Phillip Bank is Cambodia’s only Singaporean‑owned commercial bank, offering a unique blend of international governance standards and deep local understanding. Backed by the PhillipCapital Group – a Singapore‑based financial powerhouse established in 1975 with over USD 4 billion in shareholders’ funds and managing USD 65 billion in assets – the bank brings a level of regulatory prudence and long‑term commitment that sets it apart .
This comprehensive review covers everything you need to know about Phillip Bank in 2026: its origins, key products, interest rates, fees, digital innovations, and why it might be the right choice for expats, investors, and local customers alike.
⚡ Quick Overview
📜 History: From Microfinance to a Full‑Service Bank
Phillip Bank’s journey in Cambodia began in 2009 when the PhillipCapital Group made its first investment in First Finance, a mortgage microfinance institution. Over the following years, the Group expanded its foothold:
- 2012 – Acquired Kredit Microfinance Institution.
- 2014 – Purchased Hwang DBS Commercial Bank and rebranded it as Phillip Bank.
- 2025 – Merged Phillip Bank with Kredit MFI, creating a stronger, more diversified institution.
Today, Phillip Capital operates a comprehensive financial ecosystem in Cambodia that includes Phillip Bank, Phillip Life Assurance, Phillip General Insurance, and Phillip Trustee Cambodia .
The bank’s shareholders’ funds now exceed USD 179 million, reflecting the Group’s long‑term confidence in Cambodia’s economic potential .
🏦 Products & Services
💳 Accounts
📱 Phillip Mobile App – Award‑Winning Digital Banking
Phillip Bank has been recognised for its digital leadership, winning the Best Digital Transformation Initiative in Banking 2025 award from International Finance . The app features:
- Quick account opening – Open an E‑Account in minutes with just a few taps .
- Savings Vault – Cambodia’s first “locked” savings feature. Funds cannot be withdrawn via digital channels unless the customer visits a branch, offering an extra layer of protection against online scams. Despite the security, the Vault earns competitive interest with monthly capitalisation and is available in both USD and KHR .
- Fully digital bancassurance – Cambodia’s first end‑to‑end insurance service. Customers can complete underwriting, payment, and policy issuance entirely through the mobile app, without any human intervention .
- QR payments – Scan KHQR codes for local payments; also supports cross‑border RoamQR for payments in Singapore.
- Fund transfers – Internal and inter‑bank transfers, plus international remittance.
- Bill payments and phone top‑up – All major utility and mobile operators supported.
The app has consistently received high user ratings, with an average of 5.0 stars on Android (based on 875+ ratings) and positive reviews for its ease of use and reliability .
💰 Loans
Phillip Bank offers a full range of lending products for individuals, SMEs, and corporations:
- Personal loans – For education, medical expenses, or other personal needs.
- SME loans – Flexible terms to support business growth.
- Mortgage loans – Property purchase or construction financing.
- Business overdrafts – Short‑term working capital.
🌐 Cross‑Border Payments
Phillip Bank is a key player in Cambodia’s push for regional payment connectivity:
- RoamQR – In partnership with Liquid Group, Phillip Bank enables Cambodian travellers to scan Singapore’s SGQR codes and make real‑time payments using their Phillip Mobile app, eliminating the need for cash or currency exchange .
- Cross‑border QR – The bank is actively involved in the second phase of Cambodia‑Singapore QR code interoperability, deepening financial links between the two countries.
💼 Corporate & SME Banking
Phillip Business Internet Banking, redesigned in 2025, offers a unified platform for:
- Account management and approvals
- Bulk transactions
- Trade finance and supply chain solutions
🏛️ Pioneer in Digital Bancassurance
Phillip Bank became the first in Cambodia to launch a fully digital bancassurance platform. Customers can now sign up for life or general insurance products directly through the Phillip Mobile app, with policies issued instantly – no paperwork, no branch visits. This innovation earned the bank widespread recognition for its customer‑centric approach .
📊 Interest Rates (2026)
Future Account (Monthly Fixed Deposit Savings)
| Term (Months) | USD (Annual) | KHR (Annual) |
|---|---|---|
| 3 – 9 | 3.50% – 3.75% | 3.50% – 3.75% |
| 10 – 12 | 4.50% – 4.75% | 4.50% – 4.75% |
| 13 – 18 | 4.50% – 4.75% | 4.50% – 4.75% |
| 19 – 24 | 5.25% – 5.50% | 5.25% – 5.50% |
| 25 – 36 | 6.25% – 6.50% | 6.25% – 6.50% |
| 37 – 120 | 7.25% – 7.50% | 7.25% – 7.50% |
Source: Phillip Bank official website
💡 Rates vary based on deposit amount (below or above USD 100 / KHR 400,000). Higher tiers earn higher rates.
Term Deposit (Fixed Term)
| Term (Months) | USD (Maturity Interest) | KHR (Maturity Interest) | USD (Monthly Interest) | KHR (Monthly Interest) |
|---|---|---|---|---|
| 3 | 2.75% | 3.25% | 2.75% | 3.25% |
| 6 | 3.25% | 3.75% | 3.00% | 3.50% |
| 9 | 3.75% | 4.25% | 3.50% | 4.00% |
| 12 | 4.25% | 5.25% | 4.00% | 5.00% |
| 24 | 4.25% | 5.25% | 4.00% | 5.00% |
| 36 | 4.25% | 5.25% | 4.00% | 5.00% |
Rates effective from 15 December 2025. Minimum deposit: USD 100 / KHR 400,000 .
💡 Withholding tax: 6% for residents, 14% for non‑residents (foreigners) .
💵 Fees & Charges (2026)
Always check with the bank for the most current fee schedule, as rates may change.
🆚 Phillip Bank vs. Other Cambodian Banks
| Feature | Phillip Bank | ABA | ACLEDA |
|---|---|---|---|
| Parent | PhillipCapital (Singapore) | National Bank of Canada | Local (CSX‑listed) |
| Branches | 71 nationwide | 106 | 263+ |
| Unique feature | Savings Vault (locked savings) | Best‑in‑class mobile app | Largest branch network |
| Digital bancassurance | ✅ First in Cambodia | ❌ | ❌ |
| Cross‑border QR (Singapore) | ✅ (RoamQR) | ❌ | ✅ |
| Savings Vault | ✅ (USD/KHR) | ❌ | ❌ |
| Future Account rates (10–12 months) | Up to 4.75% (USD) | ~4.50% (Fixed deposit) | ~3.00% (Fixed deposit) |
📰 Recent News & Developments (2025–2026)
🏆 Best Digital Transformation Initiative (2025)
Phillip Bank was awarded the Best Digital Transformation Initiative in Banking 2025 by International Finance, recognising its customer‑centric digital solutions, including the revamped mobile app, digital bancassurance, and KHQR‑powered ATM network .
💰 Reaffirmation of Stability (March 2026)
In response to false Telegram rumours suggesting regulatory action, Phillip Bank publicly reaffirmed that it remains fully operational, financially sound, and in full compliance with all National Bank of Cambodia requirements. The bank is taking legal steps to address the spread of misinformation .
🌏 RoamQR Launch: Seamless Payments to Singapore
Phillip Bank partnered with Liquid Group to launch RoamQR, enabling Cambodian travellers to make real‑time payments at merchants across Singapore using the Phillip Mobile app. This is a major step toward ASEAN regional payment interoperability .
🔐 Savings Vault Launch (2025)
Phillip Bank introduced Cambodia’s first ‘Savings Vault’ feature – a locked savings account that cannot be accessed digitally unless the customer visits a branch. It offers competitive interest with monthly capitalisation, no fixed term, and availability in both USD and KHR .
🏛️ First Concept Branch (April 2025)
Phillip Bank unveiled its Norodom concept branch in Phnom Penh’s BKK district, blending banking with art. The branch features a rotating showcase of fine Cambodian artwork, exclusive meeting rooms with video conferencing, and a curated customer experience designed to reflect Singaporean service standards .
🤝 FCI Membership (March 2026)
Phillip Bank became an Affiliate Member of FCI, the global representative body for factoring and receivables finance, strengthening its trade finance capabilities .
📚 Community Support
As part of PhillipCapital’s 50th anniversary, the Group carried out a school refurbishment and financial literacy programme at Prey Pchek Primary School in Kampong Speu, demonstrating ongoing commitment to local communities .
🔧 Related Tools & Resources
- Directory of Financial Institutions in Cambodia – Complete list of NBC‑licensed banks.
- Best Bank in Cambodia 2026 – Compare Phillip Bank with ABA, ACLEDA, Canadia, Wing, and FTB.
- Invest & Travel Smart Toolkit – Financial calculators, savings interest calculators, and more.
❓ Frequently Asked Questions
Is Phillip Bank safe?
Yes. Phillip Bank is a fully licensed commercial bank supervised by the National Bank of Cambodia. It is backed by the PhillipCapital Group, which has over 50 years of history, shareholders’ funds of USD 4 billion, and assets under management of USD 65 billion . The bank is also a member of the PhillipCapital Group, whose presence spans 15 countries.
Can a foreigner open a Phillip Bank account?
Yes. Foreigners can open a Phillip E‑Account via the mobile app using their passport. To increase transaction limits or access higher‑tier products, a branch visit with identification documents is required .
What is the minimum deposit for a Phillip Bank account?
- E‑Account: $0
- Savings Account: USD 5 or KHR 20,000
- Term Deposit: USD 100 or KHR 400,000
How do I open an account online?
Download the Phillip Mobile app from Google Play or the Apple App Store, complete the registration form, and upload a photo of your ID and a selfie for verification. The E‑Account is opened instantly .
What is Savings Vault?
Savings Vault is a unique locked savings account that cannot be accessed via digital channels. Funds placed in the Vault earn competitive interest but require a branch visit to withdraw, providing protection against online scams .
Does Phillip Bank support international transfers?
Yes. The bank supports SWIFT transfers (SWIFT code: HDSBKHPPXXX) and is also integrated with cross‑border QR payment systems like RoamQR for real‑time payments in Singapore .
What are the daily transaction limits?
For a standard Phillip E‑Account, the daily limit is USD 3,000. This can be increased by upgrading to a full savings account at any branch .
📢 Disclaimer
Bank policies, fees, interest rates, and product offerings may change without notice. This review is based on information available in April 2026. Always verify with Phillip Bank’s official website or a branch before making financial decisions. This article does not constitute financial advice.
🎯 Final Thoughts
Phillip Bank occupies a unique position in Cambodia’s banking landscape. As the country’s only Singaporean‑owned bank, it brings a standard of governance, prudence, and long‑term vision that resonates with investors and customers seeking stability. Its digital innovations – from the award‑winning Phillip Mobile app to the pioneering Savings Vault and fully digital bancassurance – demonstrate a commitment to customer‑centric technology.
For expats and locals alike, Phillip Bank offers competitive interest rates (especially on longer‑term Future Accounts), robust digital tools, and the peace of mind that comes with being part of a global financial group. While its branch network is smaller than ACLEDA’s, its 71 branches cover all major cities, and its focus on Singapore‑Cambodia connectivity makes it a standout choice for travellers and cross‑border businesses.
Whether you are looking for a high‑interest savings solution, a secure digital banking experience, or a bank with international standards, Phillip Bank deserves a place on your shortlist.