Mapguy Posted February 18, 2018 Share Posted February 18, 2018 (edited) Now I am thoroughly confused! WIll the REAL Chiang Mai please stand up ! In any case, what is the situation with L&H in Chiang Mai? Edited February 18, 2018 by Mapguy Link to comment Share on other sites More sharing options...
simoh1490 Posted February 18, 2018 Share Posted February 18, 2018 (edited) 4 minutes ago, Mapguy said: Now I am thoroughly confused! In any case, what is the situation with L&H in Chiang Mai? I had the same problems with L&H in CM as you did MG, they gave me the run around wanting this and that so I eventually told them to get stuffed and never went back, this was about two years ago - no reason to believe anything has changed. There's even a branch of TMB on Chan Klan where the manager wont allow farangs to open accounts there without a work permit, the other branch managers know him and just shake their heads when he's mentioned! Stone age enclaves do exist! Edited February 18, 2018 by simoh1490 Link to comment Share on other sites More sharing options...
meatboy Posted February 19, 2018 Share Posted February 19, 2018 my experience in korat is,L&H wanted my passport and any letter confirming my address,[tax TIN id.SCB AND BB were ok.BUT CIMB were that stupid when I told them I live in Thailand,they told me I MUST have an address in the UK. thai gov.savings bank were ok.after they refused me,so the wife phoned head office bkk.yes he can. but all banks make up their own rules to suit themselves. Link to comment Share on other sites More sharing options...
orientalist Posted February 19, 2018 Share Posted February 19, 2018 CIMB can indeed be weird. After two false starts, they set up one of my accounts using the Thai spelling of my name on my tabien baan. No other bank has done this. They expect that Thai name on a withdrawal slip, although my signature is the English version. Seven or eight years ago I tried to open a fixed deposit account with L&H and they told me as a foreigner I would also have to open a savings account with 50K, so I walked out. A few years later, I opened a FD account with tabien baan and put 5K in a special savings account, no problem. Link to comment Share on other sites More sharing options...
BobTH Posted February 19, 2018 Share Posted February 19, 2018 I live in Bangkok, not Chiang Mai. I opened a fixed account at the LH Bank's home office at the Q-house in Lumpini around three years ago using only my passport and rental agreement. The term for the accounts has been from 10 months to a year each time, but as long as I keep renewing the same account no more paper work is required each time I renew. I have no other accounts with them, nor have I been asked to do so. Link to comment Share on other sites More sharing options...
simoh1490 Posted February 20, 2018 Share Posted February 20, 2018 On 19/02/2018 at 10:18 AM, orientalist said: CIMB can indeed be weird. After two false starts, they set up one of my accounts using the Thai spelling of my name on my tabien baan. No other bank has done this. They expect that Thai name on a withdrawal slip, although my signature is the English version. Seven or eight years ago I tried to open a fixed deposit account with L&H and they told me as a foreigner I would also have to open a savings account with 50K, so I walked out. A few years later, I opened a FD account with tabien baan and put 5K in a special savings account, no problem. CIMB is weird, I think the problem is that their systems can't handle the English version of a name where there's also a tabien bahn, Krung Thai had a similar problem a few years ago. Link to comment Share on other sites More sharing options...
speedtripler Posted February 21, 2018 Share Posted February 21, 2018 Which bank offers the best rate on fixed deposits thesedays? Is it possible to get anything over 1.5% ish after the tax..... Link to comment Share on other sites More sharing options...
speedtripler Posted February 21, 2018 Share Posted February 21, 2018 Is 1.9% still valid at Land + Houses bank? Also, if anyone knows, what's the min or max account size they will pay on? Link to comment Share on other sites More sharing options...
BobTH Posted February 21, 2018 Share Posted February 21, 2018 1 hour ago, speedtripler said: Is 1.9% still valid at Land + Houses bank? Also, if anyone knows, what's the min or max account size they will pay on? All bank have different min and max amounts, you would have to look at their website info. Here is a link to the Bank of Thailand information on the banks fixed rates. Once in a while these banks will have a special also that will not show up. I am getting 1.7% on a 12 month fixed at the LH Bank. I get all the taxes on the interest back each year by filing for it with the Thai Tax Office. I have already gotten last years tax back. I get it all back because it's the only income source I have in Thailand and the amount is below the begin taxing threshold. https://www.bot.or.th/english/statistics/financialmarkets/interestrate/_layouts/application/interest_rate/IN_Rate.aspx 2 Link to comment Share on other sites More sharing options...
roobaa01 Posted February 22, 2018 Share Posted February 22, 2018 l&h bank offers fixed deposit 2 % for 36 months, after 15 % tax deduction net 1.7 %. wbr roobaa01 Link to comment Share on other sites More sharing options...
speedtripler Posted February 22, 2018 Share Posted February 22, 2018 8 minutes ago, roobaa01 said: l&h bank offers fixed deposit 2 % for 36 months, after 15 % tax deduction net 1.7 %. wbr roobaa01 Will they accept any amount of cash? Link to comment Share on other sites More sharing options...
meatboy Posted February 22, 2018 Share Posted February 22, 2018 4 minutes ago, speedtripler said: Will they accept any amount of cash? don't forget you get the tax back.the wife has 4mill.x 36months.interest paid monthly into a current acc.i got my extension fixed also 36months.its been in there 6yrs. tax back easlly Link to comment Share on other sites More sharing options...
speedtripler Posted February 22, 2018 Share Posted February 22, 2018 24 minutes ago, meatboy said: don't forget you get the tax back.the wife has 4mill.x 36months.interest paid monthly into a current acc.i got my extension fixed also 36months.its been in there 6yrs. tax back easlly The tax only comes back if you have a combined family income of 180,000thb or something? Is that figure correct? Link to comment Share on other sites More sharing options...
speedtripler Posted February 22, 2018 Share Posted February 22, 2018 25 minutes ago, meatboy said: don't forget you get the tax back.the wife has 4mill.x 36months.interest paid monthly into a current acc.i got my extension fixed also 36months.its been in there 6yrs. tax back easlly Why not compound the interest into the principle monthly? Can they do that? Warren Buffett style... Link to comment Share on other sites More sharing options...
meatboy Posted February 22, 2018 Share Posted February 22, 2018 you can get the tax back if you stick in around 10million but any income you earn if you are working then its added on to the allowance. Link to comment Share on other sites More sharing options...
speedtripler Posted February 22, 2018 Share Posted February 22, 2018 6 hours ago, meatboy said: you can get the tax back if you stick in around 10million but any income you earn if you are working then its added on to the allowance. Im retired but my wife has a job I'm not sure if they would count her salary as my money because it isn't lol Link to comment Share on other sites More sharing options...
davehowden Posted February 22, 2018 Share Posted February 22, 2018 Regarding Withholding Tax, a useful link here: Link to comment Share on other sites More sharing options...
simoh1490 Posted February 22, 2018 Share Posted February 22, 2018 6 hours ago, speedtripler said: Im retired but my wife has a job I'm not sure if they would count her salary as my money because it isn't lol You don't need "other income" to file a tax return and reclaim the tax deducted on savings. I've been retired for years and have been reclaiming tax on savings in Thailand for that time, it's my only income in Thailand. Link to comment Share on other sites More sharing options...
saakura Posted February 24, 2018 Share Posted February 24, 2018 On 22/02/2018 at 2:20 PM, roobaa01 said: l&h bank offers fixed deposit 2 % for 36 months, after 15 % tax deduction net 1.7 %. wbr roobaa01 Why not invest in relatively safe mutual funds which will get about 3%, like the K-Bank fund that invests only in government bonds, class A debentures, physical gold etc. The principal should be quite safe. This is provided you dont need this for your " retirement visa deposit" 1 Link to comment Share on other sites More sharing options...
simoh1490 Posted February 24, 2018 Share Posted February 24, 2018 4 hours ago, saakura said: Why not invest in relatively safe mutual funds which will get about 3%, like the K-Bank fund that invests only in government bonds, class A debentures, physical gold etc. The principal should be quite safe. This is provided you dont need this for your " retirement visa deposit" Because the fees are too high here, 1% in and 1% out, plus plus. 1 Link to comment Share on other sites More sharing options...
denby45 Posted March 5, 2018 Share Posted March 5, 2018 (edited) ICBC Bank will issue a Subordinated Debenture (10years) this month but as usual with banks there is nowhere can I find the coupon rate online. They give a number for more information but the person I spoke to had no idea what I was talking about. 55555 http://www.icbc.com.cn/ICBC/海外分行/工银泰国网站/en/aboutus/announcement/ICBCThaitoissueTier2SubordinatedDebenturesthisMarch.htm?1=1&Ad_Source=主图_工银泰国英文首页_690_300 In short does anyone know what the coupon rate will be.? I Know that ICBC bank is rated AAA so they are supposed to be pretty safe. Den Edited March 5, 2018 by denby45 Link to comment Share on other sites More sharing options...
simoh1490 Posted March 5, 2018 Share Posted March 5, 2018 32 minutes ago, denby45 said: ICBC Bank will issue a Subordinated Debenture (10years) this month but as usual with banks there is nowhere can I find the coupon rate online. They give a number for more information but the person I spoke to had no idea what I was talking about. 55555 http://www.icbc.com.cn/ICBC/海外分行/工银泰国网站/en/aboutus/announcement/ICBCThaitoissueTier2SubordinatedDebenturesthisMarch.htm?1=1&Ad_Source=主图_工银泰国英文首页_690_300 In short does anyone know what the coupon rate will be.? I Know that ICBC bank is rated AAA so they are supposed to be pretty safe. Den Kasikorn is the aranger so perhaps they will know, but expect them to be sold/allocated long before the issue date. Link to comment Share on other sites More sharing options...
Oxx Posted March 5, 2018 Share Posted March 5, 2018 31 minutes ago, denby45 said: ICBC Bank will issue a Subordinated Debenture (10years) this month but as usual with banks there is nowhere can I find the coupon rate online. Not that hard to find. (It's on the front page of the Bangkok Bank website.). The expected rate is 3.5%. http://www.bangkokbank.com/BangkokBank/PersonalBanking/BuildYourWealth/InvestmentsAndDeposits/Bonds/Pages/ICBCT.aspx The issue is rated AA+ by Fitch Ratings (Thailand). Note this is a local rating. Link to comment Share on other sites More sharing options...
denby45 Posted March 5, 2018 Share Posted March 5, 2018 45 minutes ago, Oxx said: Not that hard to find. (It's on the front page of the Bangkok Bank website.). The expected rate is 3.5%. http://www.bangkokbank.com/BangkokBank/PersonalBanking/BuildYourWealth/InvestmentsAndDeposits/Bonds/Pages/ICBCT.aspx The issue is rated AA+ by Fitch Ratings (Thailand). Note this is a local rating. Thanks Oxx, I am with Kassikorn and I can't find anything on their website. Den Link to comment Share on other sites More sharing options...
evadgib Posted March 7, 2018 Share Posted March 7, 2018 Mods: feel free to move these British links if there's a better place for them. https://www.gov.uk/government/news/hmrc-warns-offshore-tax-dodgers https://www.gov.uk/government/news/changes-to-uk-anti-money-laundering-measures https://www.gov.uk/government/news/independent-review-of-the-co-operative-bank-launched Link to comment Share on other sites More sharing options...
topt Posted March 12, 2018 Share Posted March 12, 2018 On 3/7/2018 at 3:42 PM, evadgib said: Mods: feel free to move these British links if there's a better place for them. https://www.gov.uk/government/news/hmrc-warns-offshore-tax-dodgers https://www.gov.uk/government/news/changes-to-uk-anti-money-laundering-measures https://www.gov.uk/government/news/independent-review-of-the-co-operative-bank-launched Would make more sense under a separate heading in the Home Country forum............? Link to comment Share on other sites More sharing options...
MadMac Posted March 15, 2018 Share Posted March 15, 2018 My 2y 2.6% fixed deposit with Islamic Bank matured this week and I closed it. Islamic Bank in the moment only offers shorter term deposits which are: 4 months: 1.4% 7 months: 1.5% Nothing other than that, so this last high interest paying option is also gone now. Link to comment Share on other sites More sharing options...
JimGant Posted April 28, 2018 Share Posted April 28, 2018 Quote so this last high interest paying option is also gone now. Apparently the caliph ruled it usurious. Link to comment Share on other sites More sharing options...
Oxx Posted April 28, 2018 Share Posted April 28, 2018 On 3/15/2018 at 6:54 PM, MadMac said: this last high interest paying option is also gone now. These were never products paying interest. For "wadiah" products, the lender is only entitled to the original amount back. Any additional payment is an optional "gift". and for "mudarabah" products, what went on behind the scenes was that your money is used to finance trading transactions. If those transactions don't work out, you don't get your money back. These are riskier products than conventional bank offerings. Link to comment Share on other sites More sharing options...
denby45 Posted April 28, 2018 Share Posted April 28, 2018 6 minutes ago, Oxx said: These were never products paying interest. For "wadiah" products, the lender is only entitled to the original amount back. Any additional payment is an optional "gift". and for "mudarabah" products, what went on behind the scenes was that your money is used to finance trading transactions. If those transactions don't work out, you don't get your money back. These are riskier products than conventional bank offerings. Is that correct? I was actually looking into that.Didn't know there was risk involved. I remember they were stating interest and not profit rate as an Islamic Bank normally would. Den Link to comment Share on other sites More sharing options...
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