I have some money laying around in Thai bank account, not earning any interest. It’s not a big amount but as I don’t intend to use it for a while I just wonder if I can put it in the term deposit or something to get some interest. And if yes what is the tax implication. I don’t mind to pay tax on the money I earn. I will ask the bank but at the moment I am not in Thailand.

Thank you for your help.

I have read that the capital gains tax rate is 15% across the board in Thailand and that generally it is automatically withheld by banks and brokerages. Check with the bank if it's the same for bank CDs and term deposits.

Check with your bank.

Different Thai banks have different plans and rates.

I've seen some Thai banks offering 3% interest with a minimum 6 month term.

I get interest paid once a year in July. Try SCB, in my opinion the best bank in Thailand.

Barry

TMB last week 1.5% for 3 months minimum 1000000baht........I think after tax you net around 12750 not bad if you can renew it is almost 6% a year

I also think you need a 1 year visa ymmv

Edited October 27, 201015 yr by yankee99

TMB last week 1.5% for 3 months minimum 1000000baht........I think after tax you net around 12750 not bad if you can renew it is almost 6% a year

I also think you need a 1 year visa ymmv

when banks advertise 1.5% for 3 months the 1.5% is the yearly interest rate. You don't get 6% per year

bank accounts are like marriage

you put it in

you take it out

you lose interest......

i think you can earn up to B20,000 a year interest with no tax.

Look at the 12 month Marathon Account at Standard Chartered Bank here

TMB almost went bankrupt a few years ago and had to be bailed out by the government. TMB stands for Thai Military Bank which tells you all you need to know about this institution.

TMB last week 1.5% for 3 months minimum 1000000baht........I think after tax you net around 12750 not bad if you can renew it is almost 6% a year

I also think you need a 1 year visa ymmv

when banks advertise 1.5% for 3 months the 1.5% is the yearly interest rate. You don't get 6% per year

No that is not the case this is a 3 month time deposit . They pay 1.5% on a minimum 1 million baht then they subtract taxes. I am not fluent in thai but i specifically asked after 3 months what i would get paid? She had a sheet and this is where i got my figures from.

I can not say if TMB is good or bad.

I suggest the mods move this topic to Job,Economy, Banking...Forum as it has been discussed before and will get more responses.

I get interest on my K-Bank savings account. Don't know the rate but its probably less than 1%.

Edited October 27, 201015 yr by johnnyk

TMB last week 1.5% for 3 months minimum 1000000baht........I think after tax you net around 12750 not bad if you can renew it is almost 6% a year

I also think you need a 1 year visa ymmv

when banks advertise 1.5% for 3 months the 1.5% is the yearly interest rate. You don't get 6% per year

No that is not the case this is a 3 month time deposit . They pay 1.5% on a minimum 1 million baht then they subtract taxes. I am not fluent in thai but i specifically asked after 3 months what i would get paid? She had a sheet and this is where i got my figures from.

I can not say if TMB is good or bad.

I'm sure there was a misunderstanding between you and the bank employee, no Thai bank will give you 6% per annum for a 3 months fixed deposit. If you check TMB's homepage the advertised interest rate for 3 months is 1.20% p.a., you might be able to get more for larger amounts - but not 6% p.a.

Sophon