anyone know if these time deposit rates can be improved ?

Standard Chartered Bank in Thailand.....

note time deposit..special offer of 4.25%--5.25 % note the catch that you have to open a deposit AND saving account.

copied is an email i recieved from them...

( this is not an advertisement on my part btw...i've nothing to do with them..not even a customer at this point)

"MaxSaver Account

(Long Term Time Deposit plus Savings Account)

Target Customers

1. Working people – medium to high level of employees who have no time to manage their money

· Age: 30-60 yrs,

· Middle to top management level for employees or professional such as doctor, engineer

2. Wealthy people – who has plentiful cash and liquidity and are looking for investment products

· Age: >45 yrs, or retirement

· Interest is the major source of income)

New Bundled Products

Offer high 24mth, 36mth, 48mth, and 60mth fixed deposit interest rate on monthly interest rate received category with high savings account interest rate

Time Deposit

Tenor Current Interest Rate New Interest Rate

24-month 3.05% 4.25%

36-month 3.35% 4.50%

48-month 4.20% 5.00%

60-month 4.30% 5.25%

Note: No Special Interest Rate is allowed.

Savings Account

Deposit Amount Tier (THB) New Interest Rate

Below 500,000 1.20%

500,001 - 1,000,000 1.40%

1,000,001 and up 1.50%

Conditions:

1. Customer has to open both fixed deposit and savings account with the following amounts for both fixed deposit and savings account.

Fixed Deposit Amount (THB) Savings Account Amount (THB)

100,000 – 999,999 20,000

1,000,000 – 4,999,999 100,000

5,000,000 – 10,000,000 150,000

2. Customer has to close savings account if he/ she close fixed deposit.

3. If savings account period end balance at month end is lower than THB 20,000, THB 100,000, THB 150,000. Account Maintenance Fee of THB 100 will be charged to that savings account.

4. Account Maintenance Fee will be posted to customer savings account on monthly basis.

Marketing Promotion Program

Offer cash rebate based on time deposit tenor

Tenor Cash Rebate per THB 1 million

24-month 1,500

36-month 1,800

48-month 2,000

60-month 2,200

Cash Rebate will be credited to customer’s savings account 2 weeks after the promotion program is ended.

Program Period

New Bundled Products

4 November 2005 onwards

Marketing Promotion Program

4 November 2005 – 31 December 2005"

This is really interesting. I am learning so much. Thanks to all of you.

What about the papers? What documents do you need to open an account?

Some remarks :

-tenore : way tooooooooooooo long.

HSBC in Hong Kong offer tenores of 1 week. Banks in Singapore : 1 month.

Who could make a bet on interest rate in Thailand over a 60 month period of time, or even 24 month ? ! Only fools.

And for 5.25% only ?....

-taxes

Thailand has withholding tax of 15 % on interest. Why bother ? Singapore = 0 %.

Edited March 18, 200620 yr by cclub75