Jump to content

Recommended Posts

Posted

Kasikorn are advertising 8% on fixed term savings over 13months, has any one taken up the offer or have any more details?. The flyers are all in Thai and I cant read.

8% sounds too good, is there a catch?

thanks smile.png

Posted

ok thanks, thought it sounded too good. sad.png

And don't forget you lose 15% of interest earned to tax too !

Not necessarily, you can claim this back by submitting a tax return.

Posted

ok thanks, thought it sounded too good. sad.png

And don't forget you lose 15% of interest earned to tax too !

Not necessarily, you can claim this back by submitting a tax return.

I think you only have tax withheld when earning more than 20K baht/year on a deposit. Earn less than 20K baht interest and no tax is withheld.

Posted

I think you only have tax withheld when earning more than 20K baht/year on a deposit. Earn less than 20K baht interest and no tax is withheld.

My understanding from Bangkok Bank and SCB is that no tax is deducted on ordinary savings accounts, so long as you don't earn more than 20,000 baht interest a year. However with fixed term/rate accounts, tax at 15 percent is deducted - which I believe, yes, you can claim back.

Most posts on this thread are talking about annual interest rates in the region of 3 percent. I think those are fixed term/rate accounts.

Posted

I think you only have tax withheld when earning more than 20K baht/year on a deposit. Earn less than 20K baht interest and no tax is withheld.

My understanding from Bangkok Bank and SCB is that no tax is deducted on ordinary savings accounts, so long as you don't earn more than 20,000 baht interest a year. However with fixed term/rate accounts, tax at 15 percent is deducted - which I believe, yes, you can claim back.

Most posts on this thread are talking about annual interest rates in the region of 3 percent. I think those are fixed term/rate accounts.

alternatives are Money Market Funds, offered by most Thai banks, which yield presently 3.25% on 3 and 6-months maturities, interest paid tax free, no limit.

Posted

I think you only have tax withheld when earning more than 20K baht/year on a deposit. Earn less than 20K baht interest and no tax is withheld.

My understanding from Bangkok Bank and SCB is that no tax is deducted on ordinary savings accounts, so long as you don't earn more than 20,000 baht interest a year. However with fixed term/rate accounts, tax at 15 percent is deducted - which I believe, yes, you can claim back.

Most posts on this thread are talking about annual interest rates in the region of 3 percent. I think those are fixed term/rate accounts.

alternatives are Money Market Funds, offered by most Thai banks, which yield presently 3.25% on 3 and 6-months maturities, interest paid tax free, no limit.

Are all branches capable of providing a Money Market Fund account or only main branches?

Posted

I think you only have tax withheld when earning more than 20K baht/year on a deposit. Earn less than 20K baht interest and no tax is withheld.

My understanding from Bangkok Bank and SCB is that no tax is deducted on ordinary savings accounts, so long as you don't earn more than 20,000 baht interest a year. However with fixed term/rate accounts, tax at 15 percent is deducted - which I believe, yes, you can claim back.

Most posts on this thread are talking about annual interest rates in the region of 3 percent. I think those are fixed term/rate accounts.

alternatives are Money Market Funds, offered by most Thai banks, which yield presently 3.25% on 3 and 6-months maturities, interest paid tax free, no limit.

Are all branches capable of providing a Money Market Fund account or only main branches?

Siam Commercial and Kasikorn = yes

Posted

also any advice on how to edit typos in header ( latest ) smile.png

Typo in title fixed.

thanks smile.png

at 8% rate the retirement bells were ringing loudly, albeit biefly. :)

At 3.5% not even a faint tinkle. :(

  • 2 weeks later...
Posted

Siam Commerical Bank currently has a 555 day deposit paying 5.55% (that is an annual rate of 3.65%)

Anyone heard of a better short-term fixed deposit account paying better than this?

Old account maturing later this week.

Thanks, CMMCB

Posted

I have a Bangkok Bank FD due next month. Is anybody aware of special promotional rates offered by the Bank? I currently have access only to the website, which offers no relevant information.

Posted

Thanks 12DrinkMore

I do have the rates on the BangkokBank website and they are comparatively low. When I spoke to Bank staff earlier this month, they indicated that they might have a "promotion" coming up. This is what I am enquiring about. I am currently not in Thailand and promotional rates are not necessarily shown on the bank websites. I have an arrangement with the branch manager to renew my deposit next month in my absence and cannot switch to another bank.

In any case, I have unsuccessfuly tried to open a Krungsri Thai Baht account without a long-term visa, in both Bangkok and Pattaya. Has anybody had a better experience?

Posted

The updated BBL promotional rate is now on their website. In fact it's very similar to their last promotion which expired on 21/3:-

2.625% p.a. for a 4 month term (promotion ends 23/4)

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.



×
×
  • Create New...