Bank Savings Interest Rates

[JoePai]

Opened one this morning in Jomtien.

Efficient and painless.

The cashier seemed concerned that I didn't have a work permit until she saw my retirement extension stamp, at which point she cheered up visibly. Somehow I don't think they will open accounts for anyone who doesn't have a long visa, though I may be wrong.

Bright yellow passbook to add to my collection.

Sorry to be a pain, but you have 3.2% on the "4-months Special Time Deposit Account" ?

[Darrel]

Sorry to be a pain, but you have 3.2% on the "4-months Special Time Deposit Account" ?

No, I opened the 2.9% instant access account. Sorry if I wasn't clear.

[flying]

Sorry to be a pain, but you have 3.2% on the "4-months Special Time Deposit Account" ?

No, I opened the 2.9% instant access account. Sorry if I wasn't clear.

Did the same today with the 2.9% painless ( am also on a non Imm visa )

[flying]

Aren't those 4 month rates for 2011 ??

Would have to double check but.....the pdf is the most recent from their site & dated June 1st 2012

From the pdf....

Bank of Ayudhya Public Company Limited

Re: Interest Rates for Deposit Accounts

Effective from 5 June 2012

Yes, the pdf is dated June 5, 2012 on the top-opening page. But scroll down to the 4 month specials "

4-months Special Time Deposit Account

Account opening from 2 Aug - 11 Aug 2011 (4 Months#3)" .....

It is the same with the 10 month rates.

You are correct & when I asked about it today the man said 5 months & you had to pay a fee? for 3.2 but I did not investigate further

because the simple 2.9% seems easy for now.

[Naam]

Did the same today with the 2.9% painless ( am also on a non Imm visa )

what does the fine print say? 2.9% valid till end of this month? extendable only for those of age 80 and above accompanied by biological mother and father?

[flying]

Did the same today with the 2.9% painless ( am also on a non Imm visa )

what does the fine print say? 2.9% valid till end of this month? extendable only for those of age 80 and above accompanied by biological mother and father?

Well as you probably know the fine print is definitely lacking on this deal

But that is ok as a temporary parking for expense funds here.

Due to the lack of restrictions on withdrawals ...one can keep an eye on the account as it has online access.

If they monkey about with the interest too much easy enough to again online transfer to one of the others.

Sure beats the 0.25% in the US

[Darrel]

what does the fine print say? 2.9% valid till end of this month?

It says nothing so it could last a week or a hundred years or anywhere in between.

As mentioned in a previous post, I expect them to decrease the rate at some point just as TMB have done.

[how241]

The 2.9% is a Good deal now. I opened one a few days ago at the Central Mall. It was quick and easy. Remember, you need to keep over 100K to earn the 2.9% or you only get 1%.

[flying]

Since this allows withdrawals I wonder if it could be used for Visa requirements?

[how241]

what does the fine print say? 2.9% valid till end of this month?

It says nothing so it could last a week or a hundred years or anywhere in between.

As mentioned in a previous post, I expect them to decrease the rate at some point just as TMB have done.

The staff told me they expect the rate to remain until next year. If general interest rates go up it will remain. If rates fall, it will fall too.

[how241]

Since this allows withdrawals I wonder if it could be used for Visa requirements?

For sure, there should be no problems using this acct. for the visa requirements.

[how241]

Did the same today with the 2.9% painless ( am also on a non Imm visa )

what does the fine print say? 2.9% valid till end of this month? extendable only for those of age 80 and above accompanied by biological mother and father?

Well as you probably know the fine print is definitely lacking on this deal

But that is ok as a temporary parking for expense funds here.

Due to the lack of restrictions on withdrawals ...one can keep an eye on the account as it has online access.

If they monkey about with the interest too much easy enough to again online transfer to one of the others.

Sure beats the 0.25% in the US

True, not a lot of fine print. The rates in the USA are a joke. 1% or less in most cases.

[12DrinkMore]

True, not a lot of fine print. The rates in the USA are a joke. 1% or less in most cases.

Don't worry, the Bernank has a lever for that.

It's the Financial Repression lever. And its a BIG lever.

Effective negative rates after inflation up your street right today, tomorrow and for the next decade.

[how241]

True, not a lot of fine print. The rates in the USA are a joke. 1% or less in most cases.

Don't worry, the Bernank has a lever for that.

It's the Financial Repression lever. And its a BIG lever.

Effective negative rates after inflation up your street right today, tomorrow and for the next decade.

Sad thought, but True.

[yoshiwara]

Did the same today with the 2.9% painless ( am also on a non Imm visa )

what does the fine print say? 2.9% valid till end of this month? extendable only for those of age 80 and above accompanied by biological mother and father?

Well as you probably know the fine print is definitely lacking on this deal

But that is ok as a temporary parking for expense funds here.

Due to the lack of restrictions on withdrawals ...one can keep an eye on the account as it has online access.

If they monkey about with the interest too much easy enough to again online transfer to one of the others.

Sure beats the 0.25% in the US

True, not a lot of fine print. The rates in the USA are a joke. 1% or less in most cases.

Then save in a currency with a higher interest rate.

[how241]

"Then save in a currency with a higher interest rate."

Yes, of course I do.

[yoshiwara]

"Then save in a currency with a higher interest rate."

Yes, of course I do.

...and that would be?

[how241]

"Then save in a currency with a higher interest rate."

Yes, of course I do.

...and that would be?

"BAY has an instant access account that pays 2.9% where the interest is calculated/accrued daily and posted to the account monthly, limit two withdrawls per month, looks like a hard to beat winner to me."

I agree that 2.9% Liquid Gov't protected account is a Winner.

[BeachBrian]

It's worth noting that Oanda currently pays 4.3% on USD/THB ($1 minimum trade size). Their THB interest rate is 4.8% less 0.5% to borrow USD. Higher rate than Thai banks with much less hassle/risk (Oanda is the largest retail forex broker in the world).

Edited June 12, 2012 by BeachBrian

[chiang mai]

Would it not be a good idea to have a pinned thread where folks can post bank interest rates/products as they find them, a thread without the debate of course, Mods?

[Naam]

It's worth noting that Oanda currently pays 4.3% on USD/THB ($1 minimum trade size). Their THB interest rate is 4.8% less 0.5% to borrow USD. Higher rate than Thai banks with much less hassle/risk (Oanda is the largest retail forex broker in the world).

Oanda rates are indeed competitive but when trading USDTHB the 4.3% plus can be "eaten up" in a relatively short time. i'm not sure whether Oanda accepts deposits only (without trades).

[BeachBrian]

Oanda rates are indeed competitive but when trading USDTHB the 4.3% plus can be "eaten up" in a relatively short time.

Eaten up how?

i'm not sure whether Oanda accepts deposits only (without trades).

They do, but only in 9 currencies. Unfortunately THB isn't one of them, so the only way to own THB is via trading USDTHB. If they supported THB deposits, then depositors would get the full 4.8% rate..

[yoshiwara]

Would it not be a good idea to have a pinned thread where folks can post bank interest rates/products as they find them, a thread without the debate of course, Mods?

I am not sure that is a good idea as an interest rate product carries an inherent element of risk which should draw critical comment to help investors make decisions.

[chiang mai]

Would it not be a good idea to have a pinned thread where folks can post bank interest rates/products as they find them, a thread without the debate of course, Mods?

I am not sure that is a good idea as an interest rate product carries an inherent element of risk which should draw critical comment to help investors make decisions.

They can make their own decisions and do their own risk assessments, after all, risk is different things to different people. I'm talking about making people aware of the products since there is no single source for such things.

[Naam]

Oanda rates are indeed competitive but when trading USDTHB the 4.3% plus can be "eaten up" in a relatively short time.

Eaten up how?

i'm not sure whether Oanda accepts deposits only (without trades).

They do, but only in 9 currencies. Unfortunately THB isn't one of them, so the only way to own THB is via trading USDTHB. If they supported THB deposits, then depositors would get the full 4.8% rate..

eaten up by the loss THB suffered vs USD from march till now going long THBUSD.

[Naam]

Would it not be a good idea to have a pinned thread where folks can post bank interest rates/products as they find them, a thread without the debate of course, Mods?

I am not sure that is a good idea as an interest rate product carries an inherent element of risk which should draw critical comment to help investors make decisions.

what investment does not carry an inherent element of risk?

[how241]

Would it not be a good idea to have a pinned thread where folks can post bank interest rates/products as they find them, a thread without the debate of course, Mods?

I am not sure that is a good idea as an interest rate product carries an inherent element of risk which should draw critical comment to help investors make decisions.

what investment does not carry an inherent element of risk?

Gov't. Insured bank accts. ?

[chiang mai]

Would it not be a good idea to have a pinned thread where folks can post bank interest rates/products as they find them, a thread without the debate of course, Mods?

I am not sure that is a good idea as an interest rate product carries an inherent element of risk which should draw critical comment to help investors make decisions.

what investment does not carry an inherent element of risk?

Gov't. Insured bank accts. ?

You've never heard of soveriegn debt then.

[TommoPhysicist]

what investment does not carry an inherent element of risk?

Buying a house in your TGFs name?

[how241]

what investment does not carry an inherent element of risk?

Buying a house in your TGFs name?

Good one. Made me smile.