Interest Rates In Thailand

[sadako]

Hey Hey all !

Do many Thai banks have a good rate of interest for savings ? In the UK I can get 5 % plus in some high interest accounts , but Im hoping to perhaps invest in off-shore accounts that have a higher rate , and can pay out interest monthly . Anybody do these kinds of investments in Thailand ? It all helps when moving to Thailand for the first time !

Cheers ,

( Petrified Sadako ) !

[brianbrain]

No.

0.75% is typical.

[sadako]

!!!!!!!! 0 . 75 ! Ok cheers

[Numtip]

Well...

0.75% for saving deposit

1 - 1.75 % for fixed deposit

[brianbrain]

Well...

0.75% for saving deposit

1 - 1.75 % for fixed deposit

<{POST_SNAPBACK}>

But who would wish to come to Thailand and then lock their money in a fixed deposit account for two years?

http://www.scb.co.th/eng/eng_main_rates_dep_thb.shtml

Fixed Deposit Interest Rates

3 Months 6 Months 12 Months 24 Months

1.00 1.00 1.00 1.50

Edited April 16, 2005 by brianbrain

[Khun Jean]

It would make you more free from exchange rate fluctuations. Interest income created and spend in Thailand is not a bad idea.

It is only that Thailand has a not normal bangking system.

I guess the OP thougt it would be about the same in Thailand.

I was shocked too when i found out. It is a WASTE of money to put it in a savings account here.

[~G~]

It would make you more free from exchange rate fluctuations. Interest income created and spend in Thailand is not a bad idea.

It is only that Thailand has a not normal bangking system.

I guess the OP thougt it would be about the same in Thailand.

I was shocked too when i found out. It is a WASTE of money to put it in a savings account here.

<{POST_SNAPBACK}>

0.25% for companies.

[astral]

Krung Thai Bank told me they are not accepting Fixed Deposits!!

The savings rate for farangs is 0%, no that is not a mistake ZERO.

[Sunny Valentine]

Here is a link to Thai Military Bank Interest rates; look at the figures for Expatriates .....

Amazing

Sunny

[sadako]

EXCELLENT rates for foreigners !!!!!

That is quite remarkable ! Cheers guys , I think I will decide not to save in Thailand !!!

[daveb1]

Acording to Kasikorn banks website they are paying up to 4.05% on money deposited in uk pounds in there savings account, or am i reading this wrong?

[Thaicoon]

Buy some gold bars, a better bet, gold prices seem to go up all the time.

[Rinrada]

Acording to Kasikorn banks website they are paying up to 4.05% on money deposited in uk pounds in there savings account, or am i reading this wrong?

<{POST_SNAPBACK}>

Kasi bank as of wanee..

Deposite Rate

Given on February 1, 2005

Deposit Rate

Customer Type Saving 3 Month 6 Month 12 Month 24 Month 36 Month

Retail Customers 0.75 1.00 1.00 1.00 1.25 1.50

Non-profit foundations that are tax exempt, or non-profit charitable associations legally established with specific law that are likewise tax exempt 0.75 1.00 1.00 1.00 1.25 -

Temple, Institutional Customers, Company Limited, Public Company Limited, Limited Partnership, Hospital, School, Association, University 0.25 0.50 0.50 0.50 0.50 -

Financial institutions or juristic persons that operate financial business such as banks, finance companies, securities companies, credit fonciers, pawn shops, savings cooperatives, saving cooperatives club, etc 0.00 0.25 0.25 0.25 0.50 -

Mutual Fund, Provident Fund, Other Fund, Life and Non Life Insurance Companies 0.25 0.25 0.25 0.50 0.50 -

State agencies, state enterprises, foreign embassies, and international organizations in Thailand. 0.25 0.25 0.25 0.50 0.50 -

Non Resident Baht Account (NRBA) 0.00 - Same as above customer type

and for the FC Savings rates .....AU and GBP...best

dont forget that most email A/C in UK will give you circa 5 - 5.25%

Date 20 April 2005

FOREIGN CURRENCY SAVING ACCOUNT TIME DEPOSIT

1 Month 3 Months 6 Months 9 Months 12 Months

AUD 3.65 4.45 4.50 4.55 4.60 4.65

CAD 1.35 1.85 1.90 1.90 2.00 2.10

CHF 0.00 0.15 0.20 0.20 0.20 0.25

EUR 1.00 1.45 1.50 1.45 1.50 1.55

GBP 3.10 3.90 4.00 4.05 4.05 4.10

HKD 0.00 0.00 0.00 0.00 0.00 0.00

JPY 0.00 0.00 0.00 0.00 0.00 0.00

SGD 0.00 1.35 1.30 1.30 1.35 1.45

USD 1.50 2.25 2.40 2.60 2.75 2.85

http://www.kasikornbank.com/GlobalHome/EN/...cd/rate_fcd.jsp

[bangkokian]

I think It'll be diffivult to find a country with higher interest rates than in the U.K. The days of 15% interest rate are over. Thaksin attributes the Asian Financial Crisis, not too many years back, to the interest-rates differentiatiation, so he wants to keep interest rates as low as possible. Also, another Thai-Baht devaluation crisis may be around the corner.

I believe in gold for longer term investment.

[Clip_My_Wings]

I was suggesting to my Thai GF that she should save her money in a bank account and was amused at her reluctance ... she said she'd invest her money in gold which seemed a reasonable alternative, but now i really understand why she didn't want a savings account ... the ridiculous saving rates.

my question is

- could i set up an interest saving account here in the UK for her, eg first direct, where transferring her money from thailand (if in large amounts) would not be too expensive and easy to do so?

- This account would be a long-term savings account for her daughter and amounts wouldnt need to be withdrawn for about eight years.

- I would assume I would need to set this up in my name but ultimately she would need to approve any withdrawals - is this possible ??? (i wouldnt want to her to trust me solely with all her money although it could make me a rich man if i wasn't an honest person)

any advice would be useful ...