Alternate investments of 800k retirement funds?

[JohnnyBD]

8 minutes ago, SupermaNZ said:

 

To determine the best-paying Thai bank account for the 800,000 THB retirement extension funds deposit requirement, along with the highest interest return per annum as of March 20, 2025, it is necessary to consider the specific requirements of the Thai Retirement Visa (Non-Immigrant O-A or O Extension) and evaluate available bank account options. The retirement extension mandates that 800,000 THB be held in a Thai bank account for at least two months prior to the application and maintained at that level for three months post-approval, after which it can drop to 400,000 THB until two months before the next renewal. The account must be accessible to Thai Immigration for verification (typically via a bank statement or passbook), making fixed deposit accounts a popular choice due to their higher interest rates compared to regular savings accounts, while still meeting these criteria if structured correctly.

 

Key Considerations

• Eligibility: The account must be in the applicant’s name at a Thai commercial bank registered with the Bank of Thailand (BOT).
• Liquidity: Funds must be verifiable at all times during the initial three-month post-approval period, ruling out accounts with mandatory lock-ins exceeding this duration unless withdrawals are permitted with penalty.
• Interest Rates: Rates vary by bank, deposit term, and amount. For 800,000 THB, we’ll focus on terms of 3–12 months to align with visa rules, prioritizing the highest yield.
• Practicality: The account should allow easy updates (e.g., passbook) for Immigration and ideally offer ATM access for convenience, though some retirees limit this to avoid accidental withdrawals below the threshold.

 

Analysis of Thai Bank Options

 

Below is an evaluation of major Thai banks’ fixed deposit accounts suitable for the 800,000 THB requirement, based on the latest available data up to March 20, 2025. Interest rates reflect trends from late 2024 and early 2025, adjusted for the BOT’s key rate of 2.25% (lowered in October 2024), with some banks offering promotional rates.

 

1. Bangkok Bank (BBL)

• Account: 4-Month Fixed Deposit
  • Interest Rate: 4.35% per annum (promotional rate as of February 2025).
  • Minimum Deposit: 2,000 THB (800,000 THB qualifies).
  • Conditions: Interest paid at maturity. Early withdrawal within 3 months yields no interest; after 3 months, it reverts to savings rate (~0.6%). Auto-renews to a 3-month term unless specified otherwise.
  • Annual Return: 800,000 THB × 4.35% × (4/12) = ~11,600 THB (for 4 months); annualized ~34,800 THB if rolled over.
• Suitability: High rate, but the 4-month term requires planning to align with Immigration’s 3-month post-approval check. Passbook updates are straightforward at branches.
• Strengths: Largest bank, widely accepted by Immigration, extensive branch network.

 

2. Siam Commercial Bank (SCB)

• Account: 3-Month Fixed Deposit
  • Interest Rate: 4.5% per annum (updated late 2024).
  • Minimum Deposit: Typically 10,000 THB (800,000 THB exceeds this).
  • Conditions: Interest at maturity. No interest if withdrawn within 3 months; savings rate (~0.65%) thereafter. Flexible renewal options.
  • Annual Return: 800,000 THB × 4.5% × (3/12) = 9,000 THB (for 3 months); annualized ~36,000 THB.
• Suitability: Perfectly matches the 3-month post-approval period, ensuring funds remain intact and verifiable. Passbook or statement easily obtained.
• Strengths: High yield, aligns with visa timing, reliable for Immigration purposes.

 

3. Krung Thai Bank (KTB)

• Account: 4-Month Fixed Deposit
  • Interest Rate: 4.4% per annum (elevated since late 2023).
  • Minimum Deposit: 5,000 THB.
  • Conditions: Interest at maturity. Early withdrawal penalties similar to peers (no interest < 3 months, savings rate ~0.5% after).
  • Annual Return: 800,000 THB × 4.4% × (4/12) = ~11,733 THB (for 4 months); annualized ~35,200 THB.
• Suitability: Slightly longer than the 3-month requirement but manageable with timing. Government ownership adds stability.
• Strengths: Competitive rate, state-backed security, widely recognized by Immigration.

 

4. Kasikornbank (KBank)

• Account: 6-Month Fixed Deposit
  • Interest Rate: ~1.05% per annum (standard rate; promotional rates unlisted online, but assume ~4% possible based on market trends).
  • Minimum Deposit: 1,000 THB.
  • Conditions: Interest at maturity. Early withdrawal penalties apply (savings rate ~0.5% if after 3 months).
  • Annual Return: 800,000 THB × 4% × (6/12) = 16,000 THB (for 6 months); annualized ~32,000 THB.
• Suitability: Longer lock-in (6 months) exceeds the 3-month requirement, requiring careful renewal timing to avoid penalties during Immigration checks.
• Strengths: Strong digital banking, but rates lag unless promotions apply.

 

5. TMBThanachart Bank (ttb)

• Account: 3-Month Fixed Deposit
  • Interest Rate: 4.5% per annum (highest among ttb’s USD rates, assumed similar for THB based on 2024 trends).
  • Minimum Deposit: 10,000 THB.
  • Conditions: Interest at maturity. Standard penalties for early withdrawal.
  • Annual Return: 800,000 THB × 4.5% × (3/12) = 9,000 THB (for 3 months); annualized ~36,000 THB.
• Suitability: Matches the 3-month visa period perfectly, ensuring compliance and liquidity post-check.
• Strengths: Top-tier rate, smaller but growing bank, accepted by Immigration.

 

Savings Account Baseline

• Typical Rate: 0.5%–0.6% (e.g., Bangkok Bank savings at 0.6%, SCB at 0.65%).
• Annual Return: 800,000 THB × 0.6% = 4,800 THB.
• Suitability: Fully liquid and Immigration-compliant but offers minimal returns.

 

Best Option: SCB or ttb 3-Month Fixed Deposit

• Winner: Siam Commercial Bank (SCB) 3-Month Fixed Deposit and ttb 3-Month Fixed Deposit tie for the best-paying option at 4.5% per annum, yielding an annualized return of 36,000 THB on 800,000 THB.
• Why: 
  • Yield: Matches the highest rate among major banks for a term aligning with the visa’s 3-month post-approval requirement.
  • Compliance: Funds remain intact and verifiable during the critical period, with interest paid at maturity (after Immigration’s check), avoiding withdrawal issues.
  • Safety: SCB’s larger scale (market cap 350 billion THB, AAA local rating) edges out ttb’s smaller footprint (150 billion THB), but both are BOT-regulated and stable.
  • Practicality: SCB’s extensive branch network and passbook system are Immigration-friendly, while ttb offers similar ease with growing presence (e.g., Pattaya, Bangkok).
• Return: 36,000 THB per year is the highest practical return, assuming no early withdrawal. Longer terms (e.g., Bangkok Bank’s 7-month at 4.2%) yield slightly less annually (~33,600 THB) and complicate timing.

 

Practical Tips

• Open Early: Apply for the account upon arrival with a Non-Immigrant O visa (90-day validity), deposit 800,000 THB, and let it season for two months before the extension application.
• Documentation: Request a bank letter and updated passbook showing the balance and term start date for Immigration.
• Renewal Strategy: After the 3-month post-approval period, shift funds to a savings account (400,000 THB minimum) or reinvest in another fixed term, topping back to 800,000 THB two months before renewal.
• ATM Caution: Link a separate savings account for daily use to avoid dipping into the 800,000 THB.

 

Caveats

• Rate Changes: Promotional rates (e.g., 4.5%) may expire; standard rates are lower (~1–2%). Verify with each bank at the time you are considering deposit.
• Branch Variability: Immigration offices (e.g., Jomtien) accept fixed deposits, but confirm local rules.
• Alternatives: If rates drop, consider the 65,000 THB/month income method to avoid tying up funds, though this requires 12 months of statements.

 

Conclusion

 

The SCB 3-Month Fixed Deposit at 4.5% per annum is the best-paying Thai bank account for the 800,000 THB retirement extension requirement, offering an annualized return of 36,000 THB. It balances yield, compliance, and safety, with ttb as a close alternative. For maximum reliability, SCB’s scale and reputation make it the top choice (in my opinion) as of March 20, 2025.

 

Disclaimer: This is not financial advice; consult a professional and verify rates with banks. Data reflects trends up to March 20, 2025, and may shift.  Not immigration advice.  Not marital advice.  Not relationship advice.  Not life advice.  Returns and financials can change at any time. Do your own research 😀

Thanks for the excellent analysis and summary. 😊

[topt]

58 minutes ago, SupermaNZ said:

The SCB 3-Month Fixed Deposit at 4.5% per annum is the best-paying Thai bank account for the 800,000 THB retirement extension requirement, offering an annualized return (potentially tax assessable/ taxable) of 36,000 THB. It balances yield, compliance, and safety, with ttb as a close alternative. For maximum reliability, SCB’s scale and reputation make it the top choice (in my opinion) as of March 20, 2025.

Do you have a link to show that this is available?

 

I don't remember seeing any accounts from SCB paying this level of interest for a long time - not to say they haven't been offered. However looking through the SCB web site the max I came across was 2.05%.

 

Likewise Bangkok Bank where you can see historical rates as well as current - I couldn't see anything over 2+ %.....?

[nahkit]

On 3/17/2025 at 3:43 PM, DrJack54 said:

The 800k is deposited and withdrawn. 

The stamps issued at io discretion. 

The funds are not maintained in the bank. 

So refusing to issue extensions where funds have been in all year but the bank book was updated the day before the application, rather than on the same day is complete bs on the part of the io then?

[Lacrimas]

5 hours ago, SupermaNZ said:

 

To determine the best-paying Thai bank account for the 800,000 THB retirement extension funds deposit requirement, along with the highest interest return per annum as of March 20, 2025, it is necessary to consider the specific requirements of the Thai Retirement Visa (Non-Immigrant O-A or O Extension) and evaluate available bank account options. The retirement extension mandates that 800,000 THB be held in a Thai bank account for at least two months prior to the application and maintained at that level for three months post-approval, after which it can drop to 400,000 THB until two months before the next renewal. The account must be accessible to Thai Immigration for verification (typically via a bank statement or passbook), making fixed deposit accounts a popular choice due to their higher interest rates compared to regular savings accounts, while still meeting these criteria if structured correctly.

 

Key Considerations

• Eligibility: The account must be in the applicant’s name at a Thai commercial bank registered with the Bank of Thailand (BOT).
• Liquidity: Funds must be verifiable at all times during the initial three-month post-approval period, ruling out accounts with mandatory lock-ins exceeding this duration unless withdrawals are permitted with penalty.
• Interest Rates: Rates vary by bank, deposit term, and amount. For 800,000 THB, we’ll focus on terms of 3–12 months to align with visa rules, prioritizing the highest yield.
• Practicality: The account should allow easy updates (e.g., passbook) for Immigration and ideally offer ATM access for convenience, though some retirees limit this to avoid accidental withdrawals below the threshold.

 

Analysis of Thai Bank Options

 

Below is an evaluation of major Thai banks’ fixed deposit accounts suitable for the 800,000 THB requirement, based on the latest available data up to March 20, 2025. Interest rates reflect trends from late 2024 and early 2025, adjusted for the BOT’s key rate of 2.25% (lowered in October 2024), with some banks offering promotional rates.

 

1. Bangkok Bank (BBL)

• Account: 4-Month Fixed Deposit
  • Interest Rate: 4.35% per annum (promotional rate as of February 2025).
  • Minimum Deposit: 2,000 THB (800,000 THB qualifies).
  • Conditions: Interest paid at maturity. Early withdrawal within 3 months yields no interest; after 3 months, it reverts to savings rate (~0.6%). Auto-renews to a 3-month term unless specified otherwise.
  • Annual Return: 800,000 THB × 4.35% × (4/12) = ~11,600 THB (for 4 months); annualized ~34,800 THB if rolled over.
• Suitability: High rate, but the 4-month term requires planning to align with Immigration’s 3-month post-approval check. Passbook updates are straightforward at branches.
• Strengths: Largest bank, widely accepted by Immigration, extensive branch network.

 

2. Siam Commercial Bank (SCB)

• Account: 3-Month Fixed Deposit
  • Interest Rate: 4.5% per annum (updated late 2024).
  • Minimum Deposit: Typically 10,000 THB (800,000 THB exceeds this).
  • Conditions: Interest at maturity. No interest if withdrawn within 3 months; savings rate (~0.65%) thereafter. Flexible renewal options.
  • Annual Return: 800,000 THB × 4.5% × (3/12) = 9,000 THB (for 3 months); annualized ~36,000 THB.
• Suitability: Perfectly matches the 3-month post-approval period, ensuring funds remain intact and verifiable. Passbook or statement easily obtained.
• Strengths: High yield, aligns with visa timing, reliable for Immigration purposes.

 

3. Krung Thai Bank (KTB)

• Account: 4-Month Fixed Deposit
  • Interest Rate: 4.4% per annum (elevated since late 2023).
  • Minimum Deposit: 5,000 THB.
  • Conditions: Interest at maturity. Early withdrawal penalties similar to peers (no interest < 3 months, savings rate ~0.5% after).
  • Annual Return: 800,000 THB × 4.4% × (4/12) = ~11,733 THB (for 4 months); annualized ~35,200 THB.
• Suitability: Slightly longer than the 3-month requirement but manageable with timing. Government ownership adds stability.
• Strengths: Competitive rate, state-backed security, widely recognized by Immigration.

 

4. Kasikornbank (KBank)

• Account: 6-Month Fixed Deposit
  • Interest Rate: ~1.05% per annum (standard rate; promotional rates unlisted online, but assume ~4% possible based on market trends).
  • Minimum Deposit: 1,000 THB.
  • Conditions: Interest at maturity. Early withdrawal penalties apply (savings rate ~0.5% if after 3 months).
  • Annual Return: 800,000 THB × 4% × (6/12) = 16,000 THB (for 6 months); annualized ~32,000 THB.
• Suitability: Longer lock-in (6 months) exceeds the 3-month requirement, requiring careful renewal timing to avoid penalties during Immigration checks.
• Strengths: Strong digital banking, but rates lag unless promotions apply.

 

5. TMBThanachart Bank (ttb)

• Account: 3-Month Fixed Deposit
  • Interest Rate: 4.5% per annum (highest among ttb’s USD rates, assumed similar for THB based on 2024 trends).
  • Minimum Deposit: 10,000 THB.
  • Conditions: Interest at maturity. Standard penalties for early withdrawal.
  • Annual Return: 800,000 THB × 4.5% × (3/12) = 9,000 THB (for 3 months); annualized ~36,000 THB.
• Suitability: Matches the 3-month visa period perfectly, ensuring compliance and liquidity post-check.
• Strengths: Top-tier rate, smaller but growing bank, accepted by Immigration.

 

Savings Account Baseline

• Typical Rate: 0.5%–0.6% (e.g., Bangkok Bank savings at 0.6%, SCB at 0.65%).
• Annual Return: 800,000 THB × 0.6% = 4,800 THB.
• Suitability: Fully liquid and Immigration-compliant but offers minimal returns.

 

Best Option: SCB or ttb 3-Month Fixed Deposit

• Winner: Siam Commercial Bank (SCB) 3-Month Fixed Deposit and ttb 3-Month Fixed Deposit tie for the best-paying option at 4.5% per annum, yielding an annualized return of 36,000 THB on 800,000 THB.
• Why: 
  • Yield: Matches the highest rate among major banks for a term aligning with the visa’s 3-month post-approval requirement.
  • Compliance: Funds remain intact and verifiable during the critical period, with interest paid at maturity (after Immigration’s check), avoiding withdrawal issues.
  • Safety: SCB’s larger scale (market cap 350 billion THB, AAA local rating) edges out ttb’s smaller footprint (150 billion THB), but both are BOT-regulated and stable.
  • Practicality: SCB’s extensive branch network and passbook system are Immigration-friendly, while ttb offers similar ease with growing presence (e.g., Pattaya, Bangkok).
• Return: 36,000 THB per year is the highest practical return, assuming no early withdrawal. Longer terms (e.g., Bangkok Bank’s 7-month at 4.2%) yield slightly less annually (~33,600 THB) and complicate timing.

 

Practical Tips

• Open Early: Apply for the account upon arrival with a Non-Immigrant O visa (90-day validity), deposit 800,000 THB, and let it season for two months before the extension application.
• Documentation: Request a bank letter and updated passbook showing the balance and term start date for Immigration.
• Renewal Strategy: After the 3-month post-approval period, shift funds to a savings account (400,000 THB minimum) or reinvest in another fixed term, topping back to 800,000 THB two months before renewal.
• ATM Caution: Link a separate savings account for daily use to avoid dipping into the 800,000 THB.

 

Caveats

• Rate Changes: Promotional rates (e.g., 4.5%) may expire; standard rates are lower (~1–2%). Verify with each bank at the time you are considering deposit.
• Branch Variability: Immigration offices (e.g., Jomtien) accept fixed deposits, but confirm local rules.
• Alternatives: If rates drop, consider the 65,000 THB/month income method to avoid tying up funds, though this requires 12 months of statements.

 

Conclusion

 

The SCB 3-Month Fixed Deposit at 4.5% per annum is the best-paying Thai bank account for the 800,000 THB retirement extension requirement, offering an annualized return (potentially tax assessable/ taxable) of 36,000 THB. It balances yield, compliance, and safety, with ttb as a close alternative. For maximum reliability, SCB’s scale and reputation make it the top choice (in my opinion) as of March 20, 2025.

 

Disclaimer: This is not financial advice; consult a professional and verify rates with banks. Data reflects trends up to March 20, 2025, and may shift.  Not immigration advice.  Not marital advice.  Not relationship advice.  Not life advice.  Returns and financials can change at any time. Do your own research 😀

 

what AI didn't tell you, because this is not from your own experience but just a lazy copy pasted response, is that these deposits are in USD! You take your money to the bank, they do convert yout THB to USD with a rate in their favor (you already lose %) and after three months they convert the money back to THB. This means that if the USD tanked you lose money! They are investments in US bonds and involve currency risk! Also, I don't think a non Thai can open these. 

[Lacrimas]

4 hours ago, topt said:

Do you have a link to show that this is available?

 

I don't remember seeing any accounts from SCB paying this level of interest for a long time - not to say they haven't been offered. However looking through the SCB web site the max I came across was 2.05%.

 

Likewise Bangkok Bank where you can see historical rates as well as current - I couldn't see anything over 2+ %.....?

exactly, they are not normal accounts, they involve an investment in US bonds.

[Mindful Spender]

On 3/17/2025 at 6:05 PM, Celsius said:

SCB pays over 8% and I still wouldn't do it.

 

That 800k condo will be rented out to cambodian slave labor or Thais. Good luck collecting.

bull <deleted>, even when you use an agency you can view their (copy) passport first

 

why can not use the English word for "poep"?
it is just a normal word, or is it to protect snowflakes here?

[Celsius]

11 minutes ago, Mindful Spender said:

bull <deleted>, even when you use an agency you can view their (copy) passport first

 

why can not use the English word for "poep"?
it is just a normal word, or is it to protect snowflakes here?

 

You are crying about being censored and you call others snowflake?

[oceanbluejewell]

15 hours ago, SupermaNZ said:

 

To determine the best-paying Thai bank account for the 800,000 THB retirement extension funds deposit requirement, along with the highest interest return per annum as of March 20, 2025, it is necessary to consider the specific requirements of the Thai Retirement Visa (Non-Immigrant O-A or O Extension) and evaluate available bank account options. The retirement extension mandates that 800,000 THB be held in a Thai bank account for at least two months prior to the application and maintained at that level for three months post-approval, after which it can drop to 400,000 THB until two months before the next renewal. The account must be accessible to Thai Immigration for verification (typically via a bank statement or passbook), making fixed deposit accounts a popular choice due to their higher interest rates compared to regular savings accounts, while still meeting these criteria if structured correctly.

 

Key Considerations

• Eligibility: The account must be in the applicant’s name at a Thai commercial bank registered with the Bank of Thailand (BOT).
• Liquidity: Funds must be verifiable at all times during the initial three-month post-approval period, ruling out accounts with mandatory lock-ins exceeding this duration unless withdrawals are permitted with penalty.
• Interest Rates: Rates vary by bank, deposit term, and amount. For 800,000 THB, we’ll focus on terms of 3–12 months to align with visa rules, prioritizing the highest yield.
• Practicality: The account should allow easy updates (e.g., passbook) for Immigration and ideally offer ATM access for convenience, though some retirees limit this to avoid accidental withdrawals below the threshold.

 

Analysis of Thai Bank Options

 

Below is an evaluation of major Thai banks’ fixed deposit accounts suitable for the 800,000 THB requirement, based on the latest available data up to March 20, 2025. Interest rates reflect trends from late 2024 and early 2025, adjusted for the BOT’s key rate of 2.25% (lowered in October 2024), with some banks offering promotional rates.

 

1. Bangkok Bank (BBL)

• Account: 4-Month Fixed Deposit
  • Interest Rate: 4.35% per annum (promotional rate as of February 2025).
  • Minimum Deposit: 2,000 THB (800,000 THB qualifies).
  • Conditions: Interest paid at maturity. Early withdrawal within 3 months yields no interest; after 3 months, it reverts to savings rate (~0.6%). Auto-renews to a 3-month term unless specified otherwise.
  • Annual Return: 800,000 THB × 4.35% × (4/12) = ~11,600 THB (for 4 months); annualized ~34,800 THB if rolled over.
• Suitability: High rate, but the 4-month term requires planning to align with Immigration’s 3-month post-approval check. Passbook updates are straightforward at branches.
• Strengths: Largest bank, widely accepted by Immigration, extensive branch network.

 

2. Siam Commercial Bank (SCB)

• Account: 3-Month Fixed Deposit
  • Interest Rate: 4.5% per annum (updated late 2024).
  • Minimum Deposit: Typically 10,000 THB (800,000 THB exceeds this).
  • Conditions: Interest at maturity. No interest if withdrawn within 3 months; savings rate (~0.65%) thereafter. Flexible renewal options.
  • Annual Return: 800,000 THB × 4.5% × (3/12) = 9,000 THB (for 3 months); annualized ~36,000 THB.
• Suitability: Perfectly matches the 3-month post-approval period, ensuring funds remain intact and verifiable. Passbook or statement easily obtained.
• Strengths: High yield, aligns with visa timing, reliable for Immigration purposes.

 

3. Krung Thai Bank (KTB)

• Account: 4-Month Fixed Deposit
  • Interest Rate: 4.4% per annum (elevated since late 2023).
  • Minimum Deposit: 5,000 THB.
  • Conditions: Interest at maturity. Early withdrawal penalties similar to peers (no interest < 3 months, savings rate ~0.5% after).
  • Annual Return: 800,000 THB × 4.4% × (4/12) = ~11,733 THB (for 4 months); annualized ~35,200 THB.
• Suitability: Slightly longer than the 3-month requirement but manageable with timing. Government ownership adds stability.
• Strengths: Competitive rate, state-backed security, widely recognized by Immigration.

 

4. Kasikornbank (KBank)

• Account: 6-Month Fixed Deposit
  • Interest Rate: ~1.05% per annum (standard rate; promotional rates unlisted online, but assume ~4% possible based on market trends).
  • Minimum Deposit: 1,000 THB.
  • Conditions: Interest at maturity. Early withdrawal penalties apply (savings rate ~0.5% if after 3 months).
  • Annual Return: 800,000 THB × 4% × (6/12) = 16,000 THB (for 6 months); annualized ~32,000 THB.
• Suitability: Longer lock-in (6 months) exceeds the 3-month requirement, requiring careful renewal timing to avoid penalties during Immigration checks.
• Strengths: Strong digital banking, but rates lag unless promotions apply.

 

5. TMBThanachart Bank (ttb)

• Account: 3-Month Fixed Deposit
  • Interest Rate: 4.5% per annum (highest among ttb’s USD rates, assumed similar for THB based on 2024 trends).
  • Minimum Deposit: 10,000 THB.
  • Conditions: Interest at maturity. Standard penalties for early withdrawal.
  • Annual Return: 800,000 THB × 4.5% × (3/12) = 9,000 THB (for 3 months); annualized ~36,000 THB.
• Suitability: Matches the 3-month visa period perfectly, ensuring compliance and liquidity post-check.
• Strengths: Top-tier rate, smaller but growing bank, accepted by Immigration.

 

Savings Account Baseline

• Typical Rate: 0.5%–0.6% (e.g., Bangkok Bank savings at 0.6%, SCB at 0.65%).
• Annual Return: 800,000 THB × 0.6% = 4,800 THB.
• Suitability: Fully liquid and Immigration-compliant but offers minimal returns.

 

Best Option: SCB or ttb 3-Month Fixed Deposit

• Winner: Siam Commercial Bank (SCB) 3-Month Fixed Deposit and ttb 3-Month Fixed Deposit tie for the best-paying option at 4.5% per annum, yielding an annualized return of 36,000 THB on 800,000 THB.
• Why: 
  • Yield: Matches the highest rate among major banks for a term aligning with the visa’s 3-month post-approval requirement.
  • Compliance: Funds remain intact and verifiable during the critical period, with interest paid at maturity (after Immigration’s check), avoiding withdrawal issues.
  • Safety: SCB’s larger scale (market cap 350 billion THB, AAA local rating) edges out ttb’s smaller footprint (150 billion THB), but both are BOT-regulated and stable.
  • Practicality: SCB’s extensive branch network and passbook system are Immigration-friendly, while ttb offers similar ease with growing presence (e.g., Pattaya, Bangkok).
• Return: 36,000 THB per year is the highest practical return, assuming no early withdrawal. Longer terms (e.g., Bangkok Bank’s 7-month at 4.2%) yield slightly less annually (~33,600 THB) and complicate timing.

 

Practical Tips

• Open Early: Apply for the account upon arrival with a Non-Immigrant O visa (90-day validity), deposit 800,000 THB, and let it season for two months before the extension application.
• Documentation: Request a bank letter and updated passbook showing the balance and term start date for Immigration.
• Renewal Strategy: After the 3-month post-approval period, shift funds to a savings account (400,000 THB minimum) or reinvest in another fixed term, topping back to 800,000 THB two months before renewal.
• ATM Caution: Link a separate savings account for daily use to avoid dipping into the 800,000 THB.

 

Caveats

• Rate Changes: Promotional rates (e.g., 4.5%) may expire; standard rates are lower (~1–2%). Verify with each bank at the time you are considering deposit.
• Branch Variability: Immigration offices (e.g., Jomtien) accept fixed deposits, but confirm local rules.
• Alternatives: If rates drop, consider the 65,000 THB/month income method to avoid tying up funds, though this requires 12 months of statements.

 

Conclusion

 

The SCB 3-Month Fixed Deposit at 4.5% per annum is the best-paying Thai bank account for the 800,000 THB retirement extension requirement, offering an annualized return (potentially tax assessable/ taxable) of 36,000 THB. It balances yield, compliance, and safety, with ttb as a close alternative. For maximum reliability, SCB’s scale and reputation make it the top choice (in my opinion) as of March 20, 2025.

 

Disclaimer: This is not financial advice; consult a professional and verify rates with banks. Data reflects trends up to March 20, 2025, and may shift.  Not immigration advice.  Not marital advice.  Not relationship advice.  Not life advice.  Returns and financials can change at any time. Do your own research 😀

Hello SupermaNZ

Can you provide links to the products you mention. Especially the Bangkok Bank and SCB. I'm not seeing this available as you describe.

Thank you.

[bravo19]

A condo for 800k THB? What kind of toilet is that?😀

[quake]

1 hour ago, bravo19 said:

A condo for 800k THB? What kind of toilet is that?😀

 

A small one.

[Packer]

5 hours ago, oceanbluejewell said:

Hello SupermaNZ

Can you provide links to the products you mention. Especially the Bangkok Bank and SCB. I'm not seeing this available as you describe.

Thank you.

 

Thanks. This is very small on my screen, but I think I see 1.45% for 12 months fixed.

 

11,600

-1,900 extension fee

 

9,700.

 

Has anybody experience of investing 800,000 with Aberdeen?

 

 

[Lacrimas]

1 hour ago, Packer said:

 

Thanks. This is very small on my screen, but I think I see 1.45% for 12 months fixed.

 

11,600

-1,900 extension fee

 

9,700.

 

Has anybody experience of investing 800,000 with Aberdeen?

 

 

Maybe post what Aberdeen offers and we can evaluate it together 

[SupermaNZ]

On 3/21/2025 at 8:56 AM, oceanbluejewell said:

Hello SupermaNZ

Can you provide links to the products you mention. Especially the Bangkok Bank and SCB. I'm not seeing this available as you describe.

Thank you.

 

21 hours ago, Packer said:

 

Thanks. This is very small on my screen, but I think I see 1.45% for 12 months fixed.

 

11,600

-1,900 extension fee

 

9,700.

 

Has anybody experience of investing 800,000 with Aberdeen?

 

 

Sadly, I am not a bank.  The best thing to do is to pop in and visit BKK Bank/ SCB and talk with them.  Some of the rates that I mentioned were expressly noted as being 'Promotions'.  They are not there all of the time.  There are 'special' savings rates from time-to-time (see, for example https://www.scb.co.th/getmedia/6d001fa8-29da-4773-9e77-1b7637d7d69d/td-bonus-24months-en.pdf). Much of the material online is in the Thai language - and even when in English - may not be entirely up-to-date.  Many previous references to special rates now, when searched, lead to '404 Error - Page Not Found' issues.The easiest option is to personally speak with a representative of the bank that you are interested in exploring options with (and ask if promotions/ specials are due for release in the immediate future).  The overview that I provided was to provide a broad context.

 

The relative strengths of Thai banks can be assessed by simply using Yahoo Finance (see, for example 

https://finance.yahoo.com/quote/SCB.BK/?guccounter=1&guce_referrer=aHR0cHM6Ly9hc2Vhbm5vdy5jb20v&guce_referrer_sig=AQAAALVM3WEvSHBQ4346A8I2toX-LmBw7m5afSIkRCxZpCoZCkuEZUhTuCOCjteK0-9KkLCuNJysBILkEu7xNEF7xYQZywIsSrapRkzRKCoPKQxWx6TyHYZfyMEZmKtoWPyyXXH6_Ch0T8l_9oYn8JcawKuSfb9FwLabMVMXKAN1voFp).

 

As I suggested - DYOR 😀

[WorriedNoodle]

On 3/17/2025 at 4:24 PM, henryford1958 said:

 

It's illegal, good luck with that

Since when has the immigration officer granting the extension at their discretion been illegal?

[SupermaNZ]

Helpful Tip: This is a very handy (first cut) summary of bank deposit rates for all banks operating in Thailand.  It is put out (daily, the the applicable rates being for the previous day) by the Bank of Thailand.  Note that whichever bank you choose - it needs to conform with Thai Immigration requirements as to the approved banks in which to hold your Visa-supporting funds: https://www.bot.or.th/en/statistics/interest-rate.html

[SupermaNZ]

[SupermaNZ]

On 3/20/2025 at 10:30 PM, Lacrimas said:

 

what AI didn't tell you, because this is not from your own experience but just a lazy copy pasted response, is that these deposits are in USD! You take your money to the bank, they do convert yout THB to USD with a rate in their favor (you already lose %) and after three months they convert the money back to THB. This means that if the USD tanked you lose money! They are investments in US bonds and involve currency risk! Also, I don't think a non Thai can open these. 

Indeed.  I am an abjectly lazy, useless individual.  Thank you for alerting me to this.  Without doubt, the best course would be for me to not contribute anything of any kind to this site.  The community will be so much better for it.  My apologies once again for my worthlessness.  I am so sorry to have caused such distress for you.  It was selfish of me.  Thank you once again for your kindness in assisting me to understand the depth of my shortcomings (which are many - too numerous to make a full accounting). Have a lovely day 😀

[topt]

1 hour ago, SupermaNZ said:

Without doubt, the best course would be for me to not contribute anything of any kind to this site.

Yes well anybody suggesting any of the banks here have had an interest rate on a "savings" account acceptable to Immigration anywhere close to 8% in recent memory either doesn't live here or didn't engage their brain first.

Personally I am disappointed in myself that I was so polite in my first reply to you.........

[gamb00ler]

On 3/17/2025 at 4:48 PM, UWEB said:

Minus 15% Taxes the Bank will withhold from your Interest. Other options minus Taxes you have to pay.

You don't have to surrender that 15%.  You can claim it back by filing Thai taxes or some banks will cooperate and stop withholding when you get a Thai tax ID (as I have done).  We currently only remit a portion of our non-assessable pension income so no other Thai tax obligation.

[SupermaNZ]

4 hours ago, topt said:

Yes well anybody suggesting any of the banks here have had an interest rate on a "savings" account acceptable to Immigration anywhere close to 8% in recent memory either doesn't live here or didn't engage their brain first.

Personally I am disappointed in myself that I was so polite in my first reply to you.........

The reference to 8+% returns was in relation to dividends paid as a result of owning SCB stock.  You seem like a lovely person.  But I'm afraid I must dash ..... 

[proton]

On 3/20/2025 at 1:36 PM, FlorC said:

Sounds pretty illegal and money under the table.

Not sure this would fly in smaller provinces' I.O.

 

 

Of course it is, it's called corruption and more illegal when agents are getting extensions from a province you do not live in. Will they ever stop it? probably eventually. Smaller provinces seem to be used more for this.

[proton]

8 hours ago, WorriedNoodle said:

Since when has the immigration officer granting the extension at their discretion been illegal?

 

When they only do it if paid, if legal why not cut out the agent and just go in and give the IO the 'present'?