Best fixed deposit rates

[YaTingPom]

Oh ok. He seems to think that the rate he got would be fixed if it was a rollover, or whatever it is called.

[logos]

Interestingly the rates for $ fixed term deposits haven't come down much, if at all. Amk left theirs unchanged iirc.

[Dahon]

Offshore banking is not what it used to be with the the Common Reporting Standard (CRS) starting this year and 2018 so you cant have hidden cash stockpiles without someone (usually your home government) knowing about it!

Incidentally Cambodia is not a participant but Bermuda, Isle of man, Jersey, Switzerland and all the well know tax havens are.

Well, actually, that is the exact function of cash, that THEY don't know about Your hidden stockpile. But I get what You mean

On Prasac they say that You must have "Customer has to have legal income generating activities, no crime convictions or others crimes". I guess that the term
deposit account itself is such a money generating activity? Or is this requirement waved in reality? Or at what interest based income level does it count as
a legal income generating activity? Or is only work for salary accepted?

Can someone enlighten me what the risks are historically with these MFI financial institutions? Why is the return so high even on USD?
Back in EU I get basically nothing (yes, really, 0%) but here is KOW someone is giving me enough return to substantially boost my future pension.
And the 14% tax is lowered to 6% if I become "resident". What is "resident", a long term business visa? Or only for Khmers?

Finally someone mentioned he was tired of carrying large sums of cash into these institutions since that is what they prefer. If Yoo
enter the door with a few thousand USD, EUR or GPB, will they ask questions as to the origins of the money as in the EU?

[logos]

The resident status for the 6% tax rate depends on your visa, which must be for 6 months minimum.
As far as I know they don't care how you made your cash, I've never had any questions. I don't think wealthy locals would take too well being questioned about how they got their hands on those millions

[Dahon]

Ok, thanks for the info. Any opinions on loss rates when depositing to registered MFIs (the ones listed by the national bank)? I mean, there must be a reason
that MFIs give a substantially higher rate than commercial banks for same term and currency.

[YaTingPom]

It's all about risk and loan amounts.
The banks will loan but often it's a higher amount ($1500 average at MFIs) and lower risk.

MFIs loan to any monkey but as I understand it the default rates are remarkably low, something less than 1% iirc.

ACLEDA were an MFI but now they operate as a bank and their loan portfolio has changed to reflect that.

[Dahon]

It's all about risk and loan amounts.
The banks will loan but often it's a higher amount ($1500 average at MFIs) and lower risk.

MFIs loan to any monkey but as I understand it the default rates are remarkably low, something less than 1% iirc.

ACLEDA were an MFI but now they operate as a bank and their loan portfolio has changed to reflect that.

Yes, I understand, but what about MY risk?`I f I deposit let's say $10k at a commercial bank and the same amount at an MFI for
a fixed term of one year (when I checked, the gain on longer terms than one year were small), then is there a higher
chance that the MFI will not make good at maturity? Do the MFIs often run into liquidity problems due to higher losses
on their loans? Or can they make good because they charge higher interest to their borrowers?

I look at this from an investor's viewpoint since the returns from MFIS at 6% tax is so high it substantially adds to
a normal Western pension so were I to retire in the KOW this would be an interesting investment plan. Given of
course that You don't run into staggering losses from MFIs or banks defaulting or "delaying" returns at maturity.

[YaTingPom]

Here's my advice. Don't over think it. If you're that concerned maybe keep your cash at home under the bed.
I've never heard of an MFI defaulting on a return nor would they. It's a silly question tbh!

Unless the MFI went "bust" you've nothing to worry about. Choose one of the big ones, Prasac, Amret, AMK if you're worried.

If those go the whole economy is fooked.

6% is on the interest PA, or term but based on PA.
So $10k @ 7% is $700 less 6% = $648. Fuck all.

[104]

6% is on the interest PA, or term but based on PA.
So $10k @ 7% is $700 less 6% = $648. Fuck all.

C'mon blad do the math $658 is a better return

[YaTingPom]

6% is on the interest PA, or term but based on PA.
So $10k @ 7% is $700 less 6% = $648. Fuck all.

C'mon blad do the math $658 is a better return

Woops! Yeah that's it.

Blad? Er, oh ok...shizzle my honky....erm.

[Dahon]

Here's my advice. Don't over think it. If you're that concerned maybe keep your cash at home under the bed.
I've never heard of an MFI defaulting on a return nor would they. It's a silly question tbh!

Unless the MFI went "bust" you've nothing to worry about. Choose one of the big ones, Prasac, Amret, AMK if you're worried.

If those go the whole economy is fooked.

6% is on the interest PA, or term but based on PA.
So $10k @ 7% is $700 less 6% = $648. Fuck all.

Ok, seems to be ok then to deposit with MFIs. Just go for the big ones and spread Your deposits between two or three.

I agree I am careful, maybe a bit much, but given what I read on K440 about how business is conducted in KOW I find
this warranted. We have so many schemes and fakesters calling You up on the phone it's become an endemic in my
native country. Plus the whole EU is overrun with "beggars"/robbers/con artists/"migrant construction workers" that
nowadays I simply don't trust anyone or anything. Some years in China adds to it.

But I would sure like to enter "financier", "MFI shark" or "rentier" on my visa application.