Fixed Deposit Interest Rates

[ttechguy]

I am trying to get the fixed deposit interest rates from Banks in Thailand, but I am not sure if I can find

what will be the average interest rate per year, if I fixed deposit 100,000 USD for 10 years?

[basjke]

At current time I would not bother with a fixed deposit for that lenght of time because the interest rates are next to nothing and there might be a devaluation of the thai baht in the pipeline.

[flying]

http://www.bangkokbank.com/Bangkok%20Bank/...it%20Rates.aspx

Negligible

For that amount you can find a better idea elsewhere. Perhaps Singapore?

[roger1999]

One possible option for you is to go to any of the large banks and ask them to outline the options for you. I recently purchased a 12 month Korean bond and got maybe 3.5%. They (SCB) also offer 6 month bonds at a lower interest rate. The money is locked up for the period of the contract and you cannot access it. Be careful, though, and ask a lot of questions. SCB also sold me a gold investment that was tied to the Australian dollar. I lost money on that one.

[ttechguy]

One possible option for you is to go to any of the large banks and ask them to outline the options for you. I recently purchased a 12 month Korean bond and got maybe 3.5%. They (SCB) also offer 6 month bonds at a lower interest rate. The money is locked up for the period of the contract and you cannot access it. Be careful, though, and ask a lot of questions. SCB also sold me a gold investment that was tied to the Australian dollar. I lost money on that one.

Bonds and gold is risky.

So we can't get decent interest for 100,000 USD for 10 years fixed deposit

[roger1999]

You are correct -- there is risk. You can get a slightly higher rate of interest if you set up a special account. With SCB I think it is called a FundBook. This is different than a normal account where your funds are instantly accessible at the ATM.

If you need to access the funds from the special account you need to go to your bank 48-72 hours prior and they will transfer the needed funds to your normal ATM account. I'm not sure what this pays. Maybe 2.0-2.5%. Inquire with the bank manager or assistant manager, not the bank tellers.

[roger1999]

I should add that I have no idea what your options are if you are willing to lock up the funds for 10 years. Just inquire at the bank.

[lannarebirth]

One possible option for you is to go to any of the large banks and ask them to outline the options for you. I recently purchased a 12 month Korean bond and got maybe 3.5%. They (SCB) also offer 6 month bonds at a lower interest rate. The money is locked up for the period of the contract and you cannot access it. Be careful, though, and ask a lot of questions. SCB also sold me a gold investment that was tied to the Australian dollar. I lost money on that one.

Bonds and gold is risky.

So we can't get decent interest for 100,000 USD for 10 years fixed deposit

You might enquire about this vehicle at SCB:

http://www.scb.co.th/en/nws/abt_nws_080506-ns1.shtml

caveat emptor

[roger1999]

The subscription period for that SCB 10 year. investment appears to be expired. Still, I would talk to the bank since they have new opportunities coming up from time to time. It seems you will find a 10 year deal somewhere if you are patient.

Edited August 17, 2009 by roger1999

[lannarebirth]

Also be aware that there is a schedule to rachet down deposit insurance limits that will take place over the next several years. $100,000 will certainly be well over the insured limit in 10 years time.

[ttechguy]

I should add that I have no idea what your options are if you are willing to lock up the funds for 10 years. Just inquire at the bank.

yah, looking for fixed deposit of 100,000 for 10 years and calculate on much interest I can get per year.

[Naam]

I should add that I have no idea what your options are if you are willing to lock up the funds for 10 years. Just inquire at the bank.

yah, looking for fixed deposit of 100,000 for 10 years and calculate on much interest I can get per year.

10Y fixed deposits have never and will never exist. but anybody who is interested to lock up his money for such a long period whilst we are in an absolutely interest valley is advised to check his body temperature and perhaps consult a medic

[Abrak]

One thing I do find strange is the concept of curing overborrowing by taking interest rates to zero.

[lannarebirth]

One thing I do find strange is the concept of curing overborrowing by taking interest rates to zero.

It's not a "Debt Crisis" for crying out loud! It's a "Credit Crisis". Somehow its availabilty has been reduced. I think thy're going to blame it on the "Savings Crisis" which is rapidly developing.

[12DrinkMore]

One possible option for you is to go to any of the large banks and ask them to outline the options for you. I recently purchased a 12 month Korean bond and got maybe 3.5%.

The BKK bank tried to get me into that. They said there was no currency risk and I would get a tad less than 2.5%. Might go for a short term bond to see what happens. I do not understand why Korea is offering these rates.

Anyway, to the OP.

USDs will not attract any interest in Thailand. Try Singapore or Hong Kong.

[cmsally]

You are correct -- there is risk. You can get a slightly higher rate of interest if you set up a special account. With SCB I think it is called a FundBook. This is different than a normal account where your funds are instantly accessible at the ATM.

If you need to access the funds from the special account you need to go to your bank 48-72 hours prior and they will transfer the needed funds to your normal ATM account. I'm not sure what this pays. Maybe 2.0-2.5%. Inquire with the bank manager or assistant manager, not the bank tellers.

Only about 2.5% at the moment. To withdraw takes 24hrs, money transferred into your savings acct book.

Fixed deposit rates are so low everywhere now, surely not a good time to open one esp for 10yrs.

[basjke]

You are correct -- there is risk. You can get a slightly higher rate of interest if you set up a special account. With SCB I think it is called a FundBook. This is different than a normal account where your funds are instantly accessible at the ATM.

If you need to access the funds from the special account you need to go to your bank 48-72 hours prior and they will transfer the needed funds to your normal ATM account. I'm not sure what this pays. Maybe 2.0-2.5%. Inquire with the bank manager or assistant manager, not the bank tellers.

Only about 2.5% at the moment. To withdraw takes 24hrs, money transferred into your savings acct book.

Fixed deposit rates are so low everywhere now, surely not a good time to open one esp for 10yrs.

Are yiu sure about those 2,5 %?I started one of those fundbooks with scb november last year and then it gave 2,5% but it declined rapidly,I closed it 3 months ago because it had come down to about 0.75 % at that time.

[basjke]

One possible option for you is to go to any of the large banks and ask them to outline the options for you. I recently purchased a 12 month Korean bond and got maybe 3.5%.

The BKK bank tried to get me into that. They said there was no currency risk and I would get a tad less than 2.5%. Might go for a short term bond to see what happens. I do not understand why Korea is offering these rates.

Anyway, to the OP.

USDs will not attract any interest in Thailand. Try Singapore or Hong Kong.

I took one of those korean funds with KB about 3 months ago.Had to be quickly at that time as the registration normally closed within 2 days for every bond that came available.There is no currency risk because Kb hedges the currency and I was told that they guaranteed a minimum return of 2%.

[12DrinkMore]

I took one of those korean funds with KB about 3 months ago.Had to be quickly at that time as the registration normally closed within 2 days for every bond that came available.There is no currency risk because Kb hedges the currency and I was told that they guaranteed a minimum return of 2%.

I have been getting SMS messages very couple of days trying to pull me in, in fact, one arrived a couple of minutes ago.

"Average THB rate 2.5% / year, fees 0.4% invest in 9 month South Korean MSB"

These are Monetary Stabilization Bonds.

http://news.alibaba.com/article/detail/mar...tions%252C.html

and according to this

http://www.dynamic-korea.com/news/view_new...58&keyword=

the Korean government has enough cash to pay the debt. But

1 Nov 2008 01:28:41 PST

In South Korea, the global credit squeeze has sent the won plunging 33% against the dollar this year, making it virtually impossible for local banks to borrow from overseas lenders.

Last month the Thais issued a bond starting with 3% interest and then climbing to 5%. But "NOT FOR SALE TO FOREIGNERS", I tried several banks, and none of them would accept my application. Why do they do this?

Edited August 18, 2009 by 12DrinkMore