Bank Savings Interest Rates

[Supertuktuk]

I couldn' t open Mee Tae Dai account as the local branch of bank of Ayudhya told me this account is just for Thai...so bulllshit... L&H Bank any good? This Bank have a similar account at 2,90 % and Fixed 12 months at 3,35 %

[chiang mai]

L & H bank is Land and House, the property development company, deposits there are still covered by the BOT deposit protection scheme - are they any good, up to you!

[mania]

I couldn' t open Mee Tae Dai account as the local branch of bank of Ayudhya told me this account is just for Thai...so bulllshit... L&H Bank any good? This Bank have a similar account at 2,90 % and Fixed 12 months at 3,35 %

Might try a different branch of Ayudhya

I have two MTD accounts with them & am not Thai

On L&H bank I am sure they are fine but have never seen a similar to MTD type account.

The one they have 2.8% is a stepper account

They have a 2.9% 12 month lock too.

Unless they have a non-fixed 2.9 that I have not seen?

The nice thing about the MTD accounts have always been that they are not fixed time wise

can be used for Visa extensions & are not taxed like fixed accounts. Until you reach 20k baht in one year

of interest at which time you can just move it & not be taxed anyway

Edited April 22, 2013 by mania

[Supertuktuk]

I couldn' t open Mee Tae Dai account as the local branch of bank of Ayudhya told me this account is just for Thai...so bulllshit... L&H Bank any good? This Bank have a similar account at 2,90 % and Fixed 12 months at 3,35 %

Might try a different branch of AyudhyaI have two MTD accounts with them & am not Thai :)On L&H bank I am sure they are fine but have never seen a similar to MTD type account.The one they have 2.8% is a stepper accountThey have a 2.9% 12 month lock too.Unless they have a non-fixed 2.9 that I have not seen?The nice thing about the MTD accounts have always been that they are not fixed time wisecan be used for Visa extensions & are not taxed like fixed accounts. Until you reach 20k baht in one yearof interest at which time you can just move it & not be taxed anyway

Bank of Ayudhya....no way , I tried different branch but they answer the same way " It's just for Thai!" .. I do believe you have MTD account as the Banks say a lot of bulllshit ... different province different rules... Time ago I tried to open a Bank account at Kasikorn , no way they were asking for a work permit, I have many friends in Pattaya they opened Bank account at Kasikorn even with a simple 30 days VISA or tourist VISA and hotel address!!!!

Land and House Bank, this is a quite new here, they just opened a new branch inside Central Plaza, another is in the city, I don't know if this is a local promotion but they are advertising 3,35 % fix one year and 2,90 % special saving no tax, I didn't step in but maybe I will try to get more info next time .

Edited April 22, 2013 by Supertuktuk

[chiang mai]

I couldn' t open Mee Tae Dai account as the local branch of bank of Ayudhya told me this account is just for Thai...so bulllshit... L&H Bank any good? This Bank have a similar account at 2,90 % and Fixed 12 months at 3,35 %

Might try a different branch of AyudhyaI have two MTD accounts with them & am not Thai :)On L&H bank I am sure they are fine but have never seen a similar to MTD type account.The one they have 2.8% is a stepper accountThey have a 2.9% 12 month lock too.Unless they have a non-fixed 2.9 that I have not seen?The nice thing about the MTD accounts have always been that they are not fixed time wisecan be used for Visa extensions & are not taxed like fixed accounts. Until you reach 20k baht in one yearof interest at which time you can just move it & not be taxed anyway

Bank of Ayudhya....no away , I tried different branch but they answer the same way " It'a just for Thai!" .. I do believe you have MTD account as here the rules are different, the Bank say a lot of bulllshit ... different province different rules... Time ago I tried to open a Bank account at Kasikorn , no way they sere asking for a work permit, I have many friends

As Mania suggests, there are many farangs on this thread who have that type of account so you just need to try another branch - if it helps you understand the situation better, I am one of the very few farangs here it seems who is unable to open a standard savings account at TMB in Chiang Mai, despite me having bank accounts with all the other banks and having lived here for 10 years, the manager of the downtown CM branch just refuses to admit that farangs can open accounts with them - similar stories have been reported countrywide by farangs on a rfat of banking related issues!!

[Supertuktuk]

Me too I couldn't open a bank account at TMB...even there they were asking for a work permit!!! Again different province different rules.....

[John 1]

I couldn' t open Mee Tae Dai account as the local branch of bank of Ayudhya told me this account is just for Thai...so bulllshit... L&H Bank any good? This Bank have a similar account at 2,90 % and Fixed 12 months at 3,35 %

Might try a different branch of AyudhyaI have two MTD accounts with them & am not Thai :)On L&H bank I am sure they are fine but have never seen a similar to MTD type account.The one they have 2.8% is a stepper accountThey have a 2.9% 12 month lock too.Unless they have a non-fixed 2.9 that I have not seen?The nice thing about the MTD accounts have always been that they are not fixed time wisecan be used for Visa extensions & are not taxed like fixed accounts. Until you reach 20k baht in one yearof interest at which time you can just move it & not be taxed anyway

Bank of Ayudhya....no away , I tried different branch but they answer the same way " It'a just for Thai!" .. I do believe you have MTD account as here the rules are different, the Bank say a lot of bulllshit ... different province different rules... Time ago I tried to open a Bank account at Kasikorn , no way they sere asking for a work permit, I have many friends

As Mania suggests, there are many farangs on this thread who have that type of account so you just need to try another branch - if it helps you understand the situation better, I am one of the very few farangs here it seems who is unable to open a standard savings account at TMB in Chiang Mai, despite me having bank accounts with all the other banks and having lived here for 10 years, the manager of the downtown CM branch just refuses to admit that farangs can open accounts with them - similar stories have been reported countrywide by farangs on a rfat of banking related issues!!

I think if you reaaly want to open an account with TMB and they do have some good point's. Send a e-mail to head office or call by pass local manager, most local manager get moved ever couple of years to stop fiddling the books. I have 3 account's with Tmb and all other banks. I've been with Scb for 20 years and the rules have changed more proof of residence and so forth Thailand is trying to get off the black list.. This is similar to Australia you need 100 point's to open an account this can include passport drivers licence and some other stuff.

[Phronesis]

I couldn' t open Mee Tae Dai account as the local branch of bank of Ayudhya told me this account is just for Thai...so bulllshit... L&H Bank any good? This Bank have a similar account at 2,90 % and Fixed 12 months at 3,35 %

I have a Mee Tae Dai account and I am on a student visa.

[isawasnake]

I couldn' t open Mee Tae Dai account as the local branch of bank of Ayudhya told me this account is just for Thai...so bulllshit... L&H Bank any good? This Bank have a similar account at 2,90 % and Fixed 12 months at 3,35 %

This is my old rule of Thailand coming into play again". Thais love to say "no" to foreigners more than anything else. It is their national pastime.

[meatboy]

I couldn' t open Mee Tae Dai account as the local branch of bank of Ayudhya told me this account is just for Thai...so bulllshit... L&H Bank any good? This Bank have a similar account at 2,90 % and Fixed 12 months at 3,35 %

i was refused at gsb.by the deputy man.wf.phoned head office reply no problem just go back and tell him you can open a fixed rate acc.the little pilock even sa-wat-dee me every time he see's me and i always smile[smirk]

[chiang mai]

I couldn' t open Mee Tae Dai account as the local branch of bank of Ayudhya told me this account is just for Thai...so bulllshit... L&H Bank any good? This Bank have a similar account at 2,90 % and Fixed 12 months at 3,35 %

i was refused at gsb.by the deputy man.wf.phoned head office reply no problem just go back and tell him you can open a fixed rate acc.the little pilock even sa-wat-dee me every time he see's me and i always smile[smirk]

Pilock, I'd like to see them translate that.

[cheeryble]

1. I have a Mee tai Dai account opened just a few months ago. (I would however never park more than necessary in such a low returning vehicle.....just happened to have a few baht)

2. I would check whether L and H bank is completely unlinked from the fortunes of L and H developments before touching them with a barge pole.

3. Surprised no-one has started a thread about alternates to Thai bank accounts, abroad possibly, which MAY have a bit more volatility and currency risk but are basically very sound investments and statistically averaging long term will give you a much higher return.

Edited April 23, 2013 by cheeryble

[Phronesis]

1. I have a Mee tai Dai account opened just a few months ago. (I would however never park more than necessary in such a low returning vehicle.....just happened to have a few baht) 2. I would check whether L and H bank is completely unlinked from the fortunes of L and H developments before touching them with a barge pole. 3. Surprised no-one has started a thread about alternates to Thai bank accounts, abroad possibly, which MAY have a bit more volatility and currency risk but are basically very sound investments and statistically averaging long term will give you a much higher return.

4. And they are?

[John 1]

1. I have a Mee tai Dai account opened just a few months ago. (I would however never park more than necessary in such a low returning vehicle.....just happened to have a few baht) 2. I would check whether L and H bank is completely unlinked from the fortunes of L and H developments before touching them with a barge pole. 3. Surprised no-one has started a thread about alternates to Thai bank accounts, abroad possibly, which MAY have a bit more volatility and currency risk but are basically very sound investments and statistically averaging long term will give you a much higher return.

I don't think we need to know this it's more whats available in Thai. We know whats on the web.

[mania]

I think the main reason this thread got started & pinned was not

looking for better investments abroad etc.

We have the financial forum for that.

This thread was specifically created for Thai Bank interest rates

Folks who live in Thailand full time need a Thai account if nothing else but

for their visa seasoned 400-800k THB

To that end we were always interested in local Thai Bank Rates

[Supertuktuk]

I couldn' t open Mee Tae Dai account as the local branch of bank of Ayudhya told me this account is just for Thai...

Finally I Made a complaint about this issue .....I just received this reply from Krungsri Bank of Ayudhya callcenter :

Dear Sir/Madam

The document require for account opening are

1. Work Permit or Business Visa or Retirement Visa

2. Thai residential documents i.e. household registration (Thai Tabian Baan)

3. Valid Passport

Would you please advise us the branch name that you ever contacted and they told you that Mee Tae Dai is applicable for only Thai Nationality. We will investigate back to those branches.

Best regards,

Krungsri Call Center 1572

Bank of Ayudhya PCL.,

That's it....

[mania]

Dear Sir/Madam

The document require for account opening are

1. Work Permit or Business Visa or Retirement Visa

2. Thai residential documents i.e. household registration (Thai Tabian Baan)

3. Valid Passport

As usual TIT

I have one of those three requirements ( Passport )

Yet I have two MTD accounts there

[chiang mai]

Dear Sir/Madam

The document require for account opening are

1. Work Permit or Business Visa or Retirement Visa

2. Thai residential documents i.e. household registration (Thai Tabian Baan)

3. Valid Passport

As usual TIT

I have one of those three requirements ( Passport )

Yet I have two MTD accounts there

Your passport contains your visa hence you have two of the three. Also, item number two on the list refers to proof of address which is now a firm requirement, it doesn't have to be in the form of a household registration though, a lease or similar will suffice.

[meatboy]

Dear Sir/Madam

The document require for account opening are

1. Work Permit or Business Visa or Retirement Visa

2. Thai residential documents i.e. household registration (Thai Tabian Baan)

3. Valid Passport

As usual TIT

I have one of those three requirements ( Passport )

Yet I have two MTD accounts there

1.as above or marriage visa.

2.letter of residency or in my case tax id.card.

3.as above.

[mania]

Dear Sir/Madam

The document require for account opening are

1. Work Permit or Business Visa or Retirement Visa

2. Thai residential documents i.e. household registration (Thai Tabian Baan)

3. Valid Passport

As usual TIT

I have one of those three requirements ( Passport )

Yet I have two MTD accounts there

Your passport contains your visa hence you have two of the three. Also, item number two on the list refers to proof of address which is now a firm requirement, it doesn't have to be in the form of a household registration though, a lease or similar will suffice.

Actually I opened my 1st MTD account when I did not have my visa extension yet

I came on a basic 3 month & later at the end of that applied for the based on marriage extension

I guess I was lucky but also we use to have a mortgage at that branch even though we still

lived in the US & knew the manager well.

When I opened the 2nd account I opened it at Airport Plaza instead of my usual branch & they did not

ask for anything at all.I had just popped in to ask a question about interest/taxes etc.

They told me yes I was about to pass the 20k interest so I should open another MTD & would I like to do so now

I did not even have my passport I guess because they saw my original MTD account & also my Thai drivers license has my PP# on it.

So that was sufficient? or TIT Each store/bank etc is more like a franchise with their general rules but still operate as they or their manager

allows.

Edited April 26, 2013 by mania

[Supertuktuk]

The latest from L&H Bank....here interest rate board and their leaflet....i couldn't ask more....my interpreter was not there

[cekipa]

Why is that as soon as your posts pop up down the left corner of my mobile touchscreen, I am trying to get rid of an annoying bug ?

Sent from my i-mobile IQ 1 using Thaivisa Connect Thailand mobile app

[yankee99]

kasikorn offers 3.2%not a step up. 14 months paid every 3 months

[Supertuktuk]

GHB Government Housing Bank offers 3,25% 12 months info http://www.ghbank.co.th/en/

[Billy The Kid]

TMB bank... Do condo owners eligible to open the account. ? Just wondering.

[chiang mai]

TMB bank... Do condo owners eligible to open the account. ? Just wondering.

Anyone can open an account with TMB (except me it seems), as long as you find the right branch and talk to the right person when they are in the right mood, basically you have to keep trying and asking which is something I can't be bothered to do.

[chiang mai]

I see this morning that Korea is the latest country to cut is bank rate, I reckon that Thailand will have no choice but do similar at some point in the not too distant future, probably worth folks locking in their deposits as best they can, I know I've got a bunch in 2.8% instant access that I need to tie down before 2.8% morphs into 2.4%!

[utalkin2me]

I see this morning that Korea is the latest country to cut is bank rate, I reckon that Thailand will have no choice but do similar at some point in the not too distant future, probably worth folks locking in their deposits as best they can, I know I've got a bunch in 2.8% instant access that I need to tie down before 2.8% morphs into 2.4%!

What is the 2.8 instant access?

[chiang mai]

I see this morning that Korea is the latest country to cut is bank rate, I reckon that Thailand will have no choice but do similar at some point in the not too distant future, probably worth folks locking in their deposits as best they can, I know I've got a bunch in 2.8% instant access that I need to tie down before 2.8% morphs into 2.4%!

What is the 2.8 instant access?

Bank of Ayhudaya (BAY)

[utalkin2me]

I see this morning that Korea is the latest country to cut is bank rate, I reckon that Thailand will have no choice but do similar at some point in the not too distant future, probably worth folks locking in their deposits as best they can, I know I've got a bunch in 2.8% instant access that I need to tie down before 2.8% morphs into 2.4%!

What is the 2.8 instant access?

Bank of Ayhudaya (BAY)

I love that account, I thought it was at 2.65 though. I hope you are right to be honest