Bank Interest Rates

[couchpotato]

Bank interest rates for Fixed Deposit and normal Savings Accounts have been extremely low for years, but rates do seem to be rising somewhat now.

Would be interesting and beneficial for many of us to hear from posters on their recent interest rate/deposit terms at any bank.

(eg: I was quoted 0.80% for 1yr term at Bangkok Bank yesterday). 

[scubascuba3]

i think Krungsri MJD account is still 0.9% instant access but i haven't checked recently, in UK 2-3% is easy to get so i leave money there now

[Onerak]

12 minutes ago, scubascuba3 said:

i think Krungsri MJD account is still 0.9% instant access but i haven't checked recently, in UK 2-3% is easy to get so i leave money there now

Rate in the US high yield savings is creeping up to 3.8%. Of course the US market is also showing signs of rebound but equity investors are still cautious for the looming recession every one is predicting in 2023. 

[kuzie57]

This is the current one from SCB.  • 24-Month Bonus Deposit Account with physical passbook: 1.85% p.a. • 24-Month Bonus Deposit Account with e-passbook: 1.95% p.a.

[PeachCH]

Are there no digital banks in Thailand, which are offering 5 - 6% interest rates? 

[nobodysfriend]

4 hours ago, couchpotato said:

Would be interesting and beneficial for many of us to hear from posters on their recent interest rate/deposit terms at any bank.

 

SCB just offered me 1.8 % for 1 year fixed ... I declined ...

They have a very interesting index fund on the SET

[scubascuba3]

1 hour ago, nobodysfriend said:

 

SCB just offered me 1.8 % for 1 year fixed ... I declined ...

They have a very interesting index fund on the SET

The fund only goes up?

[nobodysfriend]

47 minutes ago, scubascuba3 said:

The fund only goes up?

You buy in it when the SET is down , just wait , will happen again ... to buy in this fund is free , no charges ...

Easy to make a few percent if the timing is right ...

 

 

https://www.scbam.com/en/fund/index-fund/fund-information/scbset

 

 

 

 

 

 

Edited December 13, 2022 by nobodysfriend

[nigelforbes]

My experience of banks investment funds here are that most of any potential profit advantage is lost to fees, either going in or coming out. My advice would be to buy into something similar overseas or offshore using Hargreaves Lansdowne or or similar.

[scubascuba3]

38 minutes ago, nobodysfriend said:

You buy in it when the SET is down , just wait , will happen again ... to buy in this fund is free , no charges ...

Easy to make a few percent if the timing is right ...

 

 

https://www.scbam.com/en/fund/index-fund/fund-information/scbset

 

 

 

 

 

 

There are charges in the Fund, about 1%

[finewine]

The Bangkok Bank 1 year fixed interest account should have gone up to 1.2% today (13th.)

[DFPhuket]

This site shows updated bank interest rates. A one year fixed deposit at most Thai banks remains at 1%, quite a bit lower than the 3% I'm getting in my US online savings account. 

[Harveyboy]

21 hours ago, kuzie57 said:

This is the current one from SCB.  • 24-Month Bonus Deposit Account with physical passbook: 1.85% p.a. • 24-Month Bonus Deposit Account with e-passbook: 1.95% p.a.

just got 2.3% on 3 year term deposit ...not brilliant but better than sitting there doing nothing eh 

[couchpotato]

54 minutes ago, Harveyboy said:

just got 2.3% on 3 year term deposit ...not brilliant but better than sitting there doing nothing eh 

If I interpret this correctly, then for example a one million baht Fixed deposit, you get interest of 23,000 baht (minus 15% tax) after 3 years.

 

Or should that be 2.3%p.a. and the interest is paid yearly and compounded for years 2 and 3.

 

Thanks.

[Harveyboy]

23 minutes ago, couchpotato said:

If I interpret this correctly, then for example a one million baht Fixed deposit, you get interest of 23,000 baht (minus 15% tax) after 3 years.

 

Or should that be 2.3%p.a. and the interest is paid yearly and compounded for years 2 and 3.

 

Thanks.

not sure mate I'll ask the bride and get back on it tks

[macahoom]

21 hours ago, Harveyboy said:

just got 2.3% on 3 year term deposit ...not brilliant but better than sitting there doing nothing eh 

Can you tell me which bank, please?