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

Edited March 13, 201214 yr by highchol

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

Edited March 13, 201214 yr by highchol

It is a 13 month stepped product which increases the interest rate every three months until you receive 8% for the 13th month. effective rate is around 3.5% for 13 months.

http://www.kasikornbank.com/EN/RatesAndFees/Deposit/Pages/Deposit.aspx

ok thanks, thought it sounded too good.

ok thanks, thought it sounded too good.

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

Edited March 13, 201214 yr by CharlieH

ok thanks, thought it sounded too good.

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.

ok thanks, thought it sounded too good.

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.

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

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

555

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.

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

Typo in title fixed.

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.

Edited March 15, 201214 yr by Naam

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?

If you want a good GBP rate, Lloyds TSB International is offering 4.5 % on a 5 year fixed rate account, and 4% on a 3 year.

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

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

Typo in title fixed.

thanks

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

At 3.5% not even a faint tinkle.

Edited March 16, 201214 yr by highchol

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

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.

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.

Yes it does.

http://www.bangkokbank.com/Bangkok%20Bank/Web%20Services/Rates/Pages/Deposit%20Rates.aspx

Bangkok Bank are offering the worst rates at the moment.

Try Krungsri.

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?

Edited March 30, 201214 yr by panork

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)