Interest of fixed deposit and extension

[Aforek]

Hello, I have a fixed deposit of 800000 bahts for three years and my interests are paid on march 21 , it means than it will be more than 800000 bahts ; I have to do my extension about at march 25 ; how does it work for the update ? 

Is there a problem with the immigration ? can I have an update of more than 800000 bahts and an update at march 25 even if my date is finished ( stop on march 21 )  ? I am little bit anxious, my immigration boss is not cool at all

thank you 

[MJCM]

IMHO if the amount is more then 800.000 THB on the date of the extension and the money is in the account for more then enough required time then there should be NO issue.

 

My Fixed Deposit amount is well over the required amount and never an issue!

[DrJack54]

I use FD account for my extensions. 

Personally I make 1000 baht deposit on day of application and obtaining my bank letter.

I have over 800k in the account

Edited March 12, 2022 by DrJack54

[tonray]

Requirement is a 'minimum' of 800K baht...more is Ok too

[homeseeker]

As said above if u have 800k or more in your account for the required time there is no issue.

Relax.

[MJCM]

4 minutes ago, DrJack54 said:

Personally I make 1000 baht deposit on day of application and obtaining my bank letter.

Yep, that is important! To deposit some money in the FD before going to the bank to get the letter.

 

Make sure that the amount in the account (bank book) and the bank letter are the same!!

Edited March 12, 2022 by MJCM

[jeffandgop]

8 minutes ago, MJCM said:

Yep, that is important! To deposit some money in the FD before going to the bank to get the letter.

 

Make sure that the amount in the account (bank book) and the bank letter are the same!!

I’ve never have made (or had to make) any deposit in my fix account when I obtain the bank letter. My passbook is updated at the time I request the bank letter which matches then the passbook. 

[Robin]

You need an update dated for the day you do the extension.  This means you have to deposit or withdraw some money, min. 100B, from the account on that day.  other than that, you only need to keep a minimum of 800,000 in the account for at least the last 3 months.  I/O will most probably want to see a copy of your bank passbook with an update on the day of your extension, hence the need for a transaction on that day.

I suggest you make an appointment with your bank for them to give you all the info you need on the morning of your extension, and then go straight to I/O with all the stuff.  If possible, leave time for another visit to your bank if the I/O is being picky and wants to make your life difficult.

Also easiest if you visit I/O before and get an appointment to do this extension and get the I/O to give you a list of required documents to show the bank.

[DrJack54]

29 minutes ago, Aforek said:

I am little bit anxious, my immigration boss is not cool at all

thank you

Which immigration office?

[Aforek]

Prachinburi I.O 

 

thanks for the answers, but my fixed deposit is finished on march 21 ; 800000  bahts can stay on the account even after this date  ?  

Edited March 12, 2022 by Aforek

[Aforek]

18 minutes ago, jeffandgop said:

I’ve never have made (or had to make) any deposit in my fix account when I obtain the bank letter. My passbook is updated at the time I request the bank letter which matches then the passbook. 

you are lucky, not like this with SCB, you have to put and take money to have an update 

[DrJack54]

3 minutes ago, Aforek said:

Prachinburi 

Not familiar.

Think you stated you immigration not the most helpful.

Don't worry best to obtain bank letter morning of attending imm office.

I give the bank Clerk 1000 to deposit into FD account (minimum amount for deposit).

Ask clerk to then make bank letter.

Obviously the letter reflects the activity in account and update on day of application.

That will satisfy any immigration office. 

[Lite Beer]

When your deposit matures it stays in tha account and rolls over for another 3 years. Plus the interest.

Up to you if you want to withdraw the interest or leave it there.

[MJCM]

33 minutes ago, Lite Beer said:

When your deposit matures it stays in tha account and rolls over for another 3 years. Plus the interest.

Up to you if you want to withdraw the interest or leave it there.

Mine (at Bangkok Bank) only rolls over for another 1 year.

 

It has (AFAIK) to do with the terms you opened up your account in the 1st place.

[DrJack54]

2 minutes ago, MJCM said:

Mine (at Bangkok Bank) only rolls over for another 1 year.

 

It has (AFAIK) to do with the terms you opened up your account in the 1st place.

Indeed. Mine rolls over (Kasikorn bank) however the % rate is determined by current bank rate at that time. 

 

I recall the bank Clerk apologizing for the rate going down.

I had to laugh..

[EricTh]

7 minutes ago, MJCM said:

Mine (at Bangkok Bank) only rolls over for another 1 year.

 

It has (AFAIK) to do with the terms you opened up your account in the 1st place.

 

Isn't the interest rate like only 0.5% for 1 year which is pathetic?

 

[DrJack54]

3 minutes ago, EricTh said:

 

Isn't the interest rate like only 0.5% for 1 year which is pathetic?

 

Ha...I just looked at my FD bank book.

I initially had 1.55%

Now it is 0.4%

Either way not much.

 

[MJCM]

7 minutes ago, EricTh said:

 

Isn't the interest rate like only 0.5% for 1 year which is pathetic?

 

yep, you are right. I will go to the Bank and see if I can change it, but who knows what new regulations there are for new FD's???????

[jeffandgop]

1 hour ago, Aforek said:

you are lucky, not like this with SCB, you have to put and take money to have an update 

My FD is with Bangkok Bank

[DrJack54]

5 minutes ago, MJCM said:

yep, you are right. I will go to the Bank and see if I can change it, but who knows what new regulations there are for new FD's???????

You may like to check out this forum. Has lot of info re banking.

https://aseannow.com/forum/13-jobs-economy-banking-business-investments/

 

[jeffandgop]

1 hour ago, Robin said:

You need an update dated for the day you do the extension.  This means you have to deposit or withdraw some money, min. 100B, from the account on that day.  other than that, you only need to keep a minimum of 800,000 in the account for at least the last 3 months.  I/O will most probably want to see a copy of your bank passbook with an update on the day of your extension, hence the need for a transaction on that day.

I suggest you make an appointment with your bank for them to give you all the info you need on the morning of your extension, and then go straight to I/O with all the stuff.  If possible, leave time for another visit to your bank if the I/O is being picky and wants to make your life difficult.

Also easiest if you visit I/O before and get an appointment to do this extension and get the I/O to give you a list of required documents to show the bank.

Sounds like some banks won’t  update your FD passbook without a deposit. Then you certainly would have to do that. But if your bank, like my Bangkok Bank is, they’ll update the FD passbook upon request without having to make any deposit or withdrawal 

Edited March 12, 2022 by jeffandgop

[blackshadow]

1 hour ago, DrJack54 said:

I use FD account for my extensions. 

Personally I make 1000 baht deposit on day of application and obtaining my bank letter.

I have over 800k in the account

what is the interest rate for your F D account, if you not mind me asking and which bank ???

[EricTh]

16 minutes ago, MJCM said:

yep, you are right. I will go to the Bank and see if I can change it, but who knows what new regulations there are for new FD's???????

You might want to try Mee Tae Dai bank account with Krungsri, they give about 1% interest rate which is double that of 0.5%

 

[DrJack54]

6 minutes ago, blackshadow said:

what is the interest rate for your F D account, if you not mind me asking and which bank ???

Kasikorn bank 0.4% FD account. 

 

BTW about a year ago I had to park largish amount in my Oz Westpac bank account.

I was asking for 1yr term.

Their reply ....0.5%

Edited March 12, 2022 by DrJack54

[MJCM]

2 minutes ago, EricTh said:

You might want to try Mee Tae Dai bank account with Krungsri, they give about 1% interest rate which is double that of 0.5%

 

Thx, for the advice. Last time i went to Krungsri (Yellow Bank), they threw the workpermit "book" at me to open a account ????

[blackshadow]

1 minute ago, DrJack54 said:

Kasikorn bank 0.4% FD account. 

thank you i have kassikorn bank......am surprised at the low interest rate.....!!

[mahjongguy]

11 minutes ago, jeffandgop said:

Sounds like some banks won’t  update your FD passbook without a deposit. Then you certainly would have to do that. But if your bank, like my Bangkok Bank is, they’ll update the FD passbook upon request without having to make any deposit or withdrawal 

The key word is "forced". Every bank clerk I've engaged with has recognized the term "force update" and complied.

BTW, an advantage to Fixed Accounts: you don't need to keep the bankbook updated throughout the year in order to avoid summarized entries. Immigration, in an ordinary savings account, if they see a period of transactions collapsed into a single line, how can they be certain you maintained the minimum balance?    

[worgeordie]

1 hour ago, jeffandgop said:

I’ve never have made (or had to make) any deposit in my fix account when I obtain the bank letter. My passbook is updated at the time I request the bank letter which matches then the passbook. 

Yes that's what I do , no need to put anything into the account just

update the book, then book and letter are same amount..

regards worgeordie

[gamb00ler]

39 minutes ago, jeffandgop said:

Sounds like some banks won’t  update your FD passbook without a deposit. Then you certainly would have to do that. But if your bank, like my Bangkok Bank is, they’ll update the FD passbook upon request without having to make any deposit or withdrawal 

You can even use the ATM-like machine that updates passbooks to get an update anytime for FD accounts at Bangkok bank.

[EricTh]

2 hours ago, MJCM said:

Thx, for the advice. Last time i went to Krungsri (Yellow Bank), they threw the workpermit "book" at me to open a account ????

I could open it with a Non-O retirement extension.

 

Maybe try again if there is a new manager or go to another branch.

 

 

Edited March 12, 2022 by EricTh