krungsri 1.5% only gain account?

[proton]

Anyone manage to open one of these, only online accounts? Went into the bank and asked they said not for foreigner, but the ad is in Englsih! They said foreigner can only open a 1.5% 5 month fixed account in the bank.  Why is the only gain account only for Thais? blank look. 

 

 

[scubascuba3]

It's garbage, i have the 0.9% garbage account, i leave most my money in UK 4.5% currently, can get more

[proton]

1 minute ago, scubascuba3 said:

It's garbage, i have the 0.9% garbage account, i leave most my money in UK 4.5% currently, can get more

 

i have the 0.9 account, when opened 10 years ago it was 2.25%, they have the nerve to charge 50 baht if you withdraw more than twice in a month

[KhunHeineken]

5 hours ago, scubascuba3 said:

It's garbage, i have the 0.9% garbage account, i leave most my money in UK 4.5% currently, can get more

That's exactly why I don't even have the 800k baht in Thailand.

 

The 800k baht invested in my home country, at over 5%, earns way more than the cost of the agent every year, and with the bonus I don't have to deal with immigration. 

 

The 800k baht is nothing more than a donation to a Thai bank. 

 

I continue to laugh at expats saying their extension only costs them 1,900 baht.  They don't factor in the loss of interest.

[CallumWK]

13 minutes ago, KhunHeineken said:

That's exactly why I don't even have the 800k baht in Thailand.

 

The 800k baht invested in my home country, at over 5%, earns way more than the cost of the agent every year, and with the bonus I don't have to deal with immigration. 

 

The 800k baht is nothing more than a donation to a Thai bank. 

 

I continue to laugh at expats saying their extension only costs them 1,900 baht.  They don't factor in the loss of interest.

 

That is great. My 800.000 baht is in a Thai Bank account at 2.10%, I have several other Thai bank accounts, paying between 1.75% and 2.25%.

And what is more important, I don't have to deal with the almost 80.000 baht in exchange loss.

 

[proton]

45 minutes ago, KhunHeineken said:

That's exactly why I don't even have the 800k baht in Thailand.

 

The 800k baht invested in my home country, at over 5%, earns way more than the cost of the agent every year, and with the bonus I don't have to deal with immigration. 

 

The 800k baht is nothing more than a donation to a Thai bank. 

 

I continue to laugh at expats saying their extension only costs them 1,900 baht.  They don't factor in the loss of interest.

 

800.000 K is not a lot to some of us luckily, we tend to laugh at mugs paying thousands to corrupt IO's via agents just to save a small amount

[proton]

35 minutes ago, CallumWK said:

 

That is great. My 800.000 baht is in a Thai Bank account at 2.10%, I have several other Thai bank accounts, paying between 1.75% and 2.25%.

And what is more important, I don't have to deal with the almost 80.000 baht in exchange loss.

 

 

Which account pays 2.25%?

[KhunHeineken]

16 hours ago, proton said:

 

800.000 K is not a lot to some of us luckily, we tend to laugh at mugs paying thousands to corrupt IO's via agents just to save a small amount

As I have said before, my decision is based on risk, rather than reward, or affordability. 

 

I could move 800k here tomorrow, but why would I? 

 

Thailand is an unstable, 3rd World Country, and the Thai banks are paying nothing.  It makes no economic sense for me to move the 800k here. 

 

I've posted the figures in different posts, but basically, 800k baht at 5% interest is a return of 40k baht per annum. 

 

The agent charges no where near that, and I don't have to wait in a queue, or be told I need one more photo copy and to come back blah blah blah.

 

The 800k is safe in my home country, is at call, and earning around 4 times as much than it would in a Thai bank, and I don't have to deal with immigration.  What's the downside????

 

Many argue it's illegal, and it is, but TiT.  It's been going on for decades, and I can't see it ending any time soon. 

 

I have no problem with people who DIY their extensions, but just don't tell me it ONLY costs you 1,900 baht, because it's costing way more than that, so who really are "the mugs?" 

[KhunHeineken]

16 hours ago, CallumWK said:

 

That is great. My 800.000 baht is in a Thai Bank account at 2.10%, I have several other Thai bank accounts, paying between 1.75% and 2.25%.

And what is more important, I don't have to deal with the almost 80.000 baht in exchange loss.

 

What Thai banks are paying those interest rates?

 

Sound like you have gone "all in" by moving a significant amount of money to Thailand, hence your 80,000k baht exchange losses.

 

The Australian dollar isn't going so well at the moment, but there's nothing I can do about that.  Still, the earning on my 800k is around 6%, so pays for the agent, and subsidizes the exchange loss.

 

Betting on the baht - risky.    

[CallumWK]

11 minutes ago, KhunHeineken said:

What Thai banks are paying those interest rates?

 

LH bank - CIMB - GSB  - Kasikorn - Bangkok bank. The latter 2 are the lowest at 1.80% TAX FREE

 

12 minutes ago, KhunHeineken said:

Sound like you have gone "all in" by moving a significant amount of money to Thailand, hence your 80,000k baht exchange losses.

 

Now you show how smart you are NOT. The 80K baht loss is on your 800.00 baht in just the last year, since the Aussie $ has declined by almost 10%, and going.

 

13 minutes ago, KhunHeineken said:

The Australian dollar isn't going so well at the moment, but there's nothing I can do about that.  Still, the earning on my 800k is around 6%, so pays for the agent, and subsidizes the exchange loss.

6% before withholding taxes deducted, and agent fees is 48.000, so more like 20.000 at the end of the year. Does that compensate for the 80K loss. You live on a different planet

 

 

[scubascuba3]

1 hour ago, KhunHeineken said:

As I have said before, my decision is based on risk, rather than reward, or affordability. 

 

I could move 800k here tomorrow, but why would I? 

 

Thailand is an unstable, 3rd World Country, and the Thai banks are paying nothing.  It makes no economic sense for me to move the 800k here. 

 

I've posted the figures in different posts, but basically, 800k baht at 5% interest is a return of 40k baht per annum. 

 

The agent charges no where near that, and I don't have to wait in a queue, or be told I need one more photo copy and to come back blah blah blah.

 

The 800k is safe in my home country, is at call, and earning around 4 times as much than it would in a Thai bank, and I don't have to deal with immigration.  What's the downside????

 

Many argue it's illegal, and it is, but TiT.  It's been going on for decades, and I can't see it ending any time soon. 

 

I have no problem with people who DIY their extensions, but just don't tell me it ONLY costs you 1,900 baht, because it's costing way more than that, so who really are "the mugs?" 

Having 800k here is no big deal, might need it for urgent medical care, we know hospitals need payment up front often even with insurance, which may get denied anyway. We also know money transfers from abroad can be delayed even with Wise 🦉

[KhunHeineken]

3 hours ago, CallumWK said:

LH bank - CIMB - GSB  - Kasikorn - Bangkok bank. The latter 2 are the lowest at 1.80% TAX FREE

 

From CIMB's website, for fixed term. 

 

Interest rate (p.a.) as at 8 November 2024 Deposit term Interest rate (p.a.) 1 month 0.60% 3-5 month 1.00% 6-8 month 1.20% 9 month 1.50% 10 month 1.50% 11-12 month 1.50% 24 month 1.80% 36 month 1.90%.

 

Am I looking at the wrong product?

 

3 hours ago, CallumWK said:

Now you show how smart you are NOT.

Hardly.

 

You are the one who has invested in an unstable, 3rd World Country. 

 

The risk is all yours, and for what, so you can pay 1,900 baht for an extension. 

 

3 hours ago, CallumWK said:

The 80K baht loss is on your 800.00 baht in just the last year, since the Aussie $ has declined by almost 10%, and going.

I admitted the Aussie Dollar is poor, but I have also said in other posts I have bank accounts in other countries, and in other currencies, some of which are also tied to investments. 

 

Your 80,000 baht exchange loses is not applicable to me.  

 

3 hours ago, CallumWK said:

6% before withholding taxes deducted,

Ever heard of the terms "fully franked" and "franking credits?"  No, I didn't think so.

 

3 hours ago, CallumWK said:

and agent fees is 48.000,

WooooooooW.  48,000 baht.  Link please?  What crazy agent charges that?  Who would pay that?  

 

3 hours ago, CallumWK said:

so more like 20.000 at the end of the year.

No, considerably more than 20,000 baht.  

 

3 hours ago, CallumWK said:

Does that compensate for the 80K loss. You live on a different planet

 

Your 80k loss is BS.  Definitely for me, and most likely for everyone else. 

 

Yes, at 48,000 baht agents fees, you are definitely on a different planet.