Savings In Thailand

[coldcrush]

Hi All,

i would like to move some savings into a Thai bank or something close to it while gaining interest.

Does anyone know my best options?

Thanks

[coldcrush]

Anyone?

[JimsKnight]

Not really, partly because I always bring mine in from overseas (where interest is a lot higher) and partly because Thailand has low rates of interest and tends to exclude Farangs from having savings accounts (unless you have a WP).

[AmericanGuy1066]

Hi All,

i would like to move some savings into a Thai bank or something close to it while gaining interest.

Does anyone know my best options?

Thanks

Interest rates on Thai bank accounts are very poor. Savings accounts are around 0.75% a year. On fixed deposites you might get around 2.5% for tying your money up for a whole year.

[JonnieB]

Interest rates on Thai bank accounts are very poor. Savings accounts are around 0.75% a year. On fixed deposites you might get around 2.5% for tying your money up for a whole year.

thought i have seen recent adverts for up to 3-4% for Thai bank CDs. don't know if available for foreiger accounts, however.

just opened a new savings account with Bank of Ahyudaha yesterday. Funny, the clerk first says to me that i get no interest because i'm foreigner...when i say i get interest on my Bangkok Bank savings account (which i do), she confers with the "phi" next to her and they converse for a few seconds and then she says that ,oh yeah, i can now get and the rate is like stated above, like 3/4 percent per year. now, it's likely that when the paperwork was processed by the back office, i would have been given interest at that's what happened with BB. they told me no interest initially but when i started to update my passbook at the machines, every quarter it seems, i would get a few baht in interest.

oh, also just need some form of proof of long-term residency (e.g. retirement visa, rental contract, immigration letter) to open a savings or checking account at this branch of BOA. No work permit needed.

[Old Man River]

Current interest rates on deposits, such as they are, can be found on this BOT page:

http://www.bot.or.th/bothomepage/databank/.../interest_e.asp

[naka]

Only bring in what you intend to spend. Daft to do otherwise.

Naka.

[AmericanGuy1066]

Only bring in what you intend to spend. Daft to do otherwise.

Naka.

mostly good advice in terms of savings accounts here... unless you have a view on currencies...