 2 yr

http://www.cambodiapostbank.com/view/Default.aspx

[jpinx]

Cambodia Post Bank

Fixed Deposit Rate (in case of interest upon maturity)

THB 7% for 1yr, 8% for 2 yr

USD 6.25% for 1 yr, 7.25% for 2 yr

http://www.cambodiapostbank.com/view/Default.aspx

That link is to their home page, but I can not find their rates pages. Any clues?

[Naam]

Cambodia Post Bank

Fixed Deposit Rate (in case of interest upon maturity)

THB 7% for 1yr, 8% for 2 yr

USD 6.25% for 1 yr, 7.25% for 2 yr

http://www.cambodiapostbank.com/view/Default.aspx

That link is to their home page, but I can not find their rates pages. Any clues?

http://www.cambodiapostbank.com/view/view.aspx?pid=22&cid=50&name=Fixed%20Deposit%20Account〈=en

good luck!

[Oorinara]

Cambodia Post Bank

Fixed Deposit Rate (in case of interest upon maturity)

THB 7% for 1yr, 8% for 2 yr

USD 6.25% for 1 yr, 7.25% for 2 yr

http://www.cambodiapostbank.com/view/Default.aspx

That link is to their home page, but I can not find their rates pages. Any clues?

Visited its headquarters in PP a few weeks ago. KHR same rate with THB.

[jpinx]

It's all very good sounding but if you actually do the detailed calculation of costs of visas, travel, tax, etc, the net rate is not so clever.

[Oorinara]

It's all very good sounding but if you actually do the detailed calculation of costs of visas, travel, tax, etc, the net rate is not so clever.

Well, indeed depending on the amount of deposit and the length of placement, of course.

[Naam]

investing a peanuts amount in Cambodia is a zero sum game, investing there "real" money is too risky.

[jpinx]

One man's peanuts is another's coconuts

[Naam]

One man's peanuts is another's coconuts

no matter what amount, the principle i stated applies.

[jpinx]

One man's peanuts is another's coconuts

no matter what amount, the principle i stated applies.

Maybe I should have added a funny smilie or a wink, but since you've missed the humour, what do you consider to be "peanuts" - as opposed to a "real"

investment?

[Naam]

One man's peanuts is another's coconuts

no matter what amount, the principle i stated applies.

Maybe I should have added a funny smilie or a wink, but since you've missed the humour, what do you consider to be "peanuts" - as opposed to a "real"

investment?

that depends entirely on the financial background. for the average Joe Retiree who lives on social insurance and barely manages to maintain THB 800k for his yearly extension $5,000 might be real money whereas Prince Al-Waleed bin Talal al-Sa'ud will most probably consider $10 million a peanuts amount.

[jpinx]

The point is to calculate the costs of visas, travel and taxes against the interest earned. Then you can see what the minimum investment would need to be.

[jpinx]

Based on PPCB's rates, it takes a minimum of about US$30,000 to achieve 5% net over the 5 years. I'm not sure of the cost of the long-term visa, so that is based on an e-visa to go and make the arrangements, and another one to go and close the account after 5 years. One advantage is that it is all in US dollars, so not subject to the vagaries of exchange rates of asian/3rd-world currencies.

Edited November 24, 2015 by jpinx

[Oorinara]

FYI, PPCB categorizes 6 month or longer visa holders as residents, who can enjoy lower withholding tax.

[LawrenceChee]

FYI, PPCB categorizes 6 month or longer visa holders as residents, who can enjoy lower withholding tax.

That is correct mates

[LawrenceChee]

Based on PPCB's rates, it takes a minimum of about US$30,000 to achieve 5% net over the 5 years. I'm not sure of the cost of the long-term visa, so that is based on an e-visa to go and make the arrangements, and another one to go and close the account after 5 years. One advantage is that it is all in US dollars, so not subject to the vagaries of exchange rates of asian/3rd-world currencies.

I was quoted about $145 for the 5 year business visa

[jpinx]

Based on PPCB's rates, it takes a minimum of about US$30,000 to achieve 5% net over the 5 years. I'm not sure of the cost of the long-term visa, so that is based on an e-visa to go and make the arrangements, and another one to go and close the account after 5 years. One advantage is that it is all in US dollars, so not subject to the vagaries of exchange rates of asian/3rd-world currencies.

I was quoted about $145 for the 5 year business visa

That makes little difference to the amount needed to achieve 5% -- $30,000 on visitors visa, or $27,750 on a business visa.

[LawrenceChee]

Morning everyone ...so here's my first report

I arrived at the bank one year later to claim my fixed deposit at Phnom Penh Commercial Bank

Arrived at 9am at the bank and the manager escorted me nicely to a sofa seat , offered hot tea and coffee and in 15 mins walked out with the cash for the fixed deposit

Received a clear report the interest paid and the Govt tax as I was using a tourist visa.

All nicely done with no fuss and asked if I will return with more deposits

Safe , great service and easy for admin work

Loved this place and banks and oh course I was also away to enjoy the sights at Angkor Wat again

[Oorinara]

Cambodia Asia Bank (CAB)

http://www.cab.com.kh/

USD fixed deposit rates of 5.8% for 1yr, 6.3% for 2 yr. Account openable with passport, visa (unsure if tourist visa) and "self declared" local address and mobile no. Internet banking exists.

[LawrenceChee]

Yeap discounting the tax I received about 5.6% for the one year there and was time well spent as a few days out in Siem reap is a nice break

I always enjoy the Temples and the interest paid nicely for the expenses there

[jpinx]

Yeap discounting the tax I received about 5.6% for the one year there and was time well spent as a few days out in Siem reap is a nice break

I always enjoy the Temples and the interest paid nicely for the expenses there

Thanks for reporting back Did you make any inquiries about running a term deposit account that would pay quarterly into a non-Cambodian bank - perhaps in Thailand or Singapore, and similarly repay the capitol at the end of the term?

[jpinx]

Cambodia Asia Bank (CAB)

http://www.cab.com.kh/

USD fixed deposit rates of 5.8% for 1yr, 6.3% for 2 yr. Account openable with passport, visa (unsure if tourist visa) and "self declared" local address and mobile no. Internet banking exists.

Their website features extensive broken links -- can't find much about deposits, and nothing about rates...

http://www.cab.com.kh/personal_deposit.html#

Perhaps you have a direct link to their rates page?

[LawrenceChee]

Yeap discounting the tax I received about 5.6% for the one year there and was time well spent as a few days out in Siem reap is a nice break

I always enjoy the Temples and the interest paid nicely for the expenses there

Thanks for reporting back Did you make any inquiries about running a term deposit account that would pay quarterly into a non-Cambodian bank - perhaps in Thailand or Singapore, and similarly repay the capitol at the end of the term?

As their business is tied in with their Japanese and Korean backers , for now the business is only in Cambodia

The manager did advise me again to do a business visa which will lead to lower taxes on interest earned but I'm happy with 5%

Bear in mind if you put in 50k that would be 2.5k which more than pays for the flights short holiday and hotels there.

[Oorinara]

Cambodia Asia Bank (CAB)

http://www.cab.com.kh/

USD fixed deposit rates of 5.8% for 1yr, 6.3% for 2 yr. Account openable with passport, visa (unsure if tourist visa) and "self declared" local address and mobile no. Internet banking exists.

Their website features extensive broken links -- can't find much about deposits, and nothing about rates...

http://www.cab.com.kh/personal_deposit.html#

Perhaps you have a direct link to their rates page?

I have no link to their deposit rates. Just enquired over the counter and obtained the leaflet as pictured.

Yes, their website seems nonstarter. Unsure if and how their internet banking works!