Bank Savings Interest Rates

[chiang mai]

Tax refunds for savings accounts ? Has anyone a link to this please ? Thank you.

There is no tax refund for savings accounts, only for fixed term/fixed rate savings products. Go to the economic forum, there's bunch of discussions there, there's also a couple of them in this thread if you search back.

Here, try this one: http://www.thaivisa.com/forum/topic/610294-obtaining-refund-of-tax-withheld-on-thai-bank-fixed-savings-account/

Edited January 23, 2014 by chiang mai

[John 1]

The SCB near my house is offering 2.35 for 4 months.

Or 2.6 % for 10ml bt.

Edited January 23, 2014 by John 1

[longstebe]

CIMB, 24 months, 3.24%

Not bad at all. BKB were doing 15 months, 3.25% before crimbo. The best I could get was 10 months , 2.875%.

Sent from my GT-I9505 using Thaivisa Connect Thailand mobile app

[prepress]

land and houses bank as its called for me its like a building society has a fair deal on 3.5% fixed for 15months interest paid monthly,so yesterday when the wife told them she wouldn't be touching the interest till the end of term.as you need a separate acc.they told her to open a current acc.with 5,000bht and have the interest paid into it,as long as the balance doesn't go below 5k interest is paid at 2% as we normally have around 500,000bht in an account for living exs.the rate goes up to 2.70% this seems a fair deal getting interest on the interest.but hurry the 3.5%ends 31st.jan.

I visited LH Bank and CIMB to check out fixed deposit. Both gave me an info sheet in Thai language with the latest interest rates. I made some notes on it. They explained me some terms but in limited English. Some accounts are tax free?

Please, can someone with Thai knowledge have a look which Bank has the best offer. I want to save about 1 million for 6 month.

[mania]

The SCB near my house is offering 2.35 for 4 months.

Or 2.6 % for 10ml bt.

None should bother with those when Ayudhya give 2.5% paid monthly on anything over 100k & no time locks at all

[up-country_sinclair]

^ Good point.

[chiang mai]

The SCB near my house is offering 2.35 for 4 months.

Or 2.6 % for 10ml bt.

None should bother with those when Ayudhya give 2.5% paid monthly on anything over 100k & no time locks at all

You'll forgive me but that's super bad advice! That rate of 2.5% wont last long when the base rate gets lowered by a quarter point next time around, espeically since the central bank rate is currently 2.25%, figure that in three months time the BAY rate will be less than 2%, that's why fixed rate/term accounts win.

Edited January 24, 2014 by chiang mai

[isawasnake]

^I think he was just saying if they do lower it, which they have been, he could just then pull it out. I don't think it is a foregone conclusion that it will go below 2% though. It may very well however. I took all my money out of there when the set hit 1220, put some in that day at 1224 and then the rest at 1250ish. "Well see" as they say.

[chiang mai]

^I think he was just saying if they do lower it, which they have been, he could just then pull it out. I don't think it is a foregone conclusion that it will go below 2% though. It may very well however. I took all my money out of there when the set hit 1220, put some in that day at 1224 and then the rest at 1250ish. "Well see" as they say.

If the bank rate does fall because BOT wants to stimulate the economy, savings rates will fall and fixed rates will fall also, the option to enrol in higher rate fixed rate products will evaporate, the account offerings are relative to each other.

[mania]

The SCB near my house is offering 2.35 for 4 months.

Or 2.6 % for 10ml bt.

None should bother with those when Ayudhya give 2.5% paid monthly on anything over 100k & no time locks at all

You'll forgive me but that's super bad advice! That rate of 2.5% wont last long when the base rate gets lowered by a quarter point next time around, espeically since the central bank rate is currently 2.25%, figure that in three months time the BAY rate will be less than 2%, that's why fixed rate/term accounts win.

During a time of transition which is basically what we are now seeing here in Thailand

just as we did back in the US in 2007-2008 there is no point in fighting over peanuts

I will not lock anything down to fight over 2.25-2.5% etc. Anymore than I did when rates fell below 4%

back in the US

There comes a time when other things become better vehicles & we may be once again approaching that type of time.

Of course it could always go either way & we will see. But at this point I am not locking things down for 2.4- 2.6% & calling that a win

Edited January 27, 2014 by mania

[chiang mai]

Or 2.6 % for 10ml bt.

None should bother with those when Ayudhya give 2.5% paid monthly on anything over 100k & no time locks at all

You'll forgive me but that's super bad advice! That rate of 2.5% wont last long when the base rate gets lowered by a quarter point next time around, espeically since the central bank rate is currently 2.25%, figure that in three months time the BAY rate will be less than 2%, that's why fixed rate/term accounts win.

During a time of transition which is basically what we are now seeing here in Thailand

just as we did back in the US in 2007-2008 there is no point in fighting over peanuts

I will not lock anything down to fight over 2.25-2.5% etc. Anymore than I did when rates fell below 4%

back in the US

There comes a time when other things become better vehicles & we may be once again approaching that type of time.

Of course it could always go either way & we will see. But at this point I am not locking things down for 2.4- 2.6% & calling that a win

Fair comment but a couple of points:

I agree that to lock down for 18 months at 2.5% doesn't make a lot of sense but it might make sense to do so at 3.5% for say eight months (CIMB). In that respect there is a sliding scale and everyone will have a different cut off point.

Secondly, those other instruments are only valid if people know what they are and how to access them and if people have the appetite for risk, many do not.

[trajan]

LH BANK is currently 3.5% for 15 months... (but will change Jan 31st)

any idea if trends indicate rates will rise or fall at end of this month?

[chiang mai]

LH BANK is currently 3.5% for 15 months... (but will change Jan 31st)

any idea if trends indicate rates will rise or fall at end of this month?

It's not about trends, it's about the central bank rate and the state of the economy. My guess is that there could well be a further cut at some point but banks are paying over the odds and need deposits so expect TD rates to remain higher than the central bank rate..

Edited January 28, 2014 by chiang mai

[trajan]

many thanks...I will wait until mid Feb..Im consolidating a number of fixed deposits into 1 then...just wanna streamline....(but not at a huge drop in rate)

[meatboy]

LH BANK is currently 3.5% for 15 months... (but will change Jan 31st)

any idea if trends indicate rates will rise or fall at end of this month?

withdrawn on the 19th jan. its now 3.20% unless they have pulled that, I took this on the 21st.also checked with head office

[trajan]

LH BANK is currently 3.5% for 15 months... (but will change Jan 31st)

any idea if trends indicate rates will rise or fall at end of this month?

withdrawn on the 19th jan. its now 3.20% unless they have pulled that, I took this on the 21st.also checked with head office

interesting, LH Bank head office (Q House Lumpini) told me its good until Jan 31st.....(and that there will be another promotion, but rate not yet known)

[meatboy]

LH BANK is currently 3.5% for 15 months... (but will change Jan 31st)

any idea if trends indicate rates will rise or fall at end of this month?

withdrawn on the 19th jan. its now 3.20% unless they have pulled that, I took this on the 21st.also checked with head office

interesting, LH Bank head office (Q House Lumpini) told me its good until Jan 31st.....(and that there will be another promotion, but rate not yet known)

when did they tell you this? because fri.17th jan the wife put her lump sum in 3.5% x 15months and nothing was said when she told them my husband will be in on tues.21st.then it was dropped to 3.20%x15months.

[55Jay]

LH BANK is currently 3.5% for 15 months... (but will change Jan 31st)

any idea if trends indicate rates will rise or fall at end of this month?

withdrawn on the 19th jan. its now 3.20% unless they have pulled that, I took this on the 21st.also checked with head office

interesting, LH Bank head office (Q House Lumpini) told me its good until Jan 31st.....(and that there will be another promotion, but rate not yet known)

when did they tell you this? because fri.17th jan the wife put her lump sum in 3.5% x 15months and nothing was said when she told them my husband will be in on tues.21st.then it was dropped to 3.20%x15months.

Did your Mrs' fixed acct at 3.5 also get reduced to 3.2, or just new accounts opened after the change?

[meatboy]

55jay she was lucky she fixed at 3.50% on the fri.then the bank[lh] published their results for 2013 they only made a profit of 31%

so the greedy twits cut 0.3% off their fixed acc.

[ricky1954]

Anyone know what the 'surplus savings' rate is at Tanachart? They do not give it on the website and the one bank I went into had not even heard of the account, yet the details are on the site in Thai and English.

[55Jay]

55jay she was lucky she fixed at 3.50% on the fri.then the bank[lh] published their results for 2013 they only made a profit of 31%

so the greedy twits cut 0.3% off their fixed acc.

Thanks, wasn't sure if they reserve the right to change a fixed rate after the fact here.

My lump in BKK bank comes due in March and I'm still leaning towards BAY's MTD acct or similar instant access with monthly interest.

[meatboy]

55jay she was lucky she fixed at 3.50% on the fri.then the bank[lh] published their results for 2013 they only made a profit of 31%

so the greedy twits cut 0.3% off their fixed acc.

Thanks, wasn't sure if they reserve the right to change a fixed rate after the fact here.

My lump in BKK bank comes due in March and I'm still leaning towards BAY's MTD acct or similar instant access with monthly interest.

the wife is in the mall every week so she will check out whats on offer,as she has one fixed at scb.maturing in march, I will then post em on here.

[55Jay]

55jay she was lucky she fixed at 3.50% on the fri.then the bank[lh] published their results for 2013 they only made a profit of 31%

so the greedy twits cut 0.3% off their fixed acc.

Thanks, wasn't sure if they reserve the right to change a fixed rate after the fact here.

My lump in BKK bank comes due in March and I'm still leaning towards BAY's MTD acct or similar instant access with monthly interest.

the wife is in the mall every week so she will check out whats on offer,as she has one fixed at scb.maturing in march, I will then post em on here.

Roger, thanks. We live about 30 kliks from town, so I monitor this thread to see what's up. Appreciate the info. Cheers, J.

[scooterboy]

Only a heads up (maybe)......

GSB have a promo, now extended until the end of February 2014 - a 5 month fixed account, 2.60% (NO tax payable) and interest paid monthly.

Might be of interest for some......

This promo is NO LONGER advertised on their website, but is only available in their banks. I put a blob of money in yesterday and asked why the promo wasn't any longer on their website. Likewise, I asked why their website interest rates weren't the same as in their banks - got surprised looks from the manager, but no comment......They obviously don't look at their own website info.....

Cheers

[jbaldwin]

KTB has

5 months - 2.8%

14 month - 3.0%

60 month - 4.0%

[meatboy]

KTB has

5 months - 2.8%

14 month - 3.0%

60 month - 4.0%

what we know about the 4% acc.its very complicated and not available to farangs.this is what the wife was told although we did not check with head office.

[Jack Mountain]

BAY has 3.2% for 11 months.

[belg]

Kiatnakin Bank offer 3.45% for 18 months (10 million+ needed)

or 3.15% for 11 months

[Choonpon]

Anyone knows the latest Bangkok bank FD rates? Thank you.

[John 1]

Anyone knows the latest Bangkok bank FD rates? Thank you.

Should be on there web site.