Bank account for seasoning and good interest rate

[fishtank]

Wow. Dropped massively in the last year.

SCB DEPOSIT RATES %

Saving

0.25

Current

0.00

Fixed 12 Months

0.40

Fixed 24 Months

0.45

Fixed 36 Months

0.65

 

[recom273]

11 hours ago, Susco said:

I see this on the icbc website

 

I see this on the ICBC site - obviously there are some conditions attached to the tax free, as you can see the highest they offer on a regular fixed term is rather less than that.

But I will enquire on the minimum deposit In the week.

[KKr]

what are the Criteria applied by Immigration as to what is an acceptable bank,
anyone has an informed opinion on this ?

Reason for the question is that there are hundreds if not thousands of local cooperative credit unions, that, depending on their balance sheet situation, may offer better rates than mainstream banks.

from BoT website:
 

Saving Cooperative and Credit Union established on voluntary basis by members that generally consists of people with the common bond (e.g. same occupation or living areas etc.), where the operating funds of the cooperative is contributed periodically by members. The contributed funds will be loaned out to support other members who are in need of money with interest charged. The benefit gained from permitting loans will be contributed to members in the form of interest rate, dividend or other benefits etc. Saving Cooperative and Credit Union is under the supervision of the Board of National Cooperative Development in accordance with The Cooperatives Act, B.E. 2542.

 

[1FinickyOne]

On 3/13/2021 at 5:40 PM, Lacrimas said:

Well, some bank accounts can give you up to 1.5% but I don't know if they meet the immigration requirements. An extra 20.000 baht is better than nothing. 

too many qualifications for that rate as I discovered recently.. I am getting a fraction of 1% as in USA too... 

not much but it beats sucking sour crabapples.. 

[ubonjoe]

5 minutes ago, KKr said:

Reason for the question is that there are hundreds if not thousands of local cooperative credit unions, that, depending on their balance sheet situation, may offer better rates than mainstream banks.

It has to be a registered bank. They will not accept accounts at credit unions.

[KKr]

8 minutes ago, ubonjoe said:

It has to be a registered bank. They will not accept accounts at credit unions.

Clear, thank you for elaborating.

[KannikaP]

On 3/13/2021 at 5:47 PM, DrJack54 said:

The funds must be available for instant withdrawal with loss of funds other than interest.

Should it not be WITHOUT loss of funds?

[Susco]

2 hours ago, recom273 said:

I see this on the ICBC site - obviously there are some conditions attached to the tax free, as you can see the highest they offer on a regular fixed term is rather less than that.

But I will enquire on the minimum deposit In the week.

The conditions are on the website as well.

 

You can deposit maximum 25K per month

[sitti]

This month, Citibank offers 2% on 3-month time deposit. But you also have to invest in mutual fund in order to get it. I just signed this up today.

[recom273]

54 minutes ago, Susco said:

The conditions are on the website as well.

 

You can deposit maximum 25K per month

Which is absolutely no use to myself or the OP .. 

[Maestro]

Digger70, you did not mention your age and this can be a factor at certain banks. My Super Senior Fixed Deposit Account at Kasikorn Bank, running from year to year, currently pays 0.8% p.a. with interest payments made monthly. I am not using it as proof of money in the bank for any extension of stay but I believe this account would qualify for that purpose. I can close the account at any time but would lose the preferential interest rate for the entire 12-month deposit period, I believe.

The Krungsri bank adjusts the interest rate for the Mee Tae Dai Savings Account at irregular intervals, calculates the interest daily and credits it to the account on a monthly basis. The latest interest rate sheet shows a rate of 1.0% p.a. for this account. Withdrawals and deposits can be made at any time.

These are the two banks with which I am familiar. Other banks will have other offers.

[Maestro]

Removed some off-topic posts and the replies to them.