coldcrush Posted September 29, 2007 Share Posted September 29, 2007 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 Link to comment Share on other sites More sharing options...
coldcrush Posted September 30, 2007 Author Share Posted September 30, 2007 Anyone? Link to comment Share on other sites More sharing options...
JimsKnight Posted September 30, 2007 Share Posted September 30, 2007 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). Link to comment Share on other sites More sharing options...
AmericanGuy1066 Posted September 30, 2007 Share Posted September 30, 2007 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. Link to comment Share on other sites More sharing options...
JonnieB Posted October 1, 2007 Share Posted October 1, 2007 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. Link to comment Share on other sites More sharing options...
Old Man River Posted October 1, 2007 Share Posted October 1, 2007 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 Link to comment Share on other sites More sharing options...
naka Posted October 1, 2007 Share Posted October 1, 2007 Only bring in what you intend to spend. Daft to do otherwise. Naka. Link to comment Share on other sites More sharing options...
AmericanGuy1066 Posted October 1, 2007 Share Posted October 1, 2007 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... Link to comment Share on other sites More sharing options...
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