@walt1 ... SCB has now further reduced the rate on the EZ Savings account to 1.25%

On 12/22/2024 at 4:04 AM, ronnie50 said:

Does anyone know (for a fact) if foreigners are not offered the better locked-in rates? In other words, are Thai customers at the same bank accessing better rates than foreigners with existing accounts there? I noticed the adverts above from Krungthai are in English - are they in Thai too?

[THAILAND] Bank Savings Interest Rates - post

Hello ronnie50 to determine some basic interest rates (Thailand) use this link https://www.bot.or.th/en/statistics/interest-rate.html

With respect to the question about the difference for a Thai customers vs foreign customers at same bank accessing better rates ... the answer is yes but has to do with whether the customer (Thai or Foreigner) has a TIN (Tax Identification Number) with the TIN the customers (all) will get the preferred higher rates (Confirmed with BBK & SCB only). Also see for example the BOT posted rates and the BBL (Bangkok Bank) current deposit rates. As you can see there are many options available but most influenced by the holder/depositor having a TIN. The determination & understanding of GIC & saviungs rates in Thailand does require you to read Thai-language. Most banks don't publish a English version. BBL Sept posted rates are attached. So

Often banks will carry the interest rate forward, for example my current (no-certified) GIC amounts. The first date is the initial deposit date and the 4th column is the interest rate the last two dates are the inception and then next pay dates (anniversary date).

TIN - Now for personal reasons I have choose not to get a TIN and I regulate my stays now to be less than 180 days to avoid having to pay tax. {I am in middle messy divorce and my x-wife works for Thai Revenue Department}

Security of deposit - in past 16 years never had any issues or feeling that I could not access my money.

02 Dec 2019	1	105,404.12	0.950	02 Dec 2025	02 Dec 2026
18 Mar 2026	2	45,000.00	0.850	18 Mar 2026	18 Mar 2027
01 Jun 2026	3	50,000.00	0.750	01 Jun 2026	01 Jun 2027

DepositRates_3Sep2026.pdf

8 hours ago, oceanbluejewell said:

With respect to the question about the difference for a Thai customers vs foreign customers at same bank accessing better rates ... the answer is yes but has to do with whether the customer (Thai or Foreigner) has a TIN (Tax Identification Number) with the TIN the customers (all) will get the preferred higher rates (Confirmed with BBK & SCB only).

Thanks. Very old post, but useful reply. I don't have a TIN either and don't plan on getting one for a couple of different reasons. I have a couple of savings accounts with 2 of the major banks. I get interest with 15% withholding tax twice yearly. Not sure if it is the same rate for Thais (I don't have GICs in Thailand).