Using Fixed Deposit For Retirement Extension

[MeaMaximaCulpa]

27 minutes ago, Liquorice said:

I'm not insulted at all, but we are talking at crossed purposes.

My original reply to OJAS was in relation to his question regarding the below topic and BKK locking funds.

Locking funds because you have been issued a credit card against the funds is a totally different topic.

 

 

OK, my bad.

Sorry

[JimMorris]

On 8/13/2025 at 10:54 PM, Liquorice said:

I think there was a misunderstanding, lost in translation, in this matter.

• Upon the due date, customer may opt to transfer the total deposit amount and interest to savings or current account. If the customer does not contact the Bank, the system will continue the deposit with the compounded interest.

https://www.uob.co.th/personal-en/deposits/fixed-deposit/uob-fixed-deposit-account.page

 

If the bank cannot update the passbook as you state, then additionally request a 12 month bank statement.

As standard, I always supply updated passbook, bank statement and letter.

 

 

Thanks for that. I actually caught that on the website myself after I had already made my post above. The bank also told me that at maturity the fixed deposit auto renews for the same term period but at the prevailing rate. You can withdraw anytime after maturity. Withdrawing within three months of the new term earns no interest, but after three months you will at least get the savings account interest rate on the accrued amount.

 

Anyway, that is one problem solved. I had been worried that the money would be withdrawn from the fixed deposit account upon maturity, sent back to my savings account, and cause all the money to leave the fixed deposit account, thus causing a disruption with my visa. This was based on what the other guy at the UOB branch had told me. Thankfully, that is not the case.

 

I normally also supply an updated passbook, bank statement, and letter with my savings account. With the fixed deposit account though, it seems an updated passbook will not be possible.

 

 

 

[JimMorris]

I have now changed my fixed deposit account to pay monthly interest instead of paying only once at the end of the term. The interest payments will now be automatically deposited each month into my linked savings account. I can update the fixed deposit passbook each month to show the monthly interest entries, but it will likely not change the displayed account balance in the fixed deposit account since the interest is not deposited back into that account and goes into the savings account instead. Therefore, it probably cannot be used for immigration purposes to show a recent account balance update on the fixed deposit passbook.

 

Since the minimum deposit for adding money to the fixed deposit account is 5,000 Baht, I also deposited an extra 5,000 Baht into the account as a test to see how that works. It appears on a separate page in the fixed deposit passbook without affecting the main deposit balance, so it is like having two separate balances in the passbook, although the mobile app still shows a combined total balance for all deposits in the account. This means that even depositing more money into the account on the day I extend my visa would not allow me to show an updated account balance in the passbook.

 

I suppose one could withdraw some money from the fixed deposit on the date of the visa extension to update the passbook balance that way, but I believe that withdrawing any money voids the fixed deposit interest rate. The funds would remain there in the account, but the interest rate would drop to the regular savings account rate, which defeats the whole purpose of having a fixed deposit account.

[oldcpu]

On 8/13/2025 at 10:16 AM, oldcpu said:

 

I used the 800k in the bank method. with a fixed deposit account,  first with a Type-OA (1 year permission to stay extensions) and later with a Type-O visa, with no issues, when going for my 1 year extensions at Phuket immigration from 2020 to 2022 time frames. 

 

I went for 1 year extensions in 2020, 2021, and 2022 at Phuket Immigration. I never added any extra money into my fixed account with 800k THB. But for me if i went to the Bank Counter the same day I was go to immigration, the bank teller could force an extra line into the Bank Book (with unchanged amount from previous months old line) showing the identical amount but the current day date. That was with Bangkok Bank and i believe also Krungsri bank. So I did not have to deposit money to have the bank book have the current date showing.

 

Also, thinking about this, in one of those 3 years when they saw my 800k in the bank in a fixed deposit account (with no regular transactions nor any transactions on the days prior to going to the immigration office, only a current day stamp (and some old interest stamps)),   the IO asked, where do I get the money for my day to day living.?

 

i use another bank account for that (which happens to have > 800k THB - but i think the amount in that second bank book irrelevant) and I also had that second bank book updated and with me, and I showed that second bankbook to the IO. It had many many many transactions.

 

They looked at the 2nd bank book, handed it back to me, but did not ask for copies or anything. They then accepted my 800k fixed deposit from the first account (with bank certification letter and all the appropriate copies) where that 800k has been there since early-2019 (with interest being the only transactions). The 1 year extension on the non-immigrant visa (type-O or OA at the time - i can't recall which at that time) was accepted.

 

I note that was only for one of the three years i went for the 1 year extension. This question (where does my money come from for my expenses) was not asked in the other 2 years. I think it was just the IO being curious, and using their discretionary powers.

.

[JimMorris]

2 minutes ago, oldcpu said:

Also, thinking about this, in one of those 3 years when they saw my 800k in the bank in a fixed deposit account (with no regular transactions nor any transactions on the days prior to going to the immigration office, only a current day stamp (and some old interest stamps)),   the IO asked, where do I get the money for my day to day living.?

 

Surprised the even asked that question. I would say at least 50% of retirees put the 800K in an account and never touch it, based on what I have read from others on this forum. So what you are doing is quite normal and shouldn't raise any red flags. 

[DrJack54]

22 minutes ago, JimMorris said:

Surprised the even asked that question.

Already mentioned in the thread. 

The io is a dill. He asked a silly question. 

 

FD account or savings account makes zero difference to financial compliance. 

Every expat using a dedicated FD or savings account for immigration purposes would also have another bank account. Obviously savings. 

 

IMO threads about FD v savings really belongs in banking finance forum. 

So many similar threads about nothing really. 

 

[arick]

Can't you use any account even a fixed income fund!  Krung Thai fixed income fund 1 year is @5.2% the bank provides you with a passbook and a letter of  I've guaranteed funds to show immigration. 

Anybody with experience doing it I'm doing it.

[arick]

On 8/13/2025 at 8:18 AM, NE1 said:

 

I wasn't aware of that , I thought you could use any account as long as it is in your name only and you didn't go below the required 800,000 / 400,000 .

 

11 hours ago, oldcpu said:

 

I went for 1 year extensions in 2020, 2021, and 2022 at Phuket Immigration. I never added any extra money into my fixed account with 800k THB. But for me if i went to the Bank Counter the same day I was go to immigration, the bank teller could force an extra line into the Bank Book (with unchanged amount from previous months old line) showing the identical amount but the current day date. That was with Bangkok Bank and i believe also Krungsri bank. So I did not have to deposit money to have the bank book have the current date showing.

 

Also, thinking about this, in one of those 3 years when they saw my 800k in the bank in a fixed deposit account (with no regular transactions nor any transactions on the days prior to going to the immigration office, only a current day stamp (and some old interest stamps)),   the IO asked, where do I get the money for my day to day living.?

 

i use another bank account for that (which happens to have > 800k THB - but i think the amount in that second bank book irrelevant) and I also had that second bank book updated and with me, and I showed that second bankbook to the IO. It had many many many transactions.

 

They looked at the 2nd bank book, handed it back to me, but did not ask for copies or anything. They then accepted my 800k fixed deposit from the first account (with bank certification letter and all the appropriate copies) where that 800k has been there since early-2019 (with interest being the only transactions). The 1 year extension on the non-immigrant visa (type-O or OA at the time - i can't recall which at that time) was accepted.

 

I note that was only for one of the three years i went for the 1 year extension. This question (where does my money come from for my expenses) was not asked in the other 2 years. I think it was just the IO being curious, and using their discretionary powers.

.

It should be anything from the bank funds mutual funds accounts long as you can provide a passbook and a bank letter guarantee.

[Liquorice]

14 hours ago, oldcpu said:

Also, thinking about this, in one of those 3 years when they saw my 800k in the bank in a fixed deposit account (with no regular transactions nor any transactions on the days prior to going to the immigration office, only a current day stamp (and some old interest stamps)),   the IO asked, where do I get the money for my day to day living.?

I was asked the same question some years ago.

Since then, I've had the bank detail both my FTD and Savings accounts on the letter for Immigration, but only supply an updated passbook and statement for the FTD account. It merely saves them for inquiring again.

[Sophon]

On 8/14/2025 at 1:19 PM, Liquorice said:

Yes, Bangkok bank and I am not wrong.

You can withdraw funds at any point during the fixed term period, but lose some of interest.

Of course if they issued a credit card against the balance of that account it's a different matter, but credit cards were not the topic of discussion.

 

With Bangkok bank, if a FTD account reaches the term of the agreed period, the funds remain in that account but reverts to the same interest rate as that of a Savings account, so important when due to 'roll' it over into another fixed term to obtain the better interest rate.

 

Your second paragraph is not correct. If e.g. you have a one year fixed deposit with Bangkok Bank, and you do not withdraw the money at maturity, then Bangkok Bank will automatically roll it over into a new one year fixed deposit at whatever the fixed deposit rate is for one year at that time.

 

From Bangkok Bank's terms and conditions for fixed deposits (Google translated):

Quote

9.1 For accounts in which the account owner does not withdraw the deposit at the end of the deposit period, it shall be deemed that the account owner
wishes to continue depositing the money in the same account, under the same deposit type and period and at the interest rate
determined by the Bank on the new deposit date. Unless the Bank notifies the account owner otherwise, it shall be deemed that the
Bank agrees to continue accepting the deposit. This
practice shall be applied each time the deposit matures

 

For special fixed deposits of irregular length (e.g. 5 months), the banks handles it a little differently. The last time I had such a deposit with Bangkok Bank, deposit plus interest was automatically transferred to my savings account (similar to what another poster mentioned above). When my 7 month fixed deposit with Krungsri Bank expired last month, it was automatically rolled over into a 3 month fixed deposit. I am not sure what Bangkok Bank's current policy is on this.

[Liquorice]

2 hours ago, Sophon said:

Your second paragraph is not correct. If e.g. you have a one year fixed deposit with Bangkok Bank, and you do not withdraw the money at maturity, then Bangkok Bank will automatically roll it over into a new one year fixed deposit at whatever the fixed deposit rate is for one year at that time.

 

From Bangkok Bank's terms and conditions for fixed deposits (Google translated):

Quote

9.1 For accounts in which the account owner does not withdraw the deposit at the end of the deposit period, it shall be deemed that the account owner
wishes to continue depositing the money in the same account, under the same deposit type and period and at the interest rate
determined by the Bank on the new deposit date. Unless the Bank notifies the account owner otherwise, it shall be deemed that the
Bank agrees to continue accepting the deposit. This
practice shall be applied each time the deposit matures

 

 

"and at the interest rate determined by the bank on the new deposit date"

 

I was informed the rate would defer to the rate of a Savings account, unless I rolled it over to a new term on the maturity date.

[jeffandgop]

15 hours ago, Liquorice said:

"and at the interest rate determined by the bank on the new deposit date"

 

I was informed the rate would defer to the rate of a Savings account, unless I rolled it over to a new term on the maturity date.

I have had a fix deposit w/Bangkok Bank for many years with a 6 month term.  It always rolls over to renew for the same term at the rate effective that day for fix deposits.

[WDSmart]

I have an O visa and extend my stay every year based on monthly deposits of at least THB 65K. At my Immigration Office (Phetchabun), they don't have to be "fixed" deposits. They just have to be made monthly of at least THB 65K. 

And yes, as proof, you need to give your Immigration office "a bank letter and the original fixed deposit passbook with a photocopy," and also printed copies of your account transactions for the past 12 months. And, you must make a local deposit (of any amount, like THB 100) on that day before the copies are made; all the copies have to be done on the day you go to Immigration.

At least that's what they require in Phetchabun. I've done this for the past four years. 

[DrJack54]

6 minutes ago, WDSmart said:

I have an O visa and extend my stay every year based on monthly deposits of at least THB 65K. At my Immigration Office (Phetchabun), they don't have to be "fixed" deposits. They just have to be made monthly of at least THB 65K.

You are using income method to satisfy financial requirements. 

That has nothing to do with the thread which concerns "money in bank method"

[Kerryd]

For 13 years now I have used a Fixed Term account to hold my "Extension" money.

The day before I plan on submitting my Extension application I go to the bank, get my "bank letter" and update my passbook. The update shows the last interest payment made and the current balance. No need to do any transactions.
(This is at Jomtien.)
The only requirement is that the bank letter and bank book have to be done within 3 days of submitting the Extension application.

The only time you need to photocopy additional bank pages (if you are doing the "800k in an account" method) is if the current bankbook page doesn't show the account balance for the (full) previous year.
In which case - assuming you weren't trying to scam Immigration - you simply photocopied the previous page and submitted that with your application. Had to do that once.
And once I had to go home and get my previous bank book because when I went to do the update I was out of pages and had to get a new book - which didn't show the balance for the previous year of course.

The rule about accounts is - the money has to be accessible "on demand". As in, you need to be able to go into the bank and take the cash out immediately if needed. You can do that with a Savings, Fixed Term or Foreign Currency Deposit (FCD) account. 

But NOT with "investments" and "RRSPs" and "401ks" which is why they are NOT acceptable.

I'd love to be able to use some of my long-term GAIN investments as my "proof of finances" but the problem is - if I needed that money in a hurry (i.e. because of an accident or whatever) - I couldn't just walk into the bank and cash out the investment. It could take a week or more for them to calculate the current value of the investment, close it out and deposit the money into my account.

And some people would try to scam Immigration by trying to claim the "end value" of the investment equals the financial requirement of the Extension - even if that "end value" won't be realized until 10+ years down the road.

But many of those investments do not pay out the full amount if you close it out early. And of course - the money isn't immediately available if it was needed.

And that is what a lot of scammers are hoping. For a way they can pretend they have the money to meet the requirement when they actually don't, by pretended they have "millions" in investments "back home" - yadda yadda yadda.

Originally, the money was what Immigration had calculated (based on what they estimated the average "2 week millionaire" spent on his vacation) a foreigner would need to live for a full year in Thailand. (And the joke was - if you were married they figured you could live on half that amount because you wouldn't be in the bars every night and eating in restaurants everyday.)

They expected you to show that you had the money and were actually using it to live on. Hence the requirement to show "transactions" on the account. I remember the first time I submitted an Extension application and the Immigration guy questioned me about it and I showed him I had a separate (Savings) account that I used for my living expenses. After that, they never questioned using a Fixed Term account as my "proof of finances".

But as always - each Immigration office can have it's own rules about what they are willing to accept as proof of your finances. And those can change every time they get a new boss who decides he wants things done differently.
 

[TaoNow]

As I understand it, the 800K baht and 65K baht/month amounts are somewhat arbitrary amounts to show that the applicant has significant financial resources.

 

Apparently, in the past, some ex-pats on retirement extensions left the country (not to return) with outstanding medical or legal (or other) financial obligations to Thai entities.  So, Immo wants some sort of advance guarantee that the ex-pat seeking a retirement extension has the financial security to cover unexpectedly large claims.

 

Thus, the amount is not to check that the ex-pat is spending 65K baht a month or more.  In fact, in decades of doing these extensions (at Immo/CW) they have never checked or asked how much I spend per month, or from what account I cover daily/monthly expenses.  Other Immo offices may do that, but it is nonsense.

 

My final observation on this issue is this:  If you have a problem holding 20-25,000 euro or USD in a Thai bank as a form of "bond" or guarantee for living in Thailand for 12 months at a time, then you cannot afford to retire here.