marino28 Posted January 27, 2016 Share Posted January 27, 2016 Regarding the No fixed account i diden't know that need to increase the amount every month thanks for the info Link to comment Share on other sites More sharing options...
Henryford Posted January 29, 2016 Share Posted January 29, 2016 Best i could find was 1.9% with TMB, no fixed time period can withdraw when you like. And I think, only two withdrawals a month - it's a teaser product, not fixed so it can disappear at the drop of a hat and it surely will do that. TMB's no fixed is one of their core deposit products, rather than a teaser. Like ME from TMB - very good rates but for Thais only - it's part of their deposit led strategy. It should continue to be a competitive interest rate for a savings account with no "fixed term",There's no restrictions on withdrawals. Their "no fee" account has a limit of 20 transactions per month though, but is a much lower "transactional" rather than "investment" (as they classify them) savings account. Need to bear in mind that the 1.9% includes a bonus of 0.4%. To get this someone needs to increase their balance each month. Not that difficult just top it up with a small amount each month. Their ME account is a brand within TMB available only at 5 main branches, and pays 2.55% including a bonus of 0.55%. Available to Thai nationals and online only. It's probably about the best instant access savings rate around (as opposed to fixed / term deposits). My wife has this. I have the "no-fixed". Both have been consistently up there for quite some time and as core products rather than promos are much less likely to disappear. What happens if you make a withdrawal during the month, do you only get 1.5% for that month? Link to comment Share on other sites More sharing options...
fletchsmile Posted January 29, 2016 Share Posted January 29, 2016 (edited) For ME (Thais only) I believe it's the month end balance that counts. So you could withdraw 2000 baht on first day and as long as you put 2001 before the end you'd get the bonus For "no-fixed" I believe it works on average balance. So you could make withdrawals and still get the bonus provided you added more on a weighted average basis. So 2000 withdrawal on day 1 and 2001 deposit on day 29 wouldn't work, as you'd have say 28 days lower balance by 2000 and 2 days higher by 2001, so the average is lower. Actually I think you get the bonus if your amount is the same on average, and just don't get the bonus if lower. If you make a lot of withdrawals and deposits I guess it gets trickier. But bear in mind its designed as a savings account rather than transactional account. So while the odd withdrawal is OK, it's not the right sort of account for regular day to day use and withdrawals. I basically stick money in it I rarely touch, and top up a little, and have other accounts for withdrawals. StanCharts eSaver for example pays 1.75% on whatever your outstanding balance is each day. So you can withdraw and deposit as much as you want - but online only for that one. They send you an sms just after the month end saying "congratulations, you get interest rate plus bonus on your account.... " Edited January 29, 2016 by fletchsmile Link to comment Share on other sites More sharing options...
marino28 Posted January 31, 2016 Share Posted January 31, 2016 (edited) For ME (Thais only) I believe it's the month end balance that counts. So you could withdraw 2000 baht on first day and as long as you put 2001 before the end you'd get the bonus For "no-fixed" I believe it works on average balance. So you could make withdrawals and still get the bonus provided you added more on a weighted average basis. So 2000 withdrawal on day 1 and 2001 deposit on day 29 wouldn't work, as you'd have say 28 days lower balance by 2000 and 2 days higher by 2001, so the average is lower. Actually I think you get the bonus if your amount is the same on average, and just don't get the bonus if lower. If you make a lot of withdrawals and deposits I guess it gets trickier. But bear in mind its designed as a savings account rather than transactional account. So while the odd withdrawal is OK, it's not the right sort of account for regular day to day use and withdrawals. I basically stick money in it I rarely touch, and top up a little, and have other accounts for withdrawals. StanCharts eSaver for example pays 1.75% on whatever your outstanding balance is each day. So you can withdraw and deposit as much as you want - but online only for that one. They send you an sms just after the month end saying "congratulations, you get interest rate plus bonus on your account.... " ok so you get the bonus also if the balance is the same ? My idea was just to put an amount at don't touch it again. also maybe you know i was thinking to get a secured credit card with tmb. actually i don't have a work permit, but i have a sucred credit card with krungsri. I wanted to add another one becose i see that tmb give back 1% of what you spend and also look like there are not conversion fee if you use it abroad (but i am not sure about this last point) https://www.tmbbank.com/en/cards/credit-cards/tmb-sosmart-card.html i will chek on monday if they can make a secured credit card. thanks Edited January 31, 2016 by marino28 Link to comment Share on other sites More sharing options...
fletchsmile Posted February 1, 2016 Share Posted February 1, 2016 ok so you get the bonus also if the balance is the same ? My idea was just to put an amount at don't touch it again. also maybe you know i was thinking to get a secured credit card with tmb. actually i don't have a work permit, but i have a sucred credit card with krungsri. I wanted to add another one becose i see that tmb give back 1% of what you spend and also look like there are not conversion fee if you use it abroad (but i am not sure about this last point) https://www.tmbbank.com/en/cards/credit-cards/tmb-sosmart-card.html i will chek on monday if they can make a secured credit card. thanks I checked and for "no fixed" existing customers it's based on average balance being equal to or higher than the existing month. For new customers I believe there's a 2 month period where that condition doesn't apply and you still get the bonus. Yes TMB give me 1% cashback on all CC purchases as you mention. I think there's a maximum on that though. There's no fee on the CC either - a common feature of their credit cards. 1 Link to comment Share on other sites More sharing options...
marino28 Posted February 3, 2016 Share Posted February 3, 2016 (edited) ok, so i succesfull open a no fixed account and if i understand correct if less then 20.000 thb a year of interest they will not collect any tax. I also enquiry for a secured credit card, but i was not lucky.... i think i have to try another branch. Anyone know if Tmb allow to have a secured credit card without work permit? thanks Edited February 3, 2016 by marino28 Link to comment Share on other sites More sharing options...
Henryford Posted February 3, 2016 Share Posted February 3, 2016 ok so you get the bonus also if the balance is the same ? My idea was just to put an amount at don't touch it again. also maybe you know i was thinking to get a secured credit card with tmb. actually i don't have a work permit, but i have a sucred credit card with krungsri. I wanted to add another one becose i see that tmb give back 1% of what you spend and also look like there are not conversion fee if you use it abroad (but i am not sure about this last point) https://www.tmbbank.com/en/cards/credit-cards/tmb-sosmart-card.html i will chek on monday if they can make a secured credit card. thanks I checked and for "no fixed" existing customers it's based on average balance being equal to or higher than the existing month. For new customers I believe there's a 2 month period where that condition doesn't apply and you still get the bonus. Yes TMB give me 1% cashback on all CC purchases as you mention. I think there's a maximum on that though. There's no fee on the CC either - a common feature of their credit cards. I opened a TMB no fixed account a couple of months ago but my pass book shows no interest credited since then. When i asked they said the pass books are only updated every six months !!! Sounds a bit strange when every other bank updates every month. Has anyone got a TMB account, does it update every six months with the correct 1.9% ? If not i have to wait six months to change the account. Link to comment Share on other sites More sharing options...
TheCruncher Posted February 3, 2016 Share Posted February 3, 2016 ok, so i succesfull open a no fixed account and if i understand correct if less then 20.000 thb a year of interest they will not collect any tax. I also enquiry for a secured credit card, but i was not lucky.... i think i have to try another branch. Anyone know if Tmb allow to have a secured credit card without work permit? thanks I inquired today at TMB about a credit card without work permit, I don't have an account with TMB yet, and was told that I needed to put money in a fixed account and could use my credit card to the amount of 10% of the deposited sum. It may be a misunderstanding as I think that is a strange rule. Link to comment Share on other sites More sharing options...
chiang mai Posted February 3, 2016 Author Share Posted February 3, 2016 ok, so i succesfull open a no fixed account and if i understand correct if less then 20.000 thb a year of interest they will not collect any tax. I also enquiry for a secured credit card, but i was not lucky.... i think i have to try another branch. Anyone know if Tmb allow to have a secured credit card without work permit? thanks I inquired today at TMB about a credit card without work permit, I don't have an account with TMB yet, and was told that I needed to put money in a fixed account and could use my credit card to the amount of 10% of the deposited sum. It may be a misunderstanding as I think that is a strange rule. All Thai banks require a locked deposit in order to issue a credit card to those not holding a work permit, a deposit of 3 million Baht is not unusual with a credit limit that is far less than that. Link to comment Share on other sites More sharing options...
TheCruncher Posted February 3, 2016 Share Posted February 3, 2016 ok, so i succesfull open a no fixed account and if i understand correct if less then 20.000 thb a year of interest they will not collect any tax. I also enquiry for a secured credit card, but i was not lucky.... i think i have to try another branch. Anyone know if Tmb allow to have a secured credit card without work permit? thanks I inquired today at TMB about a credit card without work permit, I don't have an account with TMB yet, and was told that I needed to put money in a fixed account and could use my credit card to the amount of 10% of the deposited sum. It may be a misunderstanding as I think that is a strange rule. All Thai banks require a locked deposit in order to issue a credit card to those not holding a work permit, a deposit of 3 million Baht is not unusual with a credit limit that is far less than that. Yes I know banks require a locked deposit if you don't have a workpermit, but Kasikorn told me that the credit limit is equal to the amount deposited. TMB told me 1 Million deposit will give me a credit limit of 100K, which I think is over the top. Link to comment Share on other sites More sharing options...
JAS21 Posted February 3, 2016 Share Posted February 3, 2016 TheCruncher, on 03 Feb 2016 - 20:02, said: chiang mai, on 03 Feb 2016 - 19:51, said: TheCruncher, on 03 Feb 2016 - 19:30, said: marino28, on 03 Feb 2016 - 13:23, said: ok, so i succesfull open a no fixed account and if i understand correct if less then 20.000 thb a year of interest they will not collect any tax. I also enquiry for a secured credit card, but i was not lucky.... i think i have to try another branch. Anyone know if Tmb allow to have a secured credit card without work permit? thanks I inquired today at TMB about a credit card without work permit, I don't have an account with TMB yet, and was told that I needed to put money in a fixed account and could use my credit card to the amount of 10% of the deposited sum. It may be a misunderstanding as I think that is a strange rule. All Thai banks require a locked deposit in order to issue a credit card to those not holding a work permit, a deposit of 3 million Baht is not unusual with a credit limit that is far less than that. Yes I know banks require a locked deposit if you don't have a workpermit, but Kasikorn told me that the credit limit is equal to the amount deposited. TMB told me 1 Million deposit will give me a credit limit of 100K, which I think is over the top. My Credit Card is with Bangkok Bank. 100,000thb locked in a savings account and 100,000thb available to spend. ALSO CIMB still have 1.8% on their Current Account if you keep more that 1Mthb in. It doesn't count towards CIMB Preferred though. Hopefully my internet banking with them will appear soon. Link to comment Share on other sites More sharing options...
meatboy Posted February 3, 2016 Share Posted February 3, 2016 ok so you get the bonus also if the balance is the same ? My idea was just to put an amount at don't touch it again. also maybe you know i was thinking to get a secured credit card with tmb. actually i don't have a work permit, but i have a sucred credit card with krungsri. I wanted to add another one becose i see that tmb give back 1% of what you spend and also look like there are not conversion fee if you use it abroad (but i am not sure about this last point) https://www.tmbbank.com/en/cards/credit-cards/tmb-sosmart-card.html i will chek on monday if they can make a secured credit card. thanks I checked and for "no fixed" existing customers it's based on average balance being equal to or higher than the existing month. For new customers I believe there's a 2 month period where that condition doesn't apply and you still get the bonus. Yes TMB give me 1% cashback on all CC purchases as you mention. I think there's a maximum on that though. There's no fee on the CC either - a common feature of their credit cards. I opened a TMB no fixed account a couple of months ago but my pass book shows no interest credited since then. When i asked they said the pass books are only updated every six months !!! Sounds a bit strange when every other bank updates every month. Has anyone got a TMB account, does it update every six months with the correct 1.9% ? If not i have to wait six months to change the account. all the banks that we have non fixed accs.credit the tax twice a yr.first week in july and january. Link to comment Share on other sites More sharing options...
KittenKong Posted February 4, 2016 Share Posted February 4, 2016 I opened a TMB no fixed account a couple of months ago but my pass book shows no interest credited since then. When i asked they said the pass books are only updated every six months !!! Sounds a bit strange when every other bank updates every month. Has anyone got a TMB account, does it update every six months with the correct 1.9% ? If not i have to wait six months to change the account. On those accounts TMB calculate interest monthly but apply it twice yearly or yearly, as do some other banks. This wont stop you changing/closing an account but it does make it difficult to be sure exactly what interest they are paying you. I closed my TMB no-fixed account because I found it tedious to keep up with the rules and requirements. KrungSri apply interest monthly to their Mee Tae Dai savings account which pays nearly as much as the TMB no-fixed account but doesnt have any of the complex rules. With them you know exactly where you are. Link to comment Share on other sites More sharing options...
Henryford Posted February 4, 2016 Share Posted February 4, 2016 I opened a TMB no fixed account a couple of months ago but my pass book shows no interest credited since then. When i asked they said the pass books are only updated every six months !!! Sounds a bit strange when every other bank updates every month. Has anyone got a TMB account, does it update every six months with the correct 1.9% ? If not i have to wait six months to change the account. On those accounts TMB calculate interest monthly but apply it twice yearly or yearly, as do some other banks. This wont stop you changing/closing an account but it does make it difficult to be sure exactly what interest they are paying you. I closed my TMB no-fixed account because I found it tedious to keep up with the rules and requirements. KrungSri apply interest monthly to their Mee Tae Dai savings account which pays nearly as much as the TMB no-fixed account but doesnt have any of the complex rules. With them you know exactly where you are. Yes i agree Krungsri are much better but i already have an account with them. I didn't want to put all my cash in one bank. It will just be difficult to check the interest when i do get it. Link to comment Share on other sites More sharing options...
falang07 Posted February 4, 2016 Share Posted February 4, 2016 2.1% in CIMB: http://www.cimbthai.com/CIMB/en/personal/promotion/deposit/8month-speedsaving_feb2016/ Link to comment Share on other sites More sharing options...
chiang mai Posted February 4, 2016 Author Share Posted February 4, 2016 2.1% in CIMB: http://www.cimbthai.com/CIMB/en/personal/promotion/deposit/8month-speedsaving_feb2016/ Not as attractive as it may seem, yes you get 2.1% on the fixed rate but you ALSO have to deposit a minimum of 800,000 into a speed savings account at 0.8%, overall the interest rate is far less than the head line rate. So no, it's not really 2.10% as they claim. Link to comment Share on other sites More sharing options...
falang07 Posted February 4, 2016 Share Posted February 4, 2016 No, I was there and did it myself, you just deposit anything over 50,000 THB, no need to deposit anything on "speed savings. Link to comment Share on other sites More sharing options...
falang07 Posted February 4, 2016 Share Posted February 4, 2016 From the site: "Minimum deposit amount of THB 50,000 and maximum of THB 8,000,000 for fixed deposit account" "Minimum deposit amount of THB 800,000 for Speed Savings account" So for fixed deposit, minimum is 50,000 only. Link to comment Share on other sites More sharing options...
chiang mai Posted February 4, 2016 Author Share Posted February 4, 2016 For new Speed Savings account opening with minimum deposit of THB 800,000Or deposit THB 800,000 at minimum to existing Speed Savings account Minimum deposit amount of THB 50,000 and maximum of THB 8,000,000 for fixed deposit account Minimum deposit amount of THB 800,000 for Speed Savings account For individuals, groups of persons, temples or churches. Interest payable upon maturity or monthly. Period: 1 - 29 Feb 16. Link to comment Share on other sites More sharing options...
prepress Posted February 4, 2016 Share Posted February 4, 2016 Sorry, if it has been asked already: Which banks offer the best interest rates for THAI citizen?Preferable a short term fixed deposits, where all further transactions can be done online.I noticed some Thai bank signs offer 3% and more. Link to comment Share on other sites More sharing options...
chiang mai Posted February 4, 2016 Author Share Posted February 4, 2016 Sorry, if it has been asked already: Which banks offer the best interest rates for THAI citizen? Preferable a short term fixed deposits, where all further transactions can be done online. I noticed some Thai bank signs offer 3% and more. A short term fix for a Thai might see them get 1.9% for around 8 months, anything that is advertised at 3% is either not a fixed deposit (more likely an insurance based product) or is an interest step account whereby the interest increases over the term of the fix, starting from a very low point the higher rate is used in advertising to attract customers. 1 Link to comment Share on other sites More sharing options...
KittenKong Posted February 4, 2016 Share Posted February 4, 2016 From the site: "Minimum deposit amount of THB 50,000 and maximum of THB 8,000,000 for fixed deposit account" "Minimum deposit amount of THB 800,000 for Speed Savings account" So for fixed deposit, minimum is 50,000 only. Even CIMB staff dont understand their product rules! I was there today as I had a maturing TD to take care of. I saw that all rates had crept up a tad since last month and so I rolled over my TD to 2.0% for 5 months. This is available to any preferred customer with no other special conditions. 2.1% for 12 months was also possible. I have another CIMB TD that matures later this month. Not sure what I will do with that one at the moment. Link to comment Share on other sites More sharing options...
trajan Posted February 4, 2016 Share Posted February 4, 2016 opened a fixed 1 year account at LH Bank (B1mil) yesterday....2.25% per annum (gross before taxes) Link to comment Share on other sites More sharing options...
fletchsmile Posted February 6, 2016 Share Posted February 6, 2016 Sorry, if it has been asked already: Which banks offer the best interest rates for THAI citizen? Preferable a short term fixed deposits, where all further transactions can be done online. I noticed some Thai bank signs offer 3% and more. Very unlikely you'll get 3% on a short term TD. My wife has ME by TMB. Pays 2.55% including bonus, which to get that you need to increase your balance slightly each month. All online. Instant access. Link to comment Share on other sites More sharing options...
MO2MEN Posted February 6, 2016 Share Posted February 6, 2016 Best i could find was 1.9% with TMB, no fixed time period can withdraw when you like. if i put 1.5 million baht i will take interest rate about 30000 baht per month Link to comment Share on other sites More sharing options...
TheCruncher Posted February 6, 2016 Share Posted February 6, 2016 Best i could find was 1.9% with TMB, no fixed time period can withdraw when you like. if i put 1.5 million baht i will take interest rate about 30000 baht per month 30.000 A YEAR sir. Link to comment Share on other sites More sharing options...
jpinx Posted February 7, 2016 Share Posted February 7, 2016 (edited) Krungsri offerings -- some well over 2% but some conditions might apply. You never really know unless you can read and understand their small-print... https://www.krungsri.com/bank/getmedia/4efc96ba-413f-4a11-89ff-ce84cf8669e7/Deposit-Rates-29012016.aspx Also for foreign currency - US$ etc,,, https://www.krungsri.com/bank/getmedia/a78db42a-d322-4836-9454-c78178885405/Foreign-Rates-05062015.aspx Edited February 7, 2016 by jpinx Link to comment Share on other sites More sharing options...
KittenKong Posted February 7, 2016 Share Posted February 7, 2016 Krungsri offerings -- some well over 2% but some conditions might apply. You never really know unless you can read and understand their small-print... https://www.krungsri.com/bank/getmedia/4efc96ba-413f-4a11-89ff-ce84cf8669e7/Deposit-Rates-29012016.aspx I'm quite good on small print and I believe that all those high rates are for products that are no longer available to purchase (ie 10-month TDs that were withdrawn from sale in May 2015). I'm still getting 3.5% on a CIMB 14-month TD bought in 2014. Link to comment Share on other sites More sharing options...
TheCruncher Posted February 7, 2016 Share Posted February 7, 2016 Krungsri offerings -- some well over 2% but some conditions might apply. You never really know unless you can read and understand their small-print... https://www.krungsri.com/bank/getmedia/4efc96ba-413f-4a11-89ff-ce84cf8669e7/Deposit-Rates-29012016.aspx Also for foreign currency - US$ etc,,, https://www.krungsri.com/bank/getmedia/a78db42a-d322-4836-9454-c78178885405/Foreign-Rates-05062015.aspx Wow, I see special time deposit 10 month >10 million at 2.6%. Doesn't look very healthy to me when such interests are offered. Link to comment Share on other sites More sharing options...
jpinx Posted February 7, 2016 Share Posted February 7, 2016 Krungsri offerings -- some well over 2% but some conditions might apply. You never really know unless you can read and understand their small-print... https://www.krungsri.com/bank/getmedia/4efc96ba-413f-4a11-89ff-ce84cf8669e7/Deposit-Rates-29012016.aspx Also for foreign currency - US$ etc,,, https://www.krungsri.com/bank/getmedia/a78db42a-d322-4836-9454-c78178885405/Foreign-Rates-05062015.aspx Wow, I see special time deposit 10 month >10 million at 2.6%. Doesn't look very healthy to me when such interests are offered. Agreed - - but having said that - The devil will be in the detail of the conditions for that account.. Link to comment Share on other sites More sharing options...
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