flip Posted June 11, 2008 Share Posted June 11, 2008 I´m living in Phuket and checking at the moment the options to put a little bit money on a saving bank account and trying to get the hightest interest as possible. Siam Commercial giving only 2.4 - 2.7% for 1 year fix. Can anybody recommend a bank which is paying a higher rate? If possible in the Chalong/Rawai/Kata/Karon area. thnks a lot Link to comment Share on other sites More sharing options...
lordofdelusion Posted June 11, 2008 Share Posted June 11, 2008 I´m living in Phuket and checking at the moment the options to put a little bit money on a saving bank account and trying to get the hightest interest as possible.Siam Commercial giving only 2.4 - 2.7% for 1 year fix. Can anybody recommend a bank which is paying a higher rate? If possible in the Chalong/Rawai/Kata/Karon area. thnks a lot Siam commercial also has a mutual fund that invests in Thai bonds A fixed 3.5% I believe and you can get your money out anytime Link to comment Share on other sites More sharing options...
LivinginKata Posted June 11, 2008 Share Posted June 11, 2008 Actully the Siam's mutual fund is not fixed interest, as far as I can see. We tried that plan and it seems that the rate is variable, up or down as the 'buy' price might actually be lower than the 'sell' price, so it's possible to loose money in the short term. But given that there is no tax taken off, it's still one of the best savings accounts in Thailand. After saying that, have to say that we are not using that account any more. Get 6.2% interest in a fixed deposit Sterling account, which seems a lot better. Link to comment Share on other sites More sharing options...
g00dgirl Posted June 11, 2008 Share Posted June 11, 2008 If you can consider accounts outside of Thailand you can get up to 8% on Australian Dollar term deposits. There are banks in Singapore that open accounts for people who don't live in Singapore and they offer Australian Dollar term deposits. They send statements overseas and have online banking. Link to comment Share on other sites More sharing options...
commie Posted June 19, 2008 Share Posted June 19, 2008 If you can consider accounts outside of Thailand you can get up to 8% on Australian Dollar term deposits. There are banks in Singapore that open accounts for people who don't live in Singapore and they offer Australian Dollar term deposits. They send statements overseas and have online banking. Would you name these banks? Link to comment Share on other sites More sharing options...
g00dgirl Posted June 19, 2008 Share Posted June 19, 2008 If you can consider accounts outside of Thailand you can get up to 8% on Australian Dollar term deposits. There are banks in Singapore that open accounts for people who don't live in Singapore and they offer Australian Dollar term deposits. They send statements overseas and have online banking. Would you name these banks? I will PM you commie, if anyone would like recommendation for a bank PM me. Link to comment Share on other sites More sharing options...
chickencurry Posted June 20, 2008 Share Posted June 20, 2008 If you can consider accounts outside of Thailand you can get up to 8% on Australian Dollar term deposits. There are banks in Singapore that open accounts for people who don't live in Singapore and they offer Australian Dollar term deposits. They send statements overseas and have online banking. Would you name these banks? We get over 7 per cent interest on aussie dollar 3 month deposits from DBS Singapore, UOB Singapore, and Standard Chartered Singapore. They all vary a bit and obviously depends how much you put on deposit. UOB and Standard Chartered you can move money down to Thailand on the internet. Have internet with DBS but have to fax instructions for some reason. I believe (not sure on this) that you may have to go to Singapore in person to open the accounts first. (We used to live in Singapore so opened them when we were there.) Maybe someone can confirm this. Link to comment Share on other sites More sharing options...
LivinginKata Posted June 20, 2008 Share Posted June 20, 2008 Yes, you do need to turn up at your target bank in personnel, with passport, and proof of your residential address outside Singapore to open a tax free interest account. Most foreign currencies (such as A$), but don't forget you actually HAVE to pay into your foreign currency account in THAT currency. So some currency convertion might be required. Sayfrom Thai Baht -> Sing $ -> A$ Link to comment Share on other sites More sharing options...
chickencurry Posted June 21, 2008 Share Posted June 21, 2008 If you have an address in Singapore (though probably not) it is still tax free savings. They abolished taxing interest on savings accounts a few years ago. Slightly off topic, but for anyone who may be interested, Singapore also abolished inheritance tax/estate duties this year. Link to comment Share on other sites More sharing options...
Sir Burr Posted June 25, 2008 Share Posted June 25, 2008 I'm pretty sure that no Thai bank pays interest on an account held by a foreigner. Another example of "double-pricing". Link to comment Share on other sites More sharing options...
LivinginKata Posted June 25, 2008 Share Posted June 25, 2008 I'm pretty sure that no Thai bank pays interest on an account held by a foreigner.Another example of "double-pricing". I get interest on my Thai Farmers savings account... Link to comment Share on other sites More sharing options...
fiddlehead Posted June 26, 2008 Share Posted June 26, 2008 Me too. 2% Link to comment Share on other sites More sharing options...
george Posted June 26, 2008 Share Posted June 26, 2008 HSBC in Singapore give decent rates for NZD and AUS, and their internet banking is excellent. http://www.hsbc.com.sg/1/2/personal/deposi...y-time-deposits Link to comment Share on other sites More sharing options...
stevenl Posted June 27, 2008 Share Posted June 27, 2008 I'm pretty sure that no Thai bank pays interest on an account held by a foreigner.Another example of "double-pricing". I get interest on Kasikorn deposit, current account and Ayudhya deposit and current account. Link to comment Share on other sites More sharing options...
fiddlehead Posted June 27, 2008 Share Posted June 27, 2008 Me too. 2% Was in there today and saw that they have now raised the interest to 2.3% on a 3 month deposit. (Kasikorn) Link to comment Share on other sites More sharing options...
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