True Corp. 4% fixed, May 21 to 23

[Kwarium]

True is offering fixed return debentures over this 3 day period. Terms are posted on Kasikorn website under promotions. Fixed 4% is three year term and 5 year term gets 5%. Interest paid quarterly. Does anyone know anything about fee structures? 

 

Today is is the last day! Are there better places to park a few 100 thou here in TH? It’s not visa money.

 

All comments entertained, or more likely entertaining!

Thanks.

[Rally123]

Park it in a Credit Union in a Thai name and you get 6% fixed term. Park it in a farang name and get 4% and it's touchable. Immigration do not accept Credit Unions as banks. In your case, not a problem. Please take no notice of the doom and gloom merchants on this forum who will try to tell you bad about Credit Unions. Those days are long gone.

Edited May 22, 2019 by Rally123

[Pravda]

There are credit unions in Thailand?

[Rally123]

1 hour ago, Pravda said:

There are credit unions in Thailand?

In 2003 there were 839. 

Quote

In the aftermath of the financial crisis of 2007–2008, there was a dramatic increase in the number of bank failures but not in the number of credit union failures, and in 2017, all depositors at failed credit unions were fully covered by deposit insurance, but depositors at a failed traditional bank were not covered by deposit insurance.

 

Edited May 23, 2019 by Rally123

[topt]

9 hours ago, Kwarium said:

All comments entertained, or more likely entertaining!

I think the same as being talked about here -

 

[Kwarium]

I found out the True investment was sold out on the first day! This was their second offering this year.

 

Curious that they need tens of billions of Baht from investors. 

 

Would love a link or more info on credit unions in Thailand. What do Thais call them? 

Edited May 23, 2019 by Kwarium
Tyop!

[Kwarium]

14 hours ago, topt said:

I think the same as being talked about here -

 

Thanks, missed that. 

 

Maybe be someone knows of another way to lock in 4% for a few years?

[Snow Leopard]

35 minutes ago, Kwarium said:

I found out the True investment was sold out on the first day! This was their second offering this year.

 

Curious that they need tens of billions of Baht from investors. 

 

Would love a link or more info on credit unions in Thailand. What do Thais call them? 

Taking a stab at possibly the investment required or needed for 5G infrastructure???

[Kwarium]

19 minutes ago, Snow Leopard said:

Taking a stab at possibly the investment required or needed for 5G infrastructure???

One would hope the need for cash is something as noble and forward thinking as that.

 

Looking for more info in English about credit unions, this from Nation:

http://www.nationmultimedia.com/detail/national/30353185

 

“The minister said the phenomenon of people depositing money in the savings and credit union cooperatives was due partially to the fact that commercial banks and other financial institutes had lowered their savings account interest rates, while cooperatives kept theirs at 3 to 4 per cent. 

 

A July 31 audit found flaws at 51 savings and credit union cooperatives covering damages worth Bt9.6 billion. They included 13 graft cases worth Bt373 million, six cases of accounting flaws worth Bt34.39 million, 11 cases of financial administration flaws worth Bt144 million, 12 cases of spending on purposes other than what they had stated resulting in Bt667.7 million damages and 17 cases of “behaviour that can cause damages” worth Bt8.4 billion, according to the minister.

 

A source at the Cooperative Promotion Department said three savings cooperatives – one for teachers, another for railway personnel and the third for policemen – were facing illiquidity due to alleged graft. The committee was working to investigate and solve the problems as bankruptcy could affect many members, the source added..”

[bbi1]

On 5/23/2019 at 6:09 AM, Rally123 said:

Park it in a Credit Union in a Thai name and you get 6% fixed term. Park it in a farang name and get 4% and it's touchable. Immigration do not accept Credit Unions as banks. In your case, not a problem. Please take no notice of the doom and gloom merchants on this forum who will try to tell you bad about Credit Unions. Those days are long gone.

I've never seen any credit unions in BKK or other provinces. What are the names of the larger credit unions and which ones pay 6%p.a. to Thai people?

[Rally123]

1 hour ago, bbi1 said:

I've never seen any credit unions in BKK or other provinces. What are the names of the larger credit unions and which ones pay 6%p.a. to Thai people?

I can only quote from the 'Credit Union' of which we use. But it has been discussed on this forum before. Try this link for Bangkok.      https://www.google.com/search?rlz=1C1CHBF_enTH838TH838&q=credit+unions+in+bangkok&npsic=0&rflfq=1&rlha=0&rllag=13766348,100659662,1541&tbm=lcl&ved=2ahUKEwi15oXijbniAhUXi3AKHQMaAy4QtgN6BAgJEAQ&tbs=lrf:!2m1!1e2!2m1!1e3!3sIAE,lf:1,lf_ui:2&rldoc=1#rlfi=hd:;si:;mv:!1m2!1d13.566289848172781!2d102.43377660685633!2m2!1d11.926868448479754!2d99.63226293498133!4m2!1d12.74790570710876!2d101.03301977091883!5i9

 

 

Quote

 

puchooay

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Posted August 11, 2016

It is indeed a co operative set up and run by teachers. Many teachers use it to borrow and invest.

 

When a teacher borrows the payments are taken at source from their monthly salary.

 

Anyone can invest if they are introduced by a teacher. The money must be invested in a Thai name.

 

The percentage rate mentioned is accurate.

 

 

Edited May 26, 2019 by Rally123

[Kwarium]

On 5/26/2019 at 6:17 PM, Rally123 said:

I can only quote from the 'Credit Union' of which we use. But it has been discussed on this forum before. Try this link for Bangkok.      https://www.google.com/search?rlz=1C1CHBF_enTH838TH838&q=credit+unions+in+bangkok&npsic=0&rflfq=1&rlha=0&rllag=13766348,100659662,1541&tbm=lcl&ved=2ahUKEwi15oXijbniAhUXi3AKHQMaAy4QtgN6BAgJEAQ&tbs=lrf:!2m1!1e2!2m1!1e3!3sIAE,lf:1,lf_ui:2&rldoc=1#rlfi=hd:;si:;mv:!1m2!1d13.566289848172781!2d102.43377660685633!2m2!1d11.926868448479754!2d99.63226293498133!4m2!1d12.74790570710876!2d101.03301977091883!5i9

 

 

 

Thanks for the effort. Can you please share a name or a link to the credit union you mentioned? I wonder if the teacher’s credit union is the one mentioned in the post #9 facing illiquidity due to graft?

[Rally123]

1 hour ago, Kwarium said:

I wonder if the teacher’s credit union is the one mentioned in the post #9 facing illiquidity due to graft?

It would be interesting to find out.   http://w2.br-tsc.com/index.php

Edited May 28, 2019 by Rally123

[Kwarium]

12 hours ago, Rally123 said:

It would be interesting to find out.   http://w2.br-tsc.com/index.php

Your link got my gears turning and led me to this one in Udon. 

http://www.udtscc.com/index.php/home

 

the publication which cannot be mentioned has an article titled ‘It’s a tough lesson’ , about many who took advantage of the easy loans and got over their head. Would that make it a risky place to park savings?

[Rally123]

1 hour ago, Kwarium said:

Your link got my gears turning and led me to this one in Udon. 

http://www.udtscc.com/index.php/home

 

the publication which cannot be mentioned has an article titled ‘It’s a tough lesson’ , about many who took advantage of the easy loans and got over their head. Would that make it a risky place to park savings?

You pay yer money, you take yer chance. It works for me.

[eisfeld]

As a general rule: interest more or less reflects risk. Interest rates of <= 2% are so low, that they are not really suitable as an "investment" vehicle. Inflation will probably eat all of that a there's not enough left for it to really grow.

 

I've seen this year several 5-9% special occasion bond deals.

 

Are the Thai credit unions really insured by BoT as mentioned above? Loans in Thailand are a very risky thing unless we're talking about Government or Big-Corp bonds. Imho, anyways.

[Kwarium]

7 hours ago, eisfeld said:

As a general rule: interest more or less reflects risk. Interest rates of <= 2% are so low, that they are not really suitable as an "investment" vehicle. Inflation will probably eat all of that a there's not enough left for it to really grow.

 

I've seen this year several 5-9% special occasion bond deals.

 

Are the Thai credit unions really insured by BoT as mentioned above? Loans in Thailand are a very risky thing unless we're talking about Government or Big-Corp bonds. Imho, anyways.

Agree that 6% in a <2% climate is certainly higher risk. I also would jump into the govt. and big Corp. offerings, if they let common folk in.

”sorry, sold out” on the first day.

 

Credit unions rife with bad loans or unsecured loans to low paid teachers scare me. Not less risk than the markets in my mind. Don’t know if they are actually insured. More research needed.

[Kwarium]

I heard today that BTS sky train and BER highways are both having investment offerings in June. Not sure if they are technically bonds, but do have guaranteed returns and fixed duration.

 

Both the Buri Ram and Udon Teacher Savings Coops are offering 4% now, before 15% mandatory tax withholding. No sign of the 6% mentioned earlier in the thread.

 

At least these options should keep up with inflation, so money in the bank doesn’t lose purchasing power over time.

 

Any other suggestions for keeping cash with some return?