orientalist Posted June 30, 2020 Share Posted June 30, 2020 It keeps on getting worse. As of July 1st: Thanachart e-Savings: 1.20% CIMB Preferred 11 months: 1.00% LH 6 months 1.20%, 12 months 1.25% Link to comment Share on other sites More sharing options...
moontang Posted June 30, 2020 Share Posted June 30, 2020 11 minutes ago, orientalist said: It keeps on getting worse. As of July 1st: Thanachart e-Savings: 1.20% CIMB Preferred 11 months: 1.00% LH 6 months 1.20%, 12 months 1.25% CIMB preferred 11 month is 1.2%. The 1.5% for 55+ is now capped at 1.8 million. Link to comment Share on other sites More sharing options...
orientalist Posted June 30, 2020 Share Posted June 30, 2020 (edited) I'm looking at today's promotion page: https://www.cimbthai.com/en/personal/news-and-promotions/promotions.html?c=promotion Anyway, I'm going down there today so I will ask about the senior account. Previously they always insisted on seeing my tabien baan book, which is with my landlady. Edited June 30, 2020 by orientalist Link to comment Share on other sites More sharing options...
moontang Posted June 30, 2020 Share Posted June 30, 2020 41 minutes ago, orientalist said: I'm looking at today's promotion page: https://www.cimbthai.com/en/personal/news-and-promotions/promotions.html?c=promotion Anyway, I'm going down there today so I will ask about the senior account. Previously they always insisted on seeing my tabien baan book, which is with my landlady. The end date is tomorrow..I looked at the pdf, released, today.. Link to comment Share on other sites More sharing options...
orientalist Posted June 30, 2020 Share Posted June 30, 2020 I was too late to open any account with a cashier's cheque, but after some argument they agreed I would be eligible for the senior account. We'll see tomorrow when I try again. Well spotted. 1.5% for a year is what I need. Link to comment Share on other sites More sharing options...
moontang Posted June 30, 2020 Share Posted June 30, 2020 (edited) 5 hours ago, orientalist said: I was too late to open any account with a cashier's cheque, but after some argument they agreed I would be eligible for the senior account. We'll see tomorrow when I try again. Well spotted. 1.5% for a year is what I need. Mine just finished at 1.75...but 1.5 today is a stronger deal. The only way I found to get an update on demand was buying a 10k fd in the same book...not real happy with the amount of pages the monthly payments eat, but if it isn't for the IO, it is the best deal going. I like CIMB, but as far as low level people making their own rules..they need improvement. Also, if it is exactly 800k, with required monthly payments, the redemption value is less than 800k, but I have never met an IO, who was smart enough to catch that. Edited June 30, 2020 by moontang Link to comment Share on other sites More sharing options...
orientalist Posted July 1, 2020 Share Posted July 1, 2020 CIMB July... Link to comment Share on other sites More sharing options...
moontang Posted July 1, 2020 Share Posted July 1, 2020 31 minutes ago, orientalist said: CIMB July... Did you open 55+ account? Link to comment Share on other sites More sharing options...
orientalist Posted July 1, 2020 Share Posted July 1, 2020 Gaah! I decided to put more money in, in addition to the cashier's cheque I had to start with. But they said in that case the cheque will have to go into the savings account first and will take a day to clear before I can open the new account. So I'll be back there tomorrow to open the new account... hopefully. Link to comment Share on other sites More sharing options...
moontang Posted July 1, 2020 Share Posted July 1, 2020 8 minutes ago, orientalist said: Gaah! I decided to put more money in, in addition to the cashier's cheque I had to start with. But they said in that case the cheque will have to go into the savings account first and will take a day to clear before I can open the new account. So I'll be back there tomorrow to open the new account... hopefully. I almost mentioned about the cashier's checks..not as liquid as in the West. The bag of cash works best, especially if there are multiple banks in close proximity. Link to comment Share on other sites More sharing options...
orientalist Posted July 2, 2020 Share Posted July 2, 2020 Well, my fault really for going in after 2pm. I thought about transferring all the money online but that would have been a lot of 50K transactions. Anyway, I am now the proud owner of a CIMB "Senior" account, 1.5% for 12 months, tax-free and monthly interest paid to my savings account. At the end of the 12-month period the account simply rolls over to a new deal with whatever interest rate is applicable at the time, and at that point I can add funds up to a maximum of 1.5 million. So all is good. Presumably these accounts can be opened with a yellow tabien baan, too. I still have a bit too much money in Thanachart's e-Savings account, but it is handy to have it available. One year I had unexpected expenses and got caught with all my funds tied up in fixed deposit accounts and no cash readily available in December. 1 Link to comment Share on other sites More sharing options...
moontang Posted July 2, 2020 Share Posted July 2, 2020 (edited) 3 minutes ago, orientalist said: Well, my fault really for going in after 2pm. I thought about transferring all the money online but that would have been a lot of 50K transactions. Anyway, I am now the proud owner of a CIMB "Senior" account, 1.5% for 12 months, tax-free and monthly interest paid to my savings account. At the end of the 12-month period the account simply rolls over to a new deal with whatever interest rate is applicable at the time, and at that point I can add funds up to a maximum of 1.5 million. So all is good. Presumably these accounts can be opened with a yellow tabien baan, too. I still have a bit too much money in Thanachart's e-Savings account, but it is handy to have it available. One year I had unexpected expenses and got caught with all my funds tied up in fixed deposit accounts and no cash readily available in December. It is now 1.8 million...Did you have to press the issue on foreigners getting 55+ accounts? I did the first time I did it in BKK, but they had told me I could do it in CM. Edited July 2, 2020 by moontang Link to comment Share on other sites More sharing options...
orientalist Posted July 2, 2020 Share Posted July 2, 2020 I have fought with them before on this issue. When they said "Thais only" I pointed to their website and paper leaflet. They said those were wrong. A year or two ago they agreed residents with a Thai ID were eligible but insisted on seeing my actual tabien baan, which wasn't convenient so I didn't bother. This time I went into the Preferred lounge as usual and one of the hotties there said "Thais only" (groan), but since they are mainly selling funds they aren't familiar with day to day banking stuff so I asked her to check. It turned out to be OK. They accepted my one-page tabien baan extract from the District Office even though it was 2 years old. When renewing a driving licence it can't be more than 3 months old, so I was a bit worried about that. Apart from the tabien baan, they took copies of my Pink Card and passport. And of course there are multiple forms to sign. Not very Thailand 4.0. Link to comment Share on other sites More sharing options...
moontang Posted July 2, 2020 Share Posted July 2, 2020 2 minutes ago, orientalist said: I have fought with them before on this issue. When they said "Thais only" I pointed to their website and paper leaflet. They said those were wrong. A year or two ago they agreed residents with a Thai ID were eligible but insisted on seeing my actual tabien baan, which wasn't convenient so I didn't bother. This time I went into the Preferred lounge as usual and one of the hotties there said "Thais only" (groan), but since they are mainly selling funds they aren't familiar with day to day banking stuff so I asked her to check. It turned out to be OK. They accepted my one-page tabien baan extract from the District Office even though it was 2 years old. When renewing a driving licence it can't be more than 3 months old, so I was a bit worried about that. Apart from the tabien baan, they took copies of my Pink Card and passport. And of course there are multiple forms to sign. Not very Thailand 4.0. I was happy to get preferred status, but have gotten little dividends from it. Inquired about airport lounge vouchers and got several different stories, then, the one time I needed it for a four hour EVA delay, they told me the card doesn't do squat, it is a paper voucher. I have refused to pay them 100 THB for a few things that should have been free from the start...like redoing their letter, my IO would not accept. Link to comment Share on other sites More sharing options...
orientalist Posted July 2, 2020 Share Posted July 2, 2020 Right. I made good use of the discounted movie tickets, but that's all. Link to comment Share on other sites More sharing options...
Korat88 Posted July 11, 2020 Share Posted July 11, 2020 (edited) I am looking to get some interest on the proceeds of by Provident Fund and per the website below it looks like LH is one, if not THE, best option. Looks like CIMB is hard work from the above conversation and I have found the LH staff to be polite and professional. I have a work permit and Thai tax number. So hopefully investing the funds there will be safe. https://www.bot.or.th/english/financialmarkets/financialmarketdevelopment/_layouts/application/interest_rate/in_rate.aspx Thai Union looked interesting as discussed earlier but the lack of safety is a concern. Since my wife has some money with them at the moment it is more of a concern so will have to suggest she pulls it out when the term ends as didn't realize it was not safe. Think I will stick with LH unless anything better is suggested. Thanks. Edited July 11, 2020 by Korat88 Link to comment Share on other sites More sharing options...
moontang Posted July 11, 2020 Share Posted July 11, 2020 I thought Thai State Bank of India looked interesting for trading. But, the big banks manage funds and might be a good place to buy them, if you already have a banking relationship. The differences between banker and broker are continually shrinking. MayBankKimEng is respectable. Link to comment Share on other sites More sharing options...
thaisail Posted November 26, 2020 Share Posted November 26, 2020 Would anyone like to recommend a bank in Thailand that I can use to deposit 400,000 Thai Baht for 6 months locked deposit for the purpose of renewing my marriage visa? Which bank would offer the best interest rate under these circumstances? Link to comment Share on other sites More sharing options...
Appu Posted December 6, 2020 Share Posted December 6, 2020 I highly suggest that you test BTC and USDC retirement plans. It is in my opinion way to go now. Banks cannot compete with this. And especially if you chose USDC, which is stablecoin, backed up by USD and price is always 1:1 , so 1 USDC is 1 USD. I already have half of all my funds in crypto savings at apyharvest, using their R3C plan ( apyharvest.com/save-crypto/ ). APY is 14.96% for USDC and nothing is locked, i have access to my funds whenever i want. I tested several times. Withdraw less than 12h. They have personal crypto bankers, which are at my disposal 24/7 , on Sundays too. I did not start there with big retirement plan initially. I put some smaller amount of BTC, ETH and USDC, then after few days withdraw all with earned small interest. They do not charge withdraw, so all was perfect. After more than year of usage, I can highly recommend them. They already have 1.3 billion USDC under management. This is not advert for them, otherwise i would post here my referral code. I am just highly satisfied customer and I share it here as example. Feel free to dm me if you need more info. Link to comment Share on other sites More sharing options...
orientalist Posted January 12, 2021 Share Posted January 12, 2021 A depressing start to 2021: CIMB 1.00% for 11 months (Preferred) LH 1.05% for 12 months Thanachart e-savings currently still 1.20% Link to comment Share on other sites More sharing options...
moontang Posted January 12, 2021 Share Posted January 12, 2021 1 hour ago, orientalist said: A depressing start to 2021: CIMB 1.00% for 11 months (Preferred) LH 1.05% for 12 months Thanachart e-savings currently still 1.20% I believe cimb speed savings is slightly higher, and they will have less of a stupid look on their face at the IO. Link to comment Share on other sites More sharing options...
Yellowtail Posted January 22, 2021 Share Posted January 22, 2021 Krungsri "Mee Tai Dai" Savings Account now at 1.00%, limited to two withdrawals per month. Just switched my immigration account from fixed over to this. The rate is not locked in, but at 1% there's not much to lose... 1 Link to comment Share on other sites More sharing options...
moontang Posted January 22, 2021 Share Posted January 22, 2021 9 minutes ago, Yellowtail said: Krungsri "Mee Tai Dai" Savings Account now at 1.00%, limited to two withdrawals per month. Just switched my immigration account from fixed over to this. The rate is not locked in, but at 1% there's not much to lose... That is often the best option, especially in a very low rate environment. I think they are one of the lowest risk Thai Banks, too. Consistent, although they botched my new account, when I moved here from CM, and didn't find out until extension day that the account was still based in CM.., but still got the letter. Foreigners get better service at the bigger branches, but you can find some good smaller ones. 1 Link to comment Share on other sites More sharing options...
Yellowtail Posted January 22, 2021 Share Posted January 22, 2021 27 minutes ago, moontang said: That is often the best option, especially in a very low rate environment. I think they are one of the lowest risk Thai Banks, too. Consistent, although they botched my new account, when I moved here from CM, and didn't find out until extension day that the account was still based in CM.., but still got the letter. Foreigners get better service at the bigger branches, but you can find some good smaller ones. I went in to re-up my 12 month and the gal recommended the Mee Tai Dai. Used to have to deposit at least 1,000 to update the book at Immigration, now I can transfer, deposit or event deduct anything and update the book at immigration same day so don't even need the letter. Also, they don't tax the interest for the first three months of the year... Link to comment Share on other sites More sharing options...
topt Posted January 22, 2021 Share Posted January 22, 2021 4 hours ago, Yellowtail said: so don't even need the letter. You must have a relaxed Immigration office. I thought they needed the letter whatever the book says? Link to comment Share on other sites More sharing options...
Yellowtail Posted February 16, 2021 Share Posted February 16, 2021 On 1/22/2021 at 8:05 PM, topt said: You must have a relaxed Immigration office. I thought they needed the letter whatever the book says? Chaengwattana. If you make a deposit right before you update the book, the current and historic balance is pretty clear. It works for me. That said, it is a dedicated account without a lot of additional transactions. The first time I tried it was when the bank asked me if I wanted the letter or if I just wanted to update the book. She tole me either one would work. Link to comment Share on other sites More sharing options...
moontang Posted February 17, 2021 Share Posted February 17, 2021 On 1/22/2021 at 3:30 PM, Yellowtail said: I went in to re-up my 12 month and the gal recommended the Mee Tai Dai. Used to have to deposit at least 1,000 to update the book at Immigration, now I can transfer, deposit or event deduct anything and update the book at immigration same day so don't even need the letter. Also, they don't tax the interest for the first three months of the year... There is a limit of two transfers (out) per month, free, but I think the best way for your 800k is too minimize transactions and don't attach an ATM to it. If it weren't for the three month rule, I would have moved my 800 back into MTD. Still would have been OK, but the IO would have raised an eyebrow next time. Link to comment Share on other sites More sharing options...
Yellowtail Posted February 17, 2021 Share Posted February 17, 2021 2 hours ago, moontang said: There is a limit of two transfers (out) per month, free, but I think the best way for your 800k is too minimize transactions and don't attach an ATM to it. If it weren't for the three month rule, I would have moved my 800 back into MTD. Still would have been OK, but the IO would have raised an eyebrow next time. Yeah, I do not transfer anything out, I just leave it in there. I had it in a fixed account, but the rate is better in the MTD. The only transactions I should have will be the monthly interest & tax, and them a small transfer the when I visit immigration... 1 Link to comment Share on other sites More sharing options...
moontang Posted February 17, 2021 Share Posted February 17, 2021 1 hour ago, Yellowtail said: Yeah, I do not transfer anything out, I just leave it in there. I had it in a fixed account, but the rate is better in the MTD. The only transactions I should have will be the monthly interest & tax, and them a small transfer the when I visit immigration... And let me add, I don't want them scrutinizing my spending in any way, because it is none of their business.. and there have been posts here claiming they were expected to actually spend their 65k per month, which may be BS, but most of them have little understanding of money or banking so best to stay off their radar. Link to comment Share on other sites More sharing options...
gamb00ler Posted February 17, 2021 Share Posted February 17, 2021 2 hours ago, Yellowtail said: Yeah, I do not transfer anything out, I just leave it in there. I had it in a fixed account, but the rate is better in the MTD. The only transactions I should have will be the monthly interest & tax, and them a small transfer the when I visit immigration... The day before my last extension I went to my Bangkok bank branch to get the letter and to update my Fixed Deposit bank book. I didn't need to deposit anything. The clerk updated it with a B/F transaction code and the current date. I interpreted B/F to mean Balance Forwarded. Link to comment Share on other sites More sharing options...
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