Do Foreigners Normally Get Interest At Savings Accounts In Thailand

[martin81]

Many banks have sign posted that their interest rates for non residents are 0.0.

But I earlier had a savings account at Bangkok bank and did get paid interest.

Now I am considering opening a new account with Visa debit and web banking even though I am not resident here. Only coming often to see family.

Which thai bank would you recommend that will also pay me interest even though I have no resident permit?

[Neeranam]

I get paid interest at Bangkok Bank, Siam Commercial and Kasilorn but NOT at Krung Thai(even with a work permit). However, this can be fixed by phoning head office.

[longball53098]

I get interest on all 3 of my SCB regular savings accounts. It amounts to almost nothing but yes to the answer on the post.

[Westerner]

I get paid interest at Bank of Ayhudya

[ignis]

Interest Rates are low at the moment..

I am on retirement Extensions, In 2004 opened a fixed rate at HSBC which was renewed until July 2013 @ 2.76%...Noticed last week if you open an account now it is .60%

Bangkok Bank opened a new Fixed rate @ 1.75% on my saving account also get a bit but very small.

GHB are giving still 2.50% on Fixed rate, but it takes at least 3 months to open an account with them, on the saving account is NIL

Edited June 2, 2009 by ignis

[PatinBKk]

Savings accounts at Siam Commercial pay me interest although only just over 1% net

[hansnl]

I get paid interest at Bangkok Bank, Siam Commercial and Kasilorn but NOT at Krung Thai(even with a work permit). However, this can be fixed by phoning head office.

Or having a yellow tambien Baan.

For KTB the secret is theThai ID-number and the house number

[chiangmaibruce]

Refer to most recent thread on this topic:

http://www.thaivisa.com/forum/Fixed-Deposi...es-t262584.html

Many do pay interest for foreigners, but at a lower rate. you need to refer to each banks web site and read the interest rates page. KBank is one of the few that pays the same interest to all

[Time Traveller]

Interest is generally paid provided you give an address in Thailand. The bank with the highest rates is probably Kiatnakin bank at the moment but changes depending on each banks funding requirements.

[BigSnake]

Yes, but very little if any.

[chiangmaibruce]

Interest is generally paid provided you give an address in Thailand.

yes, just to clarify my earlier post, the banks avoid the terms 'foreigner' and 'thai' and use resident and non-resident instead. One of the issues is the way that they interpret who is a resident. Some say that if you are living here then you get the resident rate, but others say (and have told me) that even if you are here on a 12 month renewable visa then you are a non-resident. Again, the phase of the moon and the mood of the bank staffer on the day can also come into play.

[pkrv]

Hi - Yes I can confirm I do get interest on my Bankok Bank passbook savings account

I do not have my passbook savings account book on me at this time but if you research this thread you should be able to find the info you wish

http://www.bangkokbank.com/Bangkok+Bank/main.htm

I opened the account on a tourist visa only, but own a condo - Tricky stuff with Bangkok Bank. This link is of use.

http://www.thaivisa.com/forum/Opening-Bank...50&start=50

Edited June 3, 2009 by pkrv

[MJP]

I even get interest on my GBP forex account with Bangkok Bank.

It was 1% even when UK base rates were 0.5%. Now 0.6%.

[aurelius]

Definately expats are getting interest paid from Bangkok Bank and at rates no different to Thais.

BB also has debit cards available (Be1st visa debit) and online banking (bualuang ibanking).

To increase returns consider a money market fund - Thanathavee which is provided by BB subsidiary Bualaung Asset Management, is a fund which invests in govt bonds etc (no stocks), so relatively secure. No tax payable on returns. The fund is daily traded, so sell today, get money on the next business day, and there are no transaction fees. If you use their internet banking, then all the buying and selling can be done online (or by phone or by ATM). Very easy.

The only banking products not available to foreigners, by BOT policy, are home loans and Bills of Exchange (similar to deposits).

[chiangmaibruce]

Definately expats are getting interest paid from Bangkok Bank and at rates no different to Thais.

Looks like you're correct - refer to:

http://www.bangkokbank.com/Bangkok+Bank/We...posit+Rates.htm

the only point of difference seems to be 2. Savings deposit accounts