Bank Savings Accounts

[richardjm65]

This must have been aired before, but if so, I have not found it. I've had my savings account with Krung Thai Bank up in Nangrong, Buriram for just over a year. Today I queried why there was no entry on the bank book for interest, having had approximately 900,000 baht in the account, this for extension of visa by virtue of retirement purposes. I draw down on this account until it becomes time to top it up for the next extension. The explanation was that interest is not paid to non-Thai account holders. Getting home, I checked the bank books of my previous accounts with Standard Chartered and Siam Commercial. Both of them did pay interest. So, what's the story here - some banks pay - others don't. Can anyone provide an explanation and, perhaps, provide a list of which banks do pay interest and those that don't.

Needless to say, I shall be looking to move my account from Krung Thai to an alternative bank which will a) accept my application for an up-country account, not make the fatuous suggestion that it could be in my wife's name (remember the 800,000 has to be in a bank account in your own name) and c) will pay interest on the amount lodged with them. When I opened the Krung Thai account, nobody advised that they would not be paying interest and I, (based on my previous banks service), did not think to ask. (Stupid boy)!

Your comments would be appreciated.

[likewise]

Weird indeed, I do get interest on my SCB accounts.

Maybe it's because Krung Thai is a government bank while SCB is a private bank?

[lonewolf99]

I opened a new deposit account with some cash I got from selling gold 2 weeks ago at the

Kungsri Bank of Ayudya (yellow ATMS's). They offered me "double" the current rate if I only make two withdrawals in a month - that is 1.5% at the moment not sure how long it will go on. Interest calculated daily and paid monthly subject to tax....I posted these details the other day when someone else asked about putting spare money away.

Worth checking out - you also get a VISA debit card (300 baht)

Edited March 29, 2011 by lonewolf99

[theoldgit]

Kasikorn savings account pays interest to everybody, though not very much, offers a debit card and online banking.