Then how much Lump sum is enough to retire and what age?

[tonray]

43 minutes ago, rickudon said:

here it is the high rise balcony.

????

[Peter Denis]

Before making the Big Jump I would advise him to take a 6 month break from his job.

Rent out his house for 6-months to someone reliable (the rental money not being the main thing, but the fact that the house will be taken care of during that period).

And travel Thailand and surrounding countries on an METV.

After that period he will know whether the South-East Asia lifestyle is something for him.

When back home he could then either start with the Big Jump preparations, or take occasional longer-time holidays to Thailand until he is financially secure to do so (he will also by then have a far better idea of what finances are required for the lifestyle he envisions).

[Tagged]

59 minutes ago, OneMoreFarang said:

If you change the girls often enough then it's ok to drink the same brand of beer for a long time.

 

 

Explanation accepted, but still it is like playing golf, putting that ball in to that hole. You can convince yourself it is new field in a different place, but really its not after been playing for years. It is a got dam hole you put your ball in to!

[seancbk]

Depends how he wants to live. 

I enjoy a pretty good life in Bangkok, nice studio apartment with pool and gym, 2 minute walk to the BTS.   I have an active social life (or at least did pre-virus!).  After 10 years here and lots of financial tracking I can manage on 50K THB a month, and 60 or 70K makes life even better.   I recently quit drinking so now I need much less. 

But lets say he spends 70K a month.   He should put 1 million into an account just for his annual retirement extension fund, that leaves him 9 million, which at 70K a month will last for 10 years (a bit more but lets not quibble over a few hundred thousand baht). 

I'm going to go out on a limb and guess this guy isn't a techie so has no clue how to make money online.  Not going to suggest he tries to learn, but if it was me I'd invest some of that money into finding a way to grow my funds. 
 

 

[Tagged]

11 minutes ago, seancbk said:

Depends how he wants to live. 



But lets say he spends 70K a month.   He should put 1 million into an account just for his annual retirement extension fund, that leaves him 9 million, which at 70K a month will last for 10 years (a bit more but lets not quibble over a few hundred thousand baht). 

 

 

Depends where he live, and how many times he moves. Every time you go to a new place, new people, new girls, you spend more money than if you are settled and know the place well enough to live cheap. 

 

Here in Isan I can live for 30 000,- a month (no travel or shopping expensive brand clothes, insurance included for me or my gf, car, And 2 big bikes. That is additional about 130 000,- a year ) 30 000,-  is the basic living costs including paying all cost for me and my gf + my gf parents 10 000,- a month, to work for us on our small farm. 

[Isaan sailor]

When to retire?  In most cases, that’s not even your decision.  Your body will tell you. And unless you own your own business—your employer will let you know when it’s time...

Most farangs can get by on 40-50k Baht per month.  But to live large—figure 70k to 90k per month.

[1FinickyOne]

2 hours ago, tonray said:

You would not actually pay the bank....the negative rate is only for reserves held by banks....it is an inducement to make loans to stimulate the economy. The banks would pay to hold excess reserves in the system, you would get near zero interest rates but would not pay the bank to keep money there directly...except indirectly you would be losing to inflation...pretty much the same as it has been for years now with bank rates in the US.

Thanks... I was envisioning having to get a safety deposit box large enough to hold my mattress... 

[Phulublub]

I was wondering about the number who can live well on 50K or so a month....then I looked at my expenditure and where my money goes.

 

Does he play golf?  Will he wish to play in Thailand?  It is EXPENSIVE!!  Fine for a holiday, but three times a week, forty plus weeks a year and you are looking at the thick end of THB200,000.  On the cheaper courses.  Without a buggie.

 

PH

[pineapple01]

1 hour ago, Peter Denis said:

Long-stay options for living in Thailand without tying up any money on a thai bank-account.

1 - When married to a thai national or with a dependant thai child >> Apply for the 1-year Multiple Entry Non Imm O - marriage Visa at the thai consulate of Savannakhet, Laos or HoChiMinCity, Vietnam.  NO financials required on application.

2 - When over 50 years of age and with a pension-statement >> Apply for the 1-year Multiple Entry Non Imm O - retirement Visa at the thai consulate of Savannakhet, Laos or Penang, Malaysia.  When the pension-statement is below 65K/month, proof of financials on a thai or foreign bank-account to cover the annual difference accepted.

Both Visa provide 90-day permissions to stay on entry, after which you need to leave the country or apply for an extension of stay (one per entry).  When timed right those Visa can provide you with 17 or 16 month IO-hassle free stay in Thailand with NO need for money tied up in a thai bank-account, NO need for 90-day reports, NO need for re-entry permits and NO need  to deal with local IOs to meet the requirements for a 1-year extension.

Were not all skint.The Op wants to know how much, not how little.

[Neeranam]

I'm currently thinking of retiring in a few years, aged 60.

 

My target is 30 million baht for the kind of retirement I want. if I reach that before, great. However, 10 million would be enough to live a comfortable life. I will get a small pension when I am 67.

 

But I don't want to retire in Thailand, I want to travel the world, spending about 6 months a year abroad, maybe 3 months of that in Scotland, especially if my children are at uni there. 

 

If I were staying in Thailand, I could live on 30,000 a month easily, once the kids are out the house, the house and car are paid. I won't need a visa, which is the main reason I applied for Thai citizenship a few years ago.

 

 

 

 

 

 

[Neeranam]

22 minutes ago, Phulublub said:

Does he play golf?  Will he wish to play in Thailand?  It is EXPENSIVE!! 

Where I play is 300 baht a round(9 holes), which includes a caddy. I need 200 baht more to tip the caddy and buy a few drinks.

[Peter Denis]

23 minutes ago, pineapple01 said:

Were not all skint.The Op wants to know how much, not how little.

I am not skint, far from that actually.  But was responding to a post requesting information on how to long-stay in Thailand without tying up money in a thai bank-account.

[Phulublub]

20 minutes ago, Neeranam said:

Where I play is 300 baht a round(9 holes), which includes a caddy. I need 200 baht more to tip the caddy and buy a few drinks.

At 3 times a week, 40 weeks a year - THB60000.  At THB40 = £1 about £1500.  Annual membership at a good Scottish club can be had for £300 to £400. As I said, expensive.

 

PH

[ThailandRyan]

2 hours ago, Tagged said:

 

Explanation accepted, but still it is like playing golf, putting that ball in to that hole. You can convince yourself it is new field in a different place, but really its not after been playing for years. It is a got dam hole you put your ball in to!

I would never put my ball in the hole, it would have to be the shaft since I play army golf....

[tonray]

1 hour ago, pineapple01 said:

Were not all skint.The Op wants to know how much, not how little.

Yes..but I like to pretend I am...otherwise the GF would want a Mercedes instead of the Mitsubishi

[BobBKK]

21 hours ago, Lacessit said:

Under normal conditions, that might be a reasonable strategy. Currently, it would be financial suicide. I don't know what it's like in Bangkok, but many condos and apartment blocks in Chiang Mai and Chiang Rai are standing empty. I got an email last week from my landlord's agent offering me the studio I left for 5500 baht/month if I wanted to come back to CM. 3000 baht less than when I left.

yes agreed not now

[BobBKK]

21 hours ago, GarryP said:

I wouldn't have thought that many people had 30M by the time they reached 60, let alone 50. Seems that 60 percent of people have no savings at all when they retire and have to live off their pension. 

 

Good for you though. 

 

I am looking forward to receiving the Thai Social Security pension, which will bring me in a whopping Baht 5,000 a month. ???? Luckily, I don't have to pay rent nor do I have to lock up 800k for a visa, but will have to rely on my savings when I retire, as the SSO amount is nowhere near enough.

I wasn't trying to show off in any way. I only had 30m as I sold my London home, have no family or kids etc. Now i've got around 20ish in property and live off my pensions now I hit 60. 50,000 is a nice living, 25,000 can get away with it and 100,000 is heaven. I've been knocked back on rents, of course, so i'm on about 70,000 now.

[xylophone]

Get him to do his calculations using the following process.....

 

https://www.calcxml.com/calculators/how-long-will-my-money-last?skn=#results 

 

I did and it helped me to retire here, but I was lucky initially because I had a couple of bonds paying 8% pa (no tax as domiciled overseas) and then invested in shares in a NZ utilities-type company which was paying around 6% pa dividend (not now though) and the share price of which has now more than doubled.

 

That together with a Govt pension has seen me live a good life here.

[ThailandRyan]

10 minutes ago, tonray said:

Yes..but I like to pretend I am...otherwise the GF would want a Mercedes instead of the Mitsubishi

Yes it is why I just keep the minimum here, mine wanted a BMW but she ended up with an MG, the rest is in properties and investments in the US, which I hope don't depreciate over time.  However, I still try to live as economically as I can since I do not have a condo payment here.  Monthly bills for food, utilities and entertainment still run about  40,000 baht per month with a family.......

[nausea]

To be honest, I could live on <deleted> all here. As many guys do, I assume. Having a bit of money eases the wheels. It enables you to come on Thai Visa and pontificate. Some of my best times here were when I had nothing. People tend to lose their facade when you have nothing and you get down to the nitty-gritty.

[Greg O]

Dear Worry, you're not ready and never will be. Theres never "enough" but those of us that have taken the jump always get by. Be safe and shelter at home. 

Lots of good advice by the way folks .. 

[BTB1977]

60,000 baht a month would be a good starting point. I know some will say 30 to 40. But retirement is about living , not cutting corners and doing everything on the cheap. 

[khunPer]

On 5/19/2020 at 5:58 AM, georgegeorgia said:

I have a work colleague 51yo,so depressed and bored with his life in Australia he wants to sell his house and move to Thailand.

his only money will be around 10 million baht give or take.

no other income

 

Questions are how much is enough to last him until he can eventually get the old age pension,(currently 67) so how long can that last him.

i know,a lot of you will be saying...how long is a piece of string?

Exactly, how long is a rubber band? It's really depending of life-style, which you also mention; there could be difference in spending living in Pattaya and up rural Isaan.

 

You need 800,000 baht in deposit for a retirement extension, let's make it one million, so there are 200,000 baht backup in a "rainy day account".

 

Simple calculation is 67 -51 = 16. So 16 years and 9 million baht gives an annual budget of 560,000 baht, which equals about 47,000 baht a month.

 

You can live for 47,000 baht a month, and you can also live relative well – "relative" because the string, or rubber band, of life-style is so relative – if you think of living a life with fast changing lady companionship, then you might easily spend 3 times that amount a month, or more (I know it...).

 

If you consider "investing" in a home – lets say "just" 2.5 million in a smaller condo, and some 500,000 baht in moving expenses, installments, and/or a vehicle of some kind – then you have that amount less in the calculation; i.e. 6 million divided with 16, or some 375,000 baht a year, or in the level around 31,000 baht a month. Again, it's possible to live from that amount – rent would be limited, but not zero, when owing a condo – but fun and amusement might also be limited, all depending of expectations.

 

The first around 15,000 baht a month – i.e. 500 baht a day – easily leave the pocket in exchange for food and other daily most essential needs. And another 3,000 baht to 5,000 baht should end up in a health insurance. That is little more half the monthly allowance.

 

But I've met several people living happily here for around 35,000 baht a month, so it's indeed possible.

 

On 5/19/2020 at 5:58 AM, georgegeorgia said:

the question is..........if your in your 50's or even close to 60's when is the time financially to retire?

how do you know when?

 

im in my early  50's and working out i have roughly with assets selling my house an savings  about 18- 20 million baht with no other income until 60, where i will receive my superanuation but even that wont be that much, ,but would i risk selling my house in Sydney and  retiring yet,no , i would be too scared !!

If it can help you, I did the move when I was 56 years old – it took me another year to get rid of everything at home and officially check out – and I needed to live from my savings until official retirement age of 65 (it's little later now from my Danish home country and will also soon be 67), but could start a small private retirement pension pay out at 63, giving me some 12,000 baht a month.

 

So how much is reasonable to budget with for annual spending, and how much is needed in lump sum for moving out and eventually "invest" in a home, which could be a condo, a long term lease with some improvements to make it more personal, or a house (avoiding discussions about legal ownership etc. here), and probably buying some kind of transport vehicle?

 

I found that the 800,000 baht a year, or around 65,000 baht a month, is not that way out for a fair lifestyle, plus/minus depending of personality. Add some extra on top for unforeseen expenses, extra travelling etc. it could be rounded up to a million baht a year.

 

So 67 minus number of year to actual age for early retirement, times one million baht gives a clue about needed savings, and add on top a lump sum for moving out and establishing here, including home and transport; which is very individual but easily could be counted from a million baht and up.

 

Having a spouse – and family, which could be a child or children to include – can also expand the budget, especially if there is a child, or more, to be send to international school. The family situation might sometimes surprisingly arise later, and be little unforeseen when planning in the early 50s.

 

You can consider to live from interest or dividends from savings, but to do that, you need quite a lump sum to invest. And having just about enough for the simple calculation – i.e. number of years times annual spending – investing the savings can include a risk of loss.

 

When I made the move in 2005-2006 I could plan with 5 percent to 6 percent annual interest from secured real estate bonds – in the little special Danish system you cannot loose your investment – which for each invested million would give 50,000 back annually. Depending of currency, and amount of savings, you could live a modest life for a relative reasonable amount of savings. Today you are lucky if you can get half that interest, and aiming for any higher means taking risk of loss, which even can be substantial. A combination of plain savings and investments could be a possibility, if you have the funds. When the interest was decreasing I took the risk to change to stock market, and it actually performed well – very well – but what has happened historically might not repeat in the future.

 

About 18 million baht is a fair a mount to budget with, both leaving space for some kind of home – rent or "invest" – some annual budget, and some left as backup investment in the home country; if one third for each that would be around 6 million baht. Such an amount can buy a nice home, or pay rent for similar; a reasonable amount for living expenses for a number of years, plus supplement when "superanuation" comes through; and still some backup at home, which might pay perhaps 10,000 baht extra a month in interest or dividends.

 

When it comes to investing savings, it might be worth considering currency rates. Over the past year we have seen a stronger baht giving us less bath for our foreign currency. In my case a fixed monthly allowance in foreign currency has dropped 25 percent in number of baht, however buying power might not have dropped similar, as some imported products also became little cheaper. Furthermore the outcome from invested savings has almost halfed – from around 6 percent annual interest to about 3 percent (or less) dividends after taxation – so the savings income has halfed, even before being exchanged to baht. If it instead had been invested inside Thailand in baht, the about 25 percent currency exchange loss could have been avoided. I've found that major dividend paying stocks on SET (Stock Exchange of Thailand) are performing fairly equal to other markets, and I do have a little of my savings placed there. It's again a question of how long term you're planning, and the risk factor of returning to your home country.

 

I decided to "invest" in a home in Thailand. Looking long term you would in average, including all factors, have paid the price for a home after renting around 15 years. So even with the risk factor of buying in Thailand, instead of renting similar, after 15 years you are safe from loss. In some cases it might be 20 years, in others closer to 10 years; like always with real estate depending of location. In my case, it would be about 10 years if renting similar – but I might have been to "cheap Charlie" to spend that kind of money for renting, and just settled in something a bit cheaper – however, I don't regret living in a dream house, and the already passed 10 years of dream-pleasure, no one can take away from me...????

 

Originally I had in mind to keep working, I could not even see myself stopping at 70, but after visiting a Thai island at age 52 I started to think about if it's worth it? If it's worth working hard, paying a lot of taxes – in Scandinavia you name it, we tax it – just to save up little more after 57 percent income tax, and perhaps be too old, and weak, to finally enjoy the saving from all those hard working years! I began to calculate on when enough is enough. And I'm happy that I made the move – even some corners sometimes need to be cut to make budget ends meet – I'm sure that I've had a much better life doing an early retirement, than keep on working another 15 years until now...????

[Paul DS]

On 5/19/2020 at 5:32 AM, simon43 said:

Has no one ever heard of bank accounts that pay interest?  I currently receive 8% pa on my savings here in Laos with a Franco-Lao bank.  When I retire in 5 years from now, the interest from my modest bank savings, plus my modest UK part-pension will be more than enough to live happily on.

 

Do banks in Thailand not offer similar interest-paying accounts?  (I guess not!).

Sorry I do not believe 8%   Currently it is 4% and a very risky place to put money.

 

There are only 5 Banks in Laos with a total of 45 branches together!

 

As a foreigner you require a red Lao residence permit and associated business VISA/ residence VISA to open an account with a Lao Bank. you cannot open an account with just tourist VISA etc. You need to open a deposit account before you can open a term deposit account. All money placed within these accounts is in local currency.

 

Regardless Good luck!

Edited May 20, 2020 by Paul DS

[Neeranam]

1 hour ago, khunPer said:

Exactly, how long is a rubber band? It's really depending of life-style, which you also mention; there could be difference in spending living in Pattaya and up rural Isaan.

 

You need 800,000 baht in deposit for a retirement extension, let's make it one million, so there are 200,000 baht backup in a "rainy day account".

 

Simple calculation is 67 -51 = 16. So 16 years and 9 million baht gives an annual budget of 560,000 baht, which equals about 47,000 baht a month.

 

You can live for 47,000 baht a month, and you can also live relative well – "relative" because the string, or rubber band, of life-style is so relative – if you think of living a life with fast changing lady companionship, then you might easily spend 3 times that amount a month, or more (I know it...).

 

If you consider "investing" in a home – lets say "just" 2.5 million in a smaller condo, and some 500,000 baht in moving expenses, installments, and/or a vehicle of some kind – then you have that amount less in the calculation; i.e. 6 million divided with 16, or some 375,000 baht a year, or in the level around 31,000 baht a month. Again, it's possible to live from that amount – rent would be limited, but not zero, when owing a condo – but fun and amusement might also be limited, all depending of expectations.

 

The first around 15,000 baht a month – i.e. 500 baht a day – easily leave the pocket in exchange for food and other daily most essential needs. And another 3,000 baht to 5,000 baht should end up in a health insurance. That is little more half the monthly allowance.

 

But I've met several people living happily here for around 35,000 baht a month, so it's indeed possible.

 

If it can help you, I did the move when I was 56 years old – it took me another year to get rid of everything at home and officially check out – and I needed to live from my savings until official retirement age of 65 (it's little later now from my Danish home country and will also soon be 67), but could start a small private retirement pension pay out at 63, giving me some 12,000 baht a month.

 

So how much is reasonable to budget with for annual spending, and how much is needed in lump sum for moving out and eventually "invest" in a home, which could be a condo, a long term lease with some improvements to make it more personal, or a house (avoiding discussions about legal ownership etc. here), and probably buying some kind of transport vehicle?

 

I found that the 800,000 baht a year, or around 65,000 baht a month, is not that way out for a fair lifestyle, plus/minus depending of personality. Add some extra on top for unforeseen expenses, extra travelling etc. it could be rounded up to a million baht a year.

 

So 67 minus number of year to actual age for early retirement, times one million baht gives a clue about needed savings, and add on top a lump sum for moving out and establishing here, including home and transport; which is very individual but easily could be counted from a million baht and up.

 

Having a spouse – and family, which could be a child or children to include – can also expand the budget, especially if there is a child, or more, to be send to international school. The family situation might sometimes surprisingly arise later, and be little unforeseen when planning in the early 50s.

 

You can consider to live from interest or dividends from savings, but to do that, you need quite a lump sum to invest. And having just about enough for the simple calculation – i.e. number of years times annual spending – investing the savings can include a risk of loss.

 

When I made the move in 2005-2006 I could plan with 5 percent to 6 percent annual interest from secured real estate bonds – in the little special Danish system you cannot loose your investment – which for each invested million would give 50,000 back annually. Depending of currency, and amount of savings, you could live a modest life for a relative reasonable amount of savings. Today you are lucky if you can get half that interest, and aiming for any higher means taking risk of loss, which even can be substantial. A combination of plain savings and investments could be a possibility, if you have the funds. When the interest was decreasing I took the risk to change to stock market, and it actually performed well – very well – but what has happened historically might not repeat in the future.

 

About 18 million baht is a fair a mount to budget with, both leaving space for some kind of home – rent or "invest" – some annual budget, and some left as backup investment in the home country; if one third for each that would be around 6 million baht. Such an amount can buy a nice home, or pay rent for similar; a reasonable amount for living expenses for a number of years, plus supplement when "superanuation" comes through; and still some backup at home, which might pay perhaps 10,000 baht extra a month in interest or dividends.

 

When it comes to investing savings, it might be worth considering currency rates. Over the past year we have seen a stronger baht giving us less bath for our foreign currency. In my case a fixed monthly allowance in foreign currency has dropped 25 percent in number of baht, however buying power might not have dropped similar, as some imported products also became little cheaper. Furthermore the outcome from invested savings has almost halfed – from around 6 percent annual interest to about 3 percent (or less) dividends after taxation – so the savings income has halfed, even before being exchanged to baht. If it instead had been invested inside Thailand in baht, the about 25 percent currency exchange loss could have been avoided. I've found that major dividend paying stocks on SET (Stock Exchange of Thailand) are performing fairly equal to other markets, and I do have a little of my savings placed there. It's again a question of how long term you're planning, and the risk factor of returning to your home country.

 

I decided to "invest" in a home in Thailand. Looking long term you would in average, including all factors, have paid the price for a home after renting around 15 years. So even with the risk factor of buying in Thailand, instead of renting similar, after 15 years you are safe from loss. In some cases it might be 20 years, in others closer to 10 years; like always with real estate depending of location. In my case, it would be about 10 years if renting similar – but I might have been to "cheap Charlie" to spend that kind of money for renting, and just settled in something a bit cheaper – however, I don't regret living in a dream house, and the already passed 10 years of dream-pleasure, no one can take away from me...????

 

Originally I had in mind to keep working, I could not even see myself stopping at 70, but after visiting a Thai island at age 52 I started to think about if it's worth it? If it's worth working hard, paying a lot of taxes – in Scandinavia you name it, we tax it – just to save up little more after 57 percent income tax, and perhaps be too old, and weak, to finally enjoy the saving from all those hard working years! I began to calculate on when enough is enough. And I'm happy that I made the move – even some corners sometimes need to be cut to make budget ends meet – I'm sure that I've had a much better life doing an early retirement, than keep on working another 15 years until now...????

Wow, you should write a book! 

[simon43]

1 hour ago, Paul DS said:

Sorry I do not believe 8%   Currently it is 4% and a very risky place to put money.

 

There are only 5 Banks in Laos with a total of 45 branches together!

 

As a foreigner you require a red Lao residence permit and associated business VISA/ residence VISA to open an account with a Lao Bank. you cannot open an account with just tourist VISA etc. You need to open a deposit account before you can open a term deposit account. All money placed within these accounts is in local currency.

 

Regardless Good luck!

I currently receive 8% pa interest.  Please substantiate the risk by links to information on banks that have failed in Laos ???? It has never happened in recent times...  (That being said, I hold funds in Thai banks as well, just in case!).

 

Although I hold my savings in Lao kip, you can also hold USD or Euros, but the interest rate is a few percent lower.

 

I have a red residence permit, business visa and work permit.

 

As to those who carp on about inflation, note that inflation is not unique to Laos.  I have no intention to export my modest savings, since I'm here for the long term.  My monthly income rises at a rate higher than inflation, (I teach science online and the demand from students worldwide is high - I can increase my lesson fee by 20% pa and no-one will complain that my fees are too high).

Edited May 20, 2020 by simon43

[PeteDaKat]

On 5/19/2020 at 11:32 AM, simon43 said:

I currently receive 8% pa on my savings here in Laos with a Franco-Lao bank.

If you're getting 8% you need to give the bank's name and address so we can all go over there. That is insanely high. Bangkok Bank Fixed Account, akin to a CD, was 1.5% when I opened it. By the time a buddy opened one to hold his ฿800K it had dropped to 1%.

My US money market  just dropped to 1.25% thanks to the Fed printing $1M per second.

 

Pray tell how can they pay this sky-high rate?

[Phulublub]

5 minutes ago, PeteDaKat said:

If you're getting 8% you need to give the bank's name and address so we can all go over there. That is insanely high. Bangkok Bank Fixed Account, akin to a CD, was 1.5% when I opened it. By the time a buddy opened one to hold his ฿800K it had dropped to 1%.

My US money market  just dropped to 1.25% thanks to the Fed printing $1M per second.

 

Pray tell how can they pay this sky-high rate?

If the rate is true, it will be in a currency that is heading rapidly downhill against international basket, or the Country has high inflation.  Or both.

 

PH

[simon43]

9 minutes ago, PeteDaKat said:

If you're getting 8% you need to give the bank's name and address so we can all go over there. That is insanely high. Bangkok Bank Fixed Account, akin to a CD, was 1.5% when I opened it. By the time a buddy opened one to hold his ฿800K it had dropped to 1%.

My US money market  just dropped to 1.25% thanks to the Fed printing $1M per second.

 

Pray tell how can they pay this sky-high rate?

See my post - you can't open an account - you need to be a foreign, working resident ????  Both Laos and Cambodia typically pay interest rates like this on their local currency. 

 

I forgot to mention.  Each month I import USD and change it to kip. Last year I received about 8,700 Lao kip for 1 USD.  Now it's 9,000 Kip.  Since I save in Kip, I'm happy....

 

 

Edited May 20, 2020 by simon43

[Phulublub]

11 minutes ago, simon43 said:

I currently receive 8% pa interest.

Arw you sure ...it may be 0.8%

 

PH