Chief Bank Launches Upgraded “Current Prestige” with Interest Rates up to 1.75% per annum

Chief Bank has announced the launch of its newly upgraded "Current Account Prestige" account, commonly known as "Current Prestige." This innovative product, also referred to as Current Account with Interest, is aimed at offering account holders enhanced interest rates through a tiered structure, with interest calculated on a daily basis.

The Current Account Prestige or Current Prestige is designed to meet the diverse needs of individual customers, corporate entities and financial institutions, including banks, microfinance institutions, microfinance deposit-taking institutions and insurance companies. The product features varying minimum opening balances to accommodate different customer segments.

Tailored Interest Rates Across Tiers

One of the standout features of the Current Account Prestige is its tiered interest system, offering competitive rates based on the account balance. For individual customers, the interest rates peak at 1.75% per annum. For corporate clients, the interest structure is similarly tiered. Companies can earn up to 1.75% per annum.

Financial institutions, which typically manage larger sums, have a distinct interest rate structure and earn up to 1.25% per annum.

Customer-Centric Design and No Fees

Interest payouts are scheduled on a monthly basis, providing customers with a regular return on their deposits. Chief Bank has designed the Current Account Prestige to be cost-effective by eliminating maintenance and withdrawal fees. Passbooks and chequebooks are available upon customer request at no additional cost, and there are no dormant fees or early account closure fees within the first six months.

Dr. Soeung Morarith, CEO of Chief (Cambodia) Commercial Bank Plc emphasised the strategic importance of the Current Account Prestige in the competitive banking landscape in Cambodia. "In a market where customer expectations are constantly evolving, it is crucial for us to stay ahead by offering products that are both relevant and rewarding. The Current Account Prestige is a key part of our strategy to strengthen our position in the industry and build long-term relationships with our customers."

Customers interested in these services are encouraged to visit the nearest Chief Bank branch for further assistance. The bank continues to prioritise customer satisfaction by offering services that align with their financial needs and expectations.