I use both scb and kasikorn for banking in thailand and it looks like scb dont deduct tax on interest(scb e saving 1,5%) while kasikorn deduct tax on the same saving account 1,5 % interest. The amount is similar in both accounts. Anyone with similar experience? What bank do you use and do they deduct tax?

When I opened my SCB EZ Savings, the staff couldn’t complete the setup. I asked if having a Thai tax ID would help. They said yes so I went to TRD the next day and got my tax ID and then the bank staff finished creating my account. I’ve never had tax withheld from SCB account. After getting my tax ID I went to Kasikorn and BBL bank and asked that they stop withholding. Both stopped the withholding.

SCB has recently lowered their rate to 1.25% on the EZ account.

4 hours ago, gamb00ler said:

When I opened my SCB EZ Savings, the staff couldn’t complete the setup. I asked if having a Thai tax ID would help. They said yes so I went to TRD the next day and got my tax ID and then the bank staff finished creating my account. I’ve never had tax withheld from SCB account. After getting my tax ID I went to Kasikorn and BBL bank and asked that they stop withholding. Both stopped the withholding.

SCB has recently lowered their rate to 1.25% on the EZ account.

Very good info,Thank you!

I have accounts with about every bank in Thailand for years already.

In the beginning Bangkok Bank, SCB,CIMB and krungsri would not deduct withholding tax. UOB, Kasikorn, LH Bank and TTB always deducted withholding taxes.

After a few years that changed, because they say they were informed by the Thai revenue department that the total of my interests would exceed 20.000 baht. Now they all deduct the withholding tax, and at the start of the new year I get my documents from each bank, and claim it all back from the revenue department

The only banks I'm aware of that have no taxes on interests are GSB and GHB. The first one pays cvery little interest lately, so my accounts are at zero, and the latter I was never able to open an account

Edited August 23Aug 23 by CallumWK

4 hours ago, CallumWK said:

I have accounts with about every bank in Thailand for years already.

In the beginning Bangkok Bank, SCB,CIMB and krungsri would not deduct withholding tax. UOB, Kasikorn, LH Bank and TTB always deducted withholding taxes.

After a few years that changed, because they say they were informed by the Thai revenue department that the total of my interests would exceed 20.000 baht. Now they all deduct the withholding tax, and at the start of the new year I get my documents from each bank, and claim it all back from the revenue department

The only banks I'm aware of that have no taxes on interests are GSB and GHB. The first one pays cvery little interest lately, so my accounts are at zero, and the latter I was never able to open an account

I have a Thai TIN listed on my UOB account. If I submit a request to them, will they stop withholding tax on the interest earned on my account?

There is very little interest earned these days anyway because the interest rate has fallen so low in the last couple of years, but it would be good to stop the tax withholdings, if it is at all possible. Thank you.

13 minutes ago, ONIB said:

I have a Thai TIN listed on my UOB account. If I submit a request to them, will they stop withholding tax on the interest earned on my account?

There is very little interest earned these days anyway because the interest rate has fallen so low in the last couple of years, but it would be good to stop the tax withholdings, if it is at all possible. Thank you.

I was once told that if you choose not to pay withholding tax on dividends or interest you would have to declare this as untaxed income. It might however depend on the amount.

SCB EZ may not take 15% withholding tax from say January until May, then take out 15% of what was earned from January in the month of June, then the rest of the year tax month by month...

3 hours ago, JWNZ said:

SCB EZ may not take 15% withholding tax from say January until May, then take out 15% of what was earned from January in the month of June, then the rest of the year tax month by month...

SCB switched to paying interest every month in Oct '23. Before that it was as in other Thai banks... June and December payouts. For me.. no withholding ever done.

Since I gave them my Thai tax ID at EZ account opening and also requested they not do withholding.... I've never had the 15% withholding done.

On 8/23/2026 at 7:49 PM, msbkk said:

I was once told that if you choose not to pay withholding tax on dividends or interest you would have to declare this as untaxed income. It might however depend on the amount.

It is slightly more complicated than you write.

Quote from https://www.luther-lawfirm.com/en/newsroom/newsletter/detail/memo-taxation-in-thailand :

1. Interest

Interest income which has been subject to 15% withholding tax (WHT) at source may, at the taxpayer’s option, either:

• Be included in the PIT return (with the 15% tax treated as a credit against the final PIT liability); or

• Be treated as subject to a final WHT, in which case the income is excluded from the PIT computation.

In addition, certain interest income of individuals is fully exempt from PIT if specific thresholds and holding periods are respected, e.g. small amounts of savings deposit interest, qualifying fixed deposits held for a minimum period and cer‑tain recurring deposit accounts:

• Interest on savings deposits with commercial banks, pro‑vided the total interest received during a tax year does not exceed THB 20,000.

• Interest on fixed deposits with banks in Thailand held for at least one year, where the taxpayer is at least 55 years old at the time of receipt and the aggregate interest from all such deposits does not exceed THB 30,000 in the year.

• Interest on monthly recurring fixed deposit accounts with banks in Thailand, provided the account is maintained for at least 24 months and the same amount (not exceeding THB 25,000) is deposited each month.

On 8/23/2026 at 7:34 PM, ONIB said:

I have a Thai TIN listed on my UOB account. If I submit a request to them, will they stop withholding tax on the interest earned on my account?

As I said, it worked perfectly in my case... but other posters have not been successful in getting Thai banks to stop the withholding after provision of their Thai tax ID.

5 hours ago, gamb00ler said:

SCB switched to paying interest every month in Oct '23. Before that it was as in other Thai banks... June and December payouts. For me.. no withholding ever done.

Since I gave them my Thai tax ID at EZ account opening and also requested they not do withholding.... I've never had the 15% withholding done.

I'm still getting monthly interest on my EZ, 25th each month, all other accounts June and December.

22 hours ago, gamb00ler said:

As I said, it worked perfectly in my case... but other posters have not been successful in getting Thai banks to stop the withholding after provision of their Thai tax ID.

Thanks. Good to know. I've decided I probably won't bother though. I just checked my account and realized I'm losing less than 150 Baht a month in tax withholding. It probably amounts to less than 2,000 Baht a year in total. It hardly seems like it's worth the hassle or the effort in my case.