Best Bank for highest interest rate on long term deposit?

[EVENKEEL]

We went to GSB to inquire, a 36 month deposit only pays .75 %. There has to be better options. Anyone here have advice.

[ezzra]

Whichever bank you'll put your money it will not out run Thailand's annual current inflation rate of 4.6% and climbing...

[1FinickyOne]

12 minutes ago, ezzra said:

Whichever bank you'll put your money it will not out run Thailand's annual current inflation rate of 4.6% and climbing...

but their idea is to limit their loss, it is not a bad question... they are looking for best available bank option... check SCB and Kasi.. but you have to shop around. Different deals at different times. 

Edited May 11, 2022 by 1FinickyOne

[userabcd]

All interest rates are on the banks website for their accounts. It can be easily researched.

 

Also note for some accounts to check eligibility, term, access to money and loss of interest upon early withdrawal.

[EVENKEEL]

6 minutes ago, 1FinickyOne said:

but their idea is to limit their loss, it is not a bad question... they are looking for best available bank option... check SCB and Kasi.. but you have to shop around. Different deals at different times. 

I just want a place to park my kid's money in Thailand till college age in 8 yrs. 

[EVENKEEL]

5 minutes ago, userabcd said:

All interest rates are on the banks website for their accounts. It can be easily researched.

 

Also note for some accounts to check eligibility, term, access to money and loss of interest upon early withdrawal.

It's just the rates are so low online, I'd have to think there's a better option that someone would share.

[KhunLA]

If your 'oops' fund is full enough, simply spend your money, as it's worth more today, than it will be tomorrow.   Besides, more fun to spend it than save it.  Can be a challenge though, especially when you're usually thrifty / CC to begin with.

[Sparktrader]

1 hour ago, EVENKEEL said:

I just want a place to park my kid's money in Thailand till college age in 8 yrs. 

Bhp shares 8.5% yield

[Sparktrader]

1 hour ago, EVENKEEL said:

It's just the rates are so low online, I'd have to think there's a better option that someone would share.

Rates been low for years. Watch the news once in a while.

[EVENKEEL]

9 minutes ago, KhunLA said:

If your 'oops' fund is full enough, simply spend your money, as it's worth more today, than it will be tomorrow.   Besides, more fun to spend it than save it.  Can be a challenge though, especially when you're usually thrifty / CC to begin with.

I agree spending is good. Just bought a 2022 Isuzu MUX 3.0L. But I get a nice SS check for my 10 yr old and need a place to park it where I can maximize the return. It will be the kid's college fund.

[Sparktrader]

2 minutes ago, EVENKEEL said:

I agree spending is good. Just bought a 2022 Isuzu MUX 3.0L. But I get a nice SS check for my 10 yr old and need a place to park it where I can maximize the return. It will be the kid's college fund.

Cash returns been low for 15 years.

[EVENKEEL]

4 minutes ago, Sparktrader said:

Bhp shares 8.5% yield

Sort of looking for a secure place to park money in Thailand for kid's college fund.

[Sparktrader]

Just now, EVENKEEL said:

Sort of looking for a secure place to park money in Thailand for kid's college fund.

1% cash

Up to you

Gold might be better it night go up more

[KhunLA]

43 minutes ago, EVENKEEL said:

I agree spending is good. Just bought a 2022 Isuzu MUX 3.0L. But I get a nice SS check for my 10 yr old and need a place to park it where I can maximize the return. It will be the kid's college fund.

My daughter is buying a townhouse, in Rangsit area, as an investment.  If she follows my advice, in 12 years, it will be paid off, and pretty much by the tenants paying most of it.  Anything she adds to it, to pay the mortgage down, will actually be her contribution.

 

The townhouse itself, is 2.6 mill, 30 yr mortgage @ 11 k a month + 2k assoc fee, and if she puts additional 10k a month into it, then paid off in 12+ ish years.  She'll have a 3 million baht house in 12 yrs for < 1.5 million, if at worst, it's rented out just for the mortgage+fees.  Actually they rent for 17k a month.  So wide margin to play with, and could actually pay off earlier.  

 

Buying down the mortgage, for every 10k she spends, she saves almost 6700 a month in interest, on average.  Mortgage will be 3% for first 3 yrs, so will probably take a hit, to 5% later on.  There is a few thousand baht a month to play with, that keeps her on track, to early pay off, w/10k additional principal payment.

Edited May 11, 2022 by KhunLA

[userabcd]

2 hours ago, EVENKEEL said:

It's just the rates are so low online, I'd have to think there's a better option that someone would share.

The rates are what they are, low, everywhere, and inflation is eating the money every year if it sits in a bank account.

 

Basically over 10 years the purchasing power of the money sitting in the bank will have approx 50% of its original value.

 

Govts want people to spend their money on stuff with government regulated companies or take and assume a risk investing in stocks or bonds with a finance company or use the capital to buy property to pay the bank interest on a loan all which generate tax revenue for the government.

 

There is this krungsri mee tai dai account paying 0.9% on savings 100K to 2mil baht if open account in branch or 1% if open an account online. I think this is one of the best at the moment and I think is only available to Thais.

Edited May 11, 2022 by userabcd

[Sparktrader]

5 minutes ago, userabcd said:

The rates are what they are, low, everywhere, and inflation is eating the money every year if it sits in a bank account.

 

Basically over 10 years the purchasing power of the money sitting in the bank will have approx 50% of its original value.

 

Govts want people to spend their money on stuff with government regulated companies or take and assume a risk investing in stocks or bonds with a finance company or use the capital to buy property to pay the bank interest on a loan all which generate tax revenue for the government.

Stocks arent risky unless you do no research

[userabcd]

28 minutes ago, Sparktrader said:

Stocks arent risky unless you do no research

Stocks are always a risk and not everyone is savvy at undestanding and selecting funds, stocks and bonds and predicting what the markets will be doing at any time and factoring in all the fees charged buying and selling these things.

Edited May 11, 2022 by userabcd

[hughrection]

18 minutes ago, userabcd said:

I think this is one of the best at the moment and I think is only available to Thais.

or if you have a work permit.

[Henryford]

19 minutes ago, userabcd said:

 

 

There is this krungsri mee tai dai account paying 0.9% on savings 100K to 2mil baht if open account in branch or 1% if open an account online. I think this is one of the best at the moment and I think is only available to Thais.

Not correct i have a MTD account. SCB do a 1.5% Easy account but i couldn't open one.

[Onerak]

2 hours ago, EVENKEEL said:

I just want a place to park my kid's money in Thailand till college age in 8 yrs. 

If you're from USA, you can put up to $10,000 in US government i-Bond now for 9.7% interest. Withdrawal in the first year, no interest. Lose last three months interest if withdrawn within five years. 

[userabcd]

6 minutes ago, Henryford said:

Not correct i have a MTD account. SCB do a 1.5% Easy account but i couldn't open one.

Thats what the Krungsri rep told my wife when she opened a mtd account and we asked them directly.

 

Anyhow good for you if you were able to open one.

Edited May 11, 2022 by userabcd

[Onerak]

3 minutes ago, Henryford said:

Not correct i have a MTD account. SCB do a 1.5% Easy account but i couldn't open one.

I have an MTD account @ Krungsri bank where I keep 300K for emergency use. Not sure about interest rate. 

[KhunLA]

37 minutes ago, userabcd said:

There is this krungsri mee tai dai account paying 0.9% on savings 100K to 2mil baht if open account in branch or 1% if open an account online. I think this is one of the best at the moment and I think is only available to Thais.

About the same, shy of 1 % at BkkBank & Thanachart bank also.

[1FinickyOne]

35 minutes ago, Sparktrader said:

Stocks arent risky unless you do no research

Bull-pucky... or don't you watch the news? 

[1FinickyOne]

1 hour ago, EVENKEEL said:

Sort of looking for a secure place to park money in Thailand for kid's college fund.

I am a long time investor, have done very well. I am 85% cash right now. You can buy property here that yields rental income but that requires some knowledge and is a job too... 

 

I wish I had answers for myself... 

[scubascuba3]

Krungsri 0.9% SCB 1.5% both instant access