Best Safe Investment Rate

[RioMist]

I have around 2.2m baht to safely invest. It can be invested to 1 year as I don't need the funds for quite some time. The bank have offered me 3.4%. I was wondering if anyone knows of a better deal I could consider. Thanks for any assistance.

[fletchsmile]

Safe is a relative term. No bank is 100% safe

We have some Marathon Savings A/Cs with Standard Chartered. StanChart are locally incorporated here. They have the equal highest credit rating among any bank here as a stand alone entity. The international presence, and parental backing is also there from a reputational perspective from Standard Chartered Group. While technically the parent overseas may consider them to go bust in extreme circumstances, the damage to their reputation globally would likely mean they would step in, even if not necessarily legally bound to do so. So compared to local banks they rank well, with overseas parental support there too in terms of safety a likely factor.

It pays 2.75% for first 4 months, 3.25% for next 4, 4.5% for next 4 months. Simple average is around 3.5% and compounding works out around 3.54%. I believe they're running til end of November. You will be able to add to it until November, after that you can't add.

You can make 2 withdrawals a month for free, and also withdraw monthly interest. It is passbook based though. Although you can see your balance online, you can't add/ withdraw online. So obviously it's useful to have another type of account for easier access, and regular use, in addition.

I find this works well for large amounts like you mention, and amounts you don't need daily access to, but might want to dip into now and again, while looking at a time frame of about a year. They do a similar thing in Sep-Nov each year. You can do in joint or single names.

Given BOT are likely to reduce interest rates rather than increase in their next move, it's also no bad thing to lock into rates that are fixed

BTW On your amounts, banks would deduct 15% withholding tax.

BTW2 The government guarantee scheme will drop to THB 1mio per person per bank next year, so you might want to consider splitting it.

I would suggest to most people in Thailand that they use two banks anyway, to spread risk, and as a back-up when something goes wrong and you or they mess something up, you have an alternative while it's being sorted out

BTW3 I am waiting to see in May next year whether immigration will allow this type of account for my marriage visa extension. They have accepted other StnChart accounts in the past, but have never tried this one. No big deal if they don't as will use another one.

Edited November 26, 2011 by fletchsmile

[TallGuyJohninBKK]

BTW3 I am waiting to see in May next year whether immigration will allow this type of account for my marriage visa extension. They have accepted other StnChart accounts in the past, but have never tried this one. No big deal if they don't as will use another one.

Fletch, not sure what causes you to raise the Immigration question about this SC account... That they're an international bank vs. a solely Thai one???

AFAIR, the Immigration language on such things is to have deposits in a "bank in Thailand," not a "Thai bank" per se. So Standard Chartered certainly ought to qualify, from an institutional perspective.

As for the particular account you mention, I don't see anything about it that ought to cause any problem for Immigration. It ought to be accepted for either marriage or retirement extension-related deposits.

From my recollection, there have been a few instances where scattered Immigration offices have balked at fixed deposit account. But that Immigration central in BKK and most offices have no problem with them.

Some cautions... to meet Immigration's requirement, the balance can't fall below the minimum any time during the two or three month seasoning period prior to an application. Likewise, if the account is held jointly such as a husband and wife, I believe Immigration's practice in such cases is to allocate half of the deposit toward each person, regardless of whether both or only one (such a farang guy with a Thai wife) is applying to Immigration.

[fletchsmile]

BTW3 I am waiting to see in May next year whether immigration will allow this type of account for my marriage visa extension. They have accepted other StnChart accounts in the past, but have never tried this one. No big deal if they don't as will use another one.

Fletch, not sure what causes you to raise the Immigration question about this SC account... That they're an international bank vs. a solely Thai one???

AFAIR, the Immigration language on such things is to have deposits in a "bank in Thailand," not a "Thai bank" per se. So Standard Chartered certainly ought to qualify, from an institutional perspective.

As for the particular account you mention, I don't see anything about it that ought to cause any problem for Immigration. It ought to be accepted for either marriage or retirement extension-related deposits.

From my recollection, there have been a few instances where scattered Immigration offices have balked at fixed deposit account. But that Immigration central in BKK and most offices have no problem with them.

Some cautions... to meet Immigration's requirement, the balance can't fall below the minimum any time during the two or three month seasoning period prior to an application. Likewise, if the account is held jointly such as a husband and wife, I believe Immigration's practice in such cases is to allocate half of the deposit toward each person, regardless of whether both or only one (such a farang guy with a Thai wife) is applying to Immigration.

Thanks for the note.

Yes I believe it should be OK too. That said as you highlight different immigration offices and even officers within the same office can apply different views. Fixed vs ordinary deposit being one. This is sort of being the two in nature, as rates are fixed, and there are some restrictions on access unlike a simple savings account.

Joint accounts vs individual accounts is another one that I've heard thrown up. The possibilities are yes it's OK, not it's not or take half the balance Easier to assume no. Doesn't matter whether we're "right" or not, Government officers can be a law unto themselves. Examples:

Last time they actually asked me if I had another bank account with a Thai bank other than Standard Chartered for the visa extension. I simply said my previous employer required me to use Stan Chart for the main account. Got the impression they would have preferred another bank, but as we got on well with them and made a good impression they didn't seem to want to make life difficult. So I could foresee someone differentiating a bank in Thailand vs a Thai bank if they felt like it. Other places do.

When we had our children and claimed social security payment for my wife, the social security office would not pay into a Stan Chart account, and insisted on a Thai bank account. i.e bank in Thailand not good enough. Had to be a Thai bank

Not just govt either. Foodland had a policy years back of only accepting Thai credit cards. They wouldn't accept my Bank of Asia card, (even though it was a Thai bank), because it had recently been bought out by ABN a foreign bank. So previously it was OK but not after being bought out...

Bottom line. Yes should be OK, but as you say this is Thailand, so no harm in being prepared and having a back-up

Edited November 26, 2011 by fletchsmile

[AyG]

From August next year the government guarantee for bank deposits will be reduced to one million Baht per customer per bank. The cautious approach would be to split the investment across more than one bank.

[sbk]

Fletch, is it possible to open this account online or do I have to go to Bkk to their office?

[Bakseedaa]

If you can leave your cash for 24 months, I can show you an extremely safe investment that will pay you and guarantee you a minimum of 12% per annum + bonuses, and allow you to track your investment 24 hours a day. It also pays your interest at regular intervals along with any bonuses you are due. It is in London and has many built in safeguards to protect your principal amount.. You can lift your cash at any time, but small penalties are paid depending on how long you have been in this investment. It is not Stock market related, or Forex... It is probabaly the best and safest investment in the world..

[PattayaPhom]

If you can leave your cash for 24 months, I can show you an extremely safe investment that will pay you and guarantee you a minimum of 12% per annum + bonuses, and allow you to track your investment 24 hours a day. It also pays your interest at regular intervals along with any bonuses you are due. It is in London and has many built in safeguards to protect your principal amount.. You can lift your cash at any time, but small penalties are paid depending on how long you have been in this investment. It is not Stock market related, or Forex... It is probabaly the best and safest investment in the world..

Regulated by the FSA or Government gauranteed???.....I very much doubt it....please share with us...sounds very similar to many companies that invest in property in highy populated student areas.....if 12% was gauranteed per annum then nobody would be sharing it, they could borrow at 5-7% and make a clear profit for doing nothing...strongly advise against anything like this, have seen people loose their lie savings through these kind of schemes...if its too good to be true..it is!!!

[chiang mai]

The OP should look into the Government Savings Bank, the recently advertised rate here in CM was 4% about one month ago, I suspect the term was one year although I do not know for certain - typically the GSB rates seem to be a little higher than most other banks.

Also, the 15% tax that is withheld can be reclaimed as long as it falls within guidelines that most retired expats would probably meet, do a search in this forum for details.

[fletchsmile]

Fletch, is it possible to open this account online or do I have to go to Bkk to their office?

I'm pretty sure you can't open online. Details are as follows. Note also should your balance fall below 200k interest drops to 0.75%

http://www.standardchartered.co.th/promotions/marathon-savings/en/index.html?pid=marathon-savings-780x285EN

Appreciate this makes it difficult for "island based" people as Stan Chart are mainly based in Greater Bangkok. It may be possible to open by sending docs in the post - but you'd need the account opening forms off them first - as they need your signatures, copies of visa extension/ passport etc. An alternative may be to sign a power of attorney letter, authorising someone to open the account on your behalf and go in with the docs on your behalf.

They do, however, have one account you can open online, called an "e-saver" account. This is also a decent account and as the name suggests is an e-account, so online. No passbook and no ATM, no statements. All thru internet banking. I think though, you need to be an existing customer. This is because they need to have done their know your customer and anti-money laundering checks. These are already done for an existing customer, hence online is OK for opening. It pays 3% on balance between THb 1 to THb 1mio, after 1mio it drops down. With a spouse that lets you have THB2mio so a reasonable alternative to the Marathon A/c. Slightly lower interest, but easier accessibility and flexible. Stan Chart also have free internet banking should you transfer to your bank account on the island. Many banks eg Bangkok Bank charge for transferring to other banks, Stan chart don't (currently) to try and make up for their lack of branch network compared to Thai banks

http://www.standardchartered.co.th/personal-banking/deposits/savings-account/e-saver/en/

They have various other accounts, but I find these their best 2 accounts, and we have both an e-saver each and Marathon Savings A/cs. Rates and accounts are all at below, as their website isn't great to navigate and find the stuff:

http://www.standardchartered.co.th/interest-fees/_documents/e_int_20111101_WM.pdf

[djayz]

The OP should look into the Government Savings Bank, the recently advertised rate here in CM was 4% about one month ago, I suspect the term was one year although I do not know for certain - typically the GSB rates seem to be a little higher than most other banks.

Also, the 15% tax that is withheld can be reclaimed as long as it falls within guidelines that most retired expats would probably meet, do a search in this forum for details.

Interesting. I could live with 4% return BUT I've been told ONLY Thais can open accounts with the Government Savings Bank. True or false? If I open an account, I want it in MY NAME, and MY NAME ONLY. Can farang open a savings account with the GSB???

[chiang mai]

The OP should look into the Government Savings Bank, the recently advertised rate here in CM was 4% about one month ago, I suspect the term was one year although I do not know for certain - typically the GSB rates seem to be a little higher than most other banks.

Also, the 15% tax that is withheld can be reclaimed as long as it falls within guidelines that most retired expats would probably meet, do a search in this forum for details.

Interesting. I could live with 4% return BUT I've been told ONLY Thais can open accounts with the Government Savings Bank. True or false? If I open an account, I want it in MY NAME, and MY NAME ONLY. Can farang open a savings account with the GSB???

That's a bit like the bar stool rumor that TMB accounts are for soldiers only! GSB accounts are for anyone, not just Thai's.

[Naam]

If you can leave your cash for 24 months, I can show you an extremely safe investment that will pay you and guarantee you a minimum of 12% per annum + bonuses, and allow you to track your investment 24 hours a day. It also pays your interest at regular intervals along with any bonuses you are due. It is in London and has many built in safeguards to protect your principal amount.. You can lift your cash at any time, but small penalties are paid depending on how long you have been in this investment. It is not Stock market related, or Forex... It is probabaly the best and safest investment in the world..

Regulated by the FSA or Government gauranteed???.....I very much doubt it....please share with us...sounds very similar to many companies that invest in property in highy populated student areas.....if 12% was gauranteed per annum then nobody would be sharing it, they could borrow at 5-7% and make a clear profit for doing nothing...strongly advise against anything like this, have seen people loose their lie savings through these kind of schemes...if its too good to be true..it is!!!

why so many words? one word applies to the scheme "12%+ p.a. / best and safest investment", namely bullshit².

[djayz]

The OP should look into the Government Savings Bank, the recently advertised rate here in CM was 4% about one month ago, I suspect the term was one year although I do not know for certain - typically the GSB rates seem to be a little higher than most other banks.

Also, the 15% tax that is withheld can be reclaimed as long as it falls within guidelines that most retired expats would probably meet, do a search in this forum for details.

Interesting. I could live with 4% return BUT I've been told ONLY Thais can open accounts with the Government Savings Bank. True or false? If I open an account, I want it in MY NAME, and MY NAME ONLY. Can farang open a savings account with the GSB???

That's a bit like the bar stool rumor that TMB accounts are for soldiers only! GSB accounts are for anyone, not just Thai's.

Thanks!

Edited November 27, 2011 by djayz

[chiang mai]

If you can leave your cash for 24 months, I can show you an extremely safe investment that will pay you and guarantee you a minimum of 12% per annum + bonuses, and allow you to track your investment 24 hours a day. It also pays your interest at regular intervals along with any bonuses you are due. It is in London and has many built in safeguards to protect your principal amount.. You can lift your cash at any time, but small penalties are paid depending on how long you have been in this investment. It is not Stock market related, or Forex... It is probabaly the best and safest investment in the world..

This is the second or third time I've seen this post on TV in different forums - at best this is spam, at worst this is a lead in to fraud, either way it certainly isn't what it claims to be!

[Naam]

If you can leave your cash for 24 months, I can show you an extremely safe investment that will pay you and guarantee you a minimum of 12% per annum + bonuses, and allow you to track your investment 24 hours a day. It also pays your interest at regular intervals along with any bonuses you are due. It is in London and has many built in safeguards to protect your principal amount.. You can lift your cash at any time, but small penalties are paid depending on how long you have been in this investment. It is not Stock market related, or Forex... It is probabaly the best and safest investment in the world..

This is the second or third time I've seen this post on TV in different forums - at best this is spam, at worst this is a lead in to fraud, either way it certainly isn't what it claims to be!

calling somebody an idiot is not allowed according to forum rules as it is considered "insult ad hominem" and in most cases invokes a reprimand or "punishment".

insinuating indirectly that somebody is an idiot seems to avoid that problem

[CWMcMurray]

From my experience Kiatnakin Bank usually seems to have the best interest rates. My wife just renewed CD for another 6 months at interest rate of 4.25% last week.

[chiang mai]

From my experience Kiatnakin Bank usually seems to have the best interest rates. My wife just renewed CD for another 6 months at interest rate of 4.25% last week.

That's a very interesting find, thanks for the heads up.

[Time Traveller]

Safe is a relative term. No bank is 100% safe

No, but most depositors don't care. They only care about the government guarantee on bank deposits. Otherwise, no bank in Europe of USA would have any depositors

[Boater]

If you can leave your cash for 24 months, I can show you an extremely safe investment that will pay you and guarantee you a minimum of 12% per annum + bonuses, and allow you to track your investment 24 hours a day. It also pays your interest at regular intervals along with any bonuses you are due. It is in London and has many built in safeguards to protect your principal amount.. You can lift your cash at any time, but small penalties are paid depending on how long you have been in this investment. It is not Stock market related, or Forex... It is probabaly the best and safest investment in the world..

Regulated by the FSA or Government gauranteed???.....I very much doubt it....please share with us...sounds very similar to many companies that invest in property in highy populated student areas.....if 12% was gauranteed per annum then nobody would be sharing it, they could borrow at 5-7% and make a clear profit for doing nothing...strongly advise against anything like this, have seen people loose their lie savings through these kind of schemes...if its too good to be true..it is!!!

why so many words? one word applies to the scheme "12%+ p.a. / best and safest investment", namely bullshit².

easily achiveable with UK property !

i have 2 uk properties, 1 yeilds around 10% Net, and the other 18.1 % Net per annum

most UK property owners yeild between 7-12 % , depending on location, plus this isnt taking in to consideration capital growth which is expected to be 15% over 5 years .

[chiang mai]

If you can leave your cash for 24 months, I can show you an extremely safe investment that will pay you and guarantee you a minimum of 12% per annum + bonuses, and allow you to track your investment 24 hours a day. It also pays your interest at regular intervals along with any bonuses you are due. It is in London and has many built in safeguards to protect your principal amount.. You can lift your cash at any time, but small penalties are paid depending on how long you have been in this investment. It is not Stock market related, or Forex... It is probabaly the best and safest investment in the world..

Regulated by the FSA or Government gauranteed???.....I very much doubt it....please share with us...sounds very similar to many companies that invest in property in highy populated student areas.....if 12% was gauranteed per annum then nobody would be sharing it, they could borrow at 5-7% and make a clear profit for doing nothing...strongly advise against anything like this, have seen people loose their lie savings through these kind of schemes...if its too good to be true..it is!!!

why so many words? one word applies to the scheme "12%+ p.a. / best and safest investment", namely bullshit².

easily achiveable with UK property !

i have 2 uk properties, 1 yeilds around 10% Net, and the other 18.1 % Net per annum

most UK property owners yeild between 7-12 % , depending on location, plus this isnt taking in to consideration capital growth which is expected to be 15% over 5 years .

Except property sales are not regulated by the FSA.

[fletchsmile]

Safe is a relative term. No bank is 100% safe

No, but most depositors don't care. They only care about the government guarantee on bank deposits. Otherwise, no bank in Europe of USA would have any depositors

And people also need to bear in mind that government guarantees are not 100% safe either.

Each government has a probability of default. Admittedly some are close to zero, but none are zero

[PattayaParent]

The OP should look into the Government Savings Bank, the recently advertised rate here in CM was 4% about one month ago, I suspect the term was one year although I do not know for certain - typically the GSB rates seem to be a little higher than most other banks.

Also, the 15% tax that is withheld can be reclaimed as long as it falls within guidelines that most retired expats would probably meet, do a search in this forum for details.

Interesting. I could live with 4% return BUT I've been told ONLY Thais can open accounts with the Government Savings Bank. True or false? If I open an account, I want it in MY NAME, and MY NAME ONLY. Can farang open a savings account with the GSB???

That's a bit like the bar stool rumor that TMB accounts are for soldiers only! GSB accounts are for anyone, not just Thai's.

Odd because when I went into the GSB on Pattaya Second Road they told me Farangs cannot open an account.

This was some time ago though so maybe they have changed their policy or it's another case of a bank not knowing what it can do.

[PattayaParent]

If you can leave your cash for 24 months, I can show you an extremely safe investment that will pay you and guarantee you a minimum of 12% per annum + bonuses, and allow you to track your investment 24 hours a day. It also pays your interest at regular intervals along with any bonuses you are due. It is in London and has many built in safeguards to protect your principal amount.. You can lift your cash at any time, but small penalties are paid depending on how long you have been in this investment. It is not Stock market related, or Forex... It is probabaly the best and safest investment in the world..

Regulated by the FSA or Government gauranteed???.....I very much doubt it....please share with us...sounds very similar to many companies that invest in property in highy populated student areas.....if 12% was gauranteed per annum then nobody would be sharing it, they could borrow at 5-7% and make a clear profit for doing nothing...strongly advise against anything like this, have seen people loose their lie savings through these kind of schemes...if its too good to be true..it is!!!

why so many words? one word applies to the scheme "12%+ p.a. / best and safest investment", namely bullshit².

easily achiveable with UK property !

i have 2 uk properties, 1 yeilds around 10% Net, and the other 18.1 % Net per annum

most UK property owners yeild between 7-12 % , depending on location, plus this isnt taking in to consideration capital growth which is expected to be 15% over 5 years .

Except that capital growth in UK has been negative for the last 5 years and is expected to continue to be in the short term.