Which bank Savings Interest Rates is the highest?

[panwaikah]

The interest rate for Siam Commercial Bank is 2.80% for a fixed 12 month.

I think may be there are some bank give more interest than Siam Commercial Bank

[Sophon]

2.8% p.a. for a 12 month fixed deposit sounds unlikely, do you have a link to the details of that account on SCB's website?

 

Sophon

[faraday]

Unbelievable

[justin case]

this must be a scam STEP UP with average 1,25

 

everybody !!!!! 

 

go to TANJAI bank .... 1.90 percent, interest paid, hold on

 

IN ADVANCE ....

 

19.000 baht cash per million NET

 

you find in most big malls

 

 

[Briggsy]

According to the SCB's website, a 12-month fixed deposit will give you 1.75% or 1.65% depending on the type of the account. Banks often have special accounts that are done branch by branch so there may be a special promotional account available but it is not shown. You will have to go in and ask. The OP @panwaikah is very short on details.

 

@justin case is talking about the Thai Credit Bank. Thanjai is the name of the account. Thai Credit Bank is wholly owned by Thai Life Insurance. I am not familiar with this bank but they are advertising the 1.9% p.a. with a maximum deposit of 1,000,000 Baht.

[justin case]

11 minutes ago, Briggsy said:

According to the SCB's website, a 12-month fixed deposit will give you 1.75% or 1.65% depending on the type of the account. Banks often have special accounts that are done branch by branch so there may be a special promotional account available but it is not shown. You will have to go in and ask. The OP @panwaikah is very short on details.

 

@justin case is talking about the Thai Credit Bank. Thanjai is the name of the account. Thai Credit Bank is wholly owned by Thai Life Insurance. I am not familiar with this bank but they are advertising the 1.9% p.a. with a maximum deposit of 1,000,000 Baht.

I know it because I did this 1M or multiple (lol) last monday

 

sorry, could not read the Thai bank name

 

 

 

 

THE ONLY BANK (that I ever had) TO PAY UPFRONT ALL YOUR INTEREST

 

Edited March 29, 2019 by justin case

[topt]

15 hours ago, panwaikah said:

I think may be there are some bank give more interest than Siam Commercial Bank

Yes but no one offers an APR that high.

 

Also this would have been better posted in this very long, but current (if you go to the last pages), thread -

 

[yodsak]

[nickmondo]

26 minutes ago, yodsak said:

you know its stating that it applies for 1,000 million baht and over right?  ha ha

[Briggsy]

25 minutes ago, yodsak said:

SCB last revised their interest rates in Feb 2019 so this would be out of date. This account is listed as currently paying 1.4%.

 

There are also "Up to me, my goal, my savings" accounts from SCB that approach 2.8% but not for 12 months. 36 months is 2.75%. I don't know the ins and outs of these specially promoted accounts.

[Dogbarker]

Check out CIMB Thai.. About 2% +/-depending on account..  Limited branches but interest paid monthly.. Good service... And has visa cards!

[rwill]

Just put 900,000 baht in an SCB 12 month fixed, it was 1.65%.  Interest is only paid at the end of the term.  Plus the government takes 15% cut of the interest.

[Briggsy]

1 minute ago, rwill said:

Just put 900,000 baht in an SCB 12 month fixed, it was 1.65%.  Interest is only paid at the end of the term.  Plus the government takes 15% cut of the interest.

You can claim back the 15%. Lots of information on here.

[mike324]

41 minutes ago, nickmondo said:

you know its stating that it applies for 1,000 million baht and over right?  ha ha

 thats equivalent to USD 31.4 million if some folks can't wrap their head around that number

[Mavideol]

1 hour ago, yodsak said:

we are in 2019 the offer was for Feb 2018

[Mavideol]

45 minutes ago, Briggsy said:

You can claim back the 15%. Lots of information on here.

feel free to elaborate as I can't find anything about claim back 15% tax

[Briggsy]

1 hour ago, Mavideol said:

feel free to elaborate as I can't find anything about claim back 15% tax

I have done it myself. Here is a topic. You do it at the Revenue Department.

 

https://forum.thaivisa.com/topic/967668-withholding-tax-on-bank-account/

[CH1961]

13 hours ago, Briggsy said:

Thai Credit Bank is wholly owned by Thai Life Insurance. I am not familiar with this bank but they are advertising the 1.9% p.a. with a maximum deposit of 1,000,000 Baht.

Do they have a branch in Pattaya? 

Can't find (read) any Information about online ????

Edited March 29, 2019 by CH1961
typo

[HampiK]

12 hours ago, Mavideol said:

feel free to elaborate as I can't find anything about claim back 15% tax

There are topics here as well how to do. I am doing it right now myself. I hope that I receive the money back in the next few days. Last week I had to show the bank documents to the revenue Departement. Now have to wait till the process finished.

 

Before I claimed back the money by my swiss government, but as I now live in Thailand I have to do it from here.

[Briggsy]

11 hours ago, CH1961 said:

Do they have a branch in Pattaya? 

Can't find (read) any Information about online ????

https://www.tcrbank.com/th/สาขาธนาคาร/ค้นหา

 

Knock yourself out. 2 branches in Pattaya.

[Mavideol]

On 3/29/2019 at 11:40 AM, Briggsy said:

I have done it myself. Here is a topic. You do it at the Revenue Department.

 

https://forum.thaivisa.com/topic/967668-withholding-tax-on-bank-account/

thanks, will try

[Briggsy]

31 minutes ago, Mavideol said:

thanks, will try

The key thing is to get the letter or document from the bank that certifies the amount of tax withheld. I haven't done it for years. I can't remember the exact terminology.

[Mavideol]

5 hours ago, Briggsy said:

The key thing is to get the letter or document from the bank that certifies the amount of tax withheld. I haven't done it for years. I can't remember the exact terminology.

took a look at the all process and is not a simple task, first have to go to the tax department get registered and get a tax id # and report all your income from here (if any) and overseas and so many other docs and questions that I decided to stop the process

[KittenKong]

51 minutes ago, Mavideol said:

took a look at the all process and is not a simple task, first have to go to the tax department get registered and get a tax id # and report all your income from here (if any) and overseas and so many other docs and questions that I decided to stop the process

I found it very quick and simple. I've been getting refunds for several years now.

[Mavideol]

22 hours ago, KittenKong said:

I found it very quick and simple. I've been getting refunds for several years now.

are you retired and they didn't ask you a lot of questions, why you want tax id, what you do in Thailand, do you run business later, you retired no work no need tax id.... quite a list they give me, maybe wrong place or wrong time

Edited March 31, 2019 by Mavideol

[KittenKong]

I am retired and that wasnt a problem. They knew that I was only signing up to get my yearly refund.

[GroveHillWanderer]

Just tell them you need a tax id to claim back the tax paid on your interest. All revenue offices are familiar with this - there's a special section on the tax return form just for this purpose. The first time I tried this, there was one guy who was 'being difficult' and saying (among other things) it wasn't possible for an expat to do this. I came back the following week and talked to a different person (a very friendly, helpful lady) who processed my tax ID and filled out the tax return form for me. I've done it twice since without any problem and even more quickly and simply than the first time (no need to process a tax ID, for one thing).

Edited March 31, 2019 by GroveHillWanderer

[Henryford]

On 3/30/2019 at 7:22 PM, KittenKong said:

I found it very quick and simple. I've been getting refunds for several years now.

I did the same, quick and easy. Once you have your tax id no problem.