Bank Savings Interest Rates 2023

[agogohome]

1 hour ago, topt said:

Do you mean they only accept Thai customers for FCD accounts - as I have a baht fixed deposit account with them for many years?

That is a very good rate for USD though

Exchange rates are the deal breaker. Just because it favours the dollar now, doesn't mean it will in the future. 

[gamb00ler]

In searching the LH Bank site, I noticed that they now allow foreigners to open a Pro-Fit account that pays 1.5% for the first 3M฿ and then 1.75% on the next 47M฿.

[gamb00ler]

25 minutes ago, agogohome said:

Exchange rates are the deal breaker. Just because it favours the dollar now, doesn't mean it will in the future. 

No matter where your money sits.... unfortunately you will always be subject to exchange rate risk.

[brianthainess]

On 4/5/2023 at 10:39 PM, kiko11 said:

Krungthai offers 0.25% interest for savings account. How come I never received any interest whatsoever in the last years? 

If you have a 1yr extension you should be able to open a fixed deposit account fixed deposit of 3 months 1.17% pa, 6mth 1.25, 12mth 1.7 So you have the wrong type of account. 

[villageidiotY2K]

correct me if im wrong, but whats all the hype with 1-2% rate etc etc?

if 2% of 1mil is at around 20,000 baht per annum??

do these retired expats in TH got 50mil baht in their account or something? 

Im honestly am not sure as i dont have retired acquaintances.

 

for myself this come across as thais filling their diesel up cus they heard the news that fuel price will rise 0.50 baht the next day... how much savings did u get for ur diesel? 30 baht?? 

[topt]

3 hours ago, villageidiotY2K said:

correct me if im wrong, but whats all the hype with 1-2% rate etc etc?

What hype?

People have money on deposit and are looking for the best deal. Considering the thread is a year old and the low number of responses suggests something less than hype don't you think.......

 

But then again perhaps your choice of nom de plume was inspired........

[sometimewoodworker]

On 6/2/2024 at 2:34 PM, brianthainess said:

If you have a 1yr extension you should be able to open a fixed deposit account fixed deposit of 3 months 1.17% pa, 6mth 1.25, 12mth 1.7 So you have the wrong type of account. 

And for longer deposits 

[CallumWK]

On 4/9/2024 at 7:01 PM, gamb00ler said:

LH Bank (Thai customers only!) sent an offer to my wife:

I didn't read the actual terms and conditions but in the past they only accept Thai customers

 

Yes you get 5.35%, but you first have to buy $ and at the end of the term exchange them to baht again.

 

The difference between buying and selling rate is about 2%, so that is already only 3.35% left, and that is if the dollar remains stable.

 

Have you looked at the exchange rate this week?

 

And I forgot, I guess that interest is subject to 15% withholding tax, so with the baht getting stronger, and the withholding tax, your 5.35% may actually be a negatvive end result

Edited July 17 by CallumWK

[gamb00ler]

1 hour ago, CallumWK said:

The difference between buying and selling rate is about 2%, so that is already only 3.35% left, and that is if the dollar remains stable.

 

Have you looked at the exchange rate this week?

 

And I forgot, I guess that interest is subject to 15% withholding tax, so with the baht getting stronger, and the withholding tax, your 5.35% may actually be a negatvive end result

LH Bank has the biggest spread between buy & sell exchange rates of the major Thai banks.... about 2% compared to .8% for Bangkok and SCB banks.

 

I think if you wired LHBank funds in US$ and you didn't need to change to ฿ on maturity you could save that 2%.

 

As for the 15% withholding from interest, other Thai banks have stopped it when I gave them my Thai tax ID.  If a bank won't stop the withholding you can easily get all the withholdings refunded if you have little taxable income and take the time to file taxes.

[gk10012001]

Etrade, now Morgan Stanley Premium Savings account is 4.5 %. 

[topt]

10 hours ago, gk10012001 said:

Etrade, now Morgan Stanley Premium Savings account is 4.5 %. 

It is not just you but I really don't understand why people are posting foreign bank interest rates in a Thailand specific thread - well it is supposed to be........

 

UK/Europe/US rates have been far higher than Thailand for more than a few years with over 5% still available from many UK accounts.........

[H1w4yR1da]

Got 2.15% fixed from LH Bank for 11 months.