Best Fixed Deposit Interest Rate, Short Term?

[giddyup]

Just transferred a few million Baht and want to put it in a short term, no longer than 12 months, fixed deposit account. I'm with the SCB and they are currently offering 2.60% for 6 months, does that seem OK?

[worgeordie]

Yes that seems more than OK , but can you as Farang get it, 

maybe just for Thai's , 

regards worgeordie

[Jai Dee]

Based on this morning's brief from the SCB Investment Office I'd say that 2.6% is a very attractive rate for a fixed 6 month term.

 

[giddyup]

14 minutes ago, worgeordie said:

Yes that seems more than OK , but can you as Farang get it, 

maybe just for Thai's , 

regards worgeordie

I'll put it in my partners name, she's Thai.

[couchpotato]

As most banks only offer 0.5- 0.7% on Fixed Deposits, this 2.6% sounds wrong, but if really correct it is a very good rate. 

[Isan Farang]

5 minutes ago, giddyup said:

I'll put it in my partners name, she's Thai.

Can you provide a link to the 2.60%

 

Deposit Rates for Individuals of Commercial Banks as of 20 September 2022

Bank Saving Fixed 3 mths 6 mths 12 mths 24 mths Commercial Banks registered in Thailand           Bangkok Bank 0.2500 0.3750 0.5000 0.5000 0.5000 Krung Thai Bank 0.2500 0.3200 0.4000 0.4000 0.4500 Kasikornbank 0.2500 0.3200 0.4000 0.4000 0.4500 The Siam Commercial Bank 0.2500 0.3200 0.4000 0.4000 0.4500

[Jai Dee]

5 minutes ago, Isan Farang said:

Can you provide a link to the 2.60%

Yes, I'd be interested in seeing that SCB package too!

 

From the SCB personal banking site:

 

[giddyup]

16 minutes ago, Isan Farang said:

Can you provide a link to the 2.60%

 

Deposit Rates for Individuals of Commercial Banks as of 20 September 2022

Bank Saving Fixed 3 mths 6 mths 12 mths 24 mths Commercial Banks registered in Thailand           Bangkok Bank 0.2500 0.3750 0.5000 0.5000 0.5000 Krung Thai Bank 0.2500 0.3200 0.4000 0.4000 0.4500 Kasikornbank 0.2500 0.3200 0.4000 0.4000 0.4500 The Siam Commercial Bank 0.2500 0.3200 0.4000 0.4000 0.4500

I can't find the link, only this one which is only 1.5%

https://www.scb.co.th/content/dam/scb/personal-banking/product-sales-sheet/deposits/special7m-fixed-deposit-en.pdf

[Isan Farang]

2 minutes ago, giddyup said:

I can't find the link, only this one which is only 1.5%

https://www.scb.co.th/content/dam/scb/personal-banking/product-sales-sheet/deposits/special7m-fixed-deposit-en.pdf

Thats for August 28, 2019

[giddyup]

6 minutes ago, giddyup said:

I can't find the link, only this one which is only 1.5%

https://www.scb.co.th/content/dam/scb/personal-banking/product-sales-sheet/deposits/special7m-fixed-deposit-en.pdf

Here's the link I saw. The catch is it's for 1000 million baht.

https://www.google.co.th/search?dcr=0&sxsrf=ALiCzsZRkfZ8shAZOnhRb1L03Lai80q-qw%3A1663664668083&lei=HIIpY7LeBMuaz7sP3ICQMA&q=best fixed deposit rates in thailand&ved=2ahUKEwiy3MPsgaP6AhVLzXMBHVwABAYQsKwBKAR6BAhJEAU&biw=1594&bih=699&dpr=1

Edited September 20, 2022 by giddyup

[giddyup]

1 minute ago, Isan Farang said:

Thats for August 28, 2019

My bad.

[connda]

2 hours ago, giddyup said:

ust transferred a few million Baht and want to put it in a short term, no longer than 12 months, fixed deposit account. I'm with the SCB and they are currently offering 2.60% for 6 months, does that seem OK?

Inflation is global.  Interest rates will only head north in next few year.  Perhaps rapidly when the EU financial system collapses. Domino effect.  Then realize your money in the bank is only insured for ฿1M THB.  Don't put your eggs in one basket.

[motdaeng]

krungthai next savings:

 

1.50 % interest / via mobile app / it is only for thai ...

 

 

[Sophon]

3 hours ago, giddyup said:

Here's the link I saw. The catch is it's for 1000 million baht.

https://www.google.co.th/search?dcr=0&sxsrf=ALiCzsZRkfZ8shAZOnhRb1L03Lai80q-qw%3A1663664668083&lei=HIIpY7LeBMuaz7sP3ICQMA&q=best fixed deposit rates in thailand&ved=2ahUKEwiy3MPsgaP6AhVLzXMBHVwABAYQsKwBKAR6BAhJEAU&biw=1594&bih=699&dpr=1

And it's from 2018.

[topt]

On 9/20/2022 at 3:52 PM, Jai Dee said:

Yes, I'd be interested in seeing that SCB package too!

Nowhere near that good but SCB do have a Jad Tem account which pays 1% depending on the amount you have in it. Should be no issues for foreigners to open.

Also it is not a fixed account so the rate can change - hopefully up if/when BOT increase their rate........

 

@giddyup L&H bank have I believe some better fixed rates and helps spread your deposits over more banks. Unfortunately their web site is not very user friendly - as in I could not find the rates...... Their is a branch in Terminal 21 in Pattaya.

 

[digbeth]

I'd be weary if this is a legit offering from the Bank or the Manager's 'Special Deal' unique only to the branch, look in the news only recently in Pattaya