Bank Savings Interest Rates

[CaptainPeacock]

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

Here you go:

http://www.bangkokbank.com/BANGKOKBANK/WEBSERVICES/RATES/Pages/DepositRates.aspx

[mania]

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

4 & 10 month rates

Edited February 18, 2014 by mania

[KittenKong]

BAY has 3.2% for 11 months.

"Finish already". May be back "next week or next month", maybe with a different rate.

TMB are still doing a 12-month TD with interest of 3% paid in advance.

[55Jay]

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

4 & 10 month rates

2014-02-17 09.30.15.jpg

The cardboard BKB guy hasn't aged a bit, although he's holding up lower numbers this year. Aging in reverse?

[Choonpon]

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

4 & 10 month rates

2014-02-17 09.30.15.jpg

The cardboard BKB guy hasn't aged a bit, although he's holding up lower numbers this year. Aging in reverse?

Photoshop;)

[KittenKong]

TMB are still doing a 12-month TD with interest of 3% paid in advance.

The cashier told me that having opened one of these one can add to it at any time and get the same rate, though it's not clear to me for how long one has to keep the new money tied up. Until the end of the initial 12-month period or does each subsequent deposit have its own duration of 12 months? Anyway, the facility may be of interest to some people especially if interest rates are on the way down.

[55Jay]

TMB are still doing a 12-month TD with interest of 3% paid in advance.

The cashier told me that having opened one of these one can add to it at any time and get the same rate, though it's not clear to me for how long one has to keep the new money tied up. Until the end of the initial 12-month period or does each subsequent deposit have its own duration of 12 months? Anyway, the facility may be of interest to some people especially if interest rates are on the way down.

My exp with Bangkok Banks was yes, additional deposits have their own maturity date.

I deposited 1 lump in a 10 month TD, then added another lump to it 2 weeks later, so now I have two separate maturity dates. At least that's what the girl told me.

[John 1]

TMB are still doing a 12-month TD with interest of 3% paid in advance.

The cashier told me that having opened one of these one can add to it at any time and get the same rate, though it's not clear to me for how long one has to keep the new money tied up. Until the end of the initial 12-month period or does each subsequent deposit have its own duration of 12 months? Anyway, the facility may be of interest to some people especially if interest rates are on the way down.

My exp with Bangkok Banks was yes, additional deposits have their own maturity date.

I deposited 1 lump in a 10 month TD, then added another lump to it 2 weeks later, so now I have two separate maturity dates. At least that's what the girl told me.

Correct.

[mania]

One thing about time locks is many times it is better to take the amount you want to lock & break it into 5 deposits.( or what ever )

I did one of a million baht deposited in 5 - 200k pieces. Never did need to remove it but did so just in case

That way should an emergency arise & you need some you need not break the whole thing.

Just take one of the pieces with no harm to the rest interest penalty wise.

Edited February 21, 2014 by mania

[cloghead]

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

Were the bank's staff dressed in black ?

[scooterboy]

One thing about time locks is many times it is better to take the amount you want to lock & break it into 5 deposits.( or what ever )

I did one of a million baht deposited in 5 - 200k pieces. Never did need to remove it but did so just in case

That way should an emergency arise & you need some you need not break the whole thing.

Just take one of the pieces with no harm to the rest interest penalty wise.

Thanks - good advice, indeed! I wasn't actually aware that you could do that with the same account on the same day.

Will certainly remember it, the next time I have a spare million or two.....

Cheers

[Pib]

TMB are still doing a 12-month TD with interest of 3% paid in advance.

The cashier told me that having opened one of these one can add to it at any time and get the same rate, though it's not clear to me for how long one has to keep the new money tied up. Until the end of the initial 12-month period or does each subsequent deposit have its own duration of 12 months? Anyway, the facility may be of interest to some people especially if interest rates are on the way down.

My exp with Bangkok Banks was yes, additional deposits have their own maturity date.

I deposited 1 lump in a 10 month TD, then added another lump to it 2 weeks later, so now I have two separate maturity dates. At least that's what the girl told me.

Correct.

For fixed deposits in general, correct as long as that particular promotion is still running. Once it closes, you can't add deposits to it and get that promotional rate...you might be able to add to it but you won't get the same interest rate if the promotion period has ended. Unless a promotion has a cut off date for additional deposits (not to be confused with maturity date) a person could theoretically walk into the bank the day before their account matures...say a 12 month fixed account they have paying 4% just for example, add a new deposit and get another 4% for 12 months...and then do that a year later...etc....etc...etc. But that's not the way it works. To get a certain interest rate the deposits have to occur before that promotional interest rate closes for additional deposits...you could probably still make additional deposits but if the 12 month rate has now dropped to say 2.5% you would only get that 2.5% for the additional deposit. How long a bank will leave the promotional period open for additional deposits at the promotional rate will vary...it may be a few weeks or a few months.

[mania]

Here is an interesting thought for US citizens looking to not have to Buy Obama Care

To not be forced to buy this you need to be a bon fide resident of another country (expat)

One determination is the physical test 330 days out of USA

The other is Bona Fide residence test

In this test it states

If you submitted a

statement of nonresidence to the

authorities of a foreign country in which

you earned income and the authorities

hold that you are not subject to their

income tax laws by reason of

nonresidency in the foreign country, you

are not considered a bona fide resident of

that country.

Catch 22?

Basically this is the same statement used to claim back taxes on fixed deposits at the end of the year isn't it?

I have not made the statement for 2013 as I used Ayudhya non fixed accounts for 2013 so had no tax to claim back.

But maybe something to watch when Obama Care becomes required if not already?

Edited February 26, 2014 by mania

[Pib]

Basically this is the same statement used to claim back taxes on fixed deposits at the end of the year isn't it?

I make no such statement when I apply for refund of my fixed account interest 15% tax withholding. The only statement I put on the tax refund form (a Kor 10 form) is I don't earn any other income in Thailand other than this Thai bank account interest income....done that for the last two years.

Unless you are saying that is some statement in Thai on the Thai tax form we sign? If so, can you provide a cut-and-paste from the form showing that statement.

[chiang mai]

UOB - Eleven months, 2.95%

Savings account, no tax deducted, 2.50%

[mania]

Basically this is the same statement used to claim back taxes on fixed deposits at the end of the year isn't it?

I make no such statement when I apply for refund of my fixed account interest 15% tax withholding. The only statement I put on the tax refund form (a Kor 10 form) is I don't earn any other income in Thailand other than this Thai bank account interest income....done that for the last two years.

Unless you are saying that is some statement in Thai on the Thai tax form we sign? If so, can you provide a cut-and-paste from the form showing that statement.

Pib I am not 100% sure it is just a thought that occurred to me while reading

the 2555 form from the IRS about qualifying as a true expat & exempt from

Obama Care

But my guess is the description fits the likely scenario which

frees us from paying any Thai income tax on the interest income.

Again I have not read the Thai part as I am not filing this year.

Those who are may want to double check & not disqualify themselves

on one end to save a little on the other.

Edited February 26, 2014 by mania

[seb2015]

Just to let everyone know that there is a Kasikorn Fixed Deposit Account at 3% and so depending on the lenght of the deposit.

No income tax withheld.

Promotion ends on Monday 10 (note that if you plan to open your account on that day, using a cashier cheque, you'd have to do that before 1pm on Monday).

http://www.kasikornasset.com/EN/BannerPromotion/Pages/KFI6M.aspx

http://www.kasikornasset.com/EN/BannerPromotion/Pages/fixedincome.aspx

Sent from my iPhone using Thaivisa Connect Thailand

[marino28]

UOB - Eleven months, 2.95%

Savings account, no tax deducted, 2.50%

Hello,

i am very interesting in the saving account of UOB but in the internet site i cannot find any saving account that pay 2,5%

http://www.uob.co.th/announcement/deposite-rates/2014/01Mar2014_en.pdf

[marino28]

sorry at the moment the best not fixed saving account is the maa tai dai from Krung thai, right?

Anybody know if is possibile to use that saving account to sucured a credit card?

[55Jay]

Would someone please clarify the Krungsi / BAY 20k interest policy for me.

I understand that as an account nears 20,000 baht in interest, you can open another account. Often the bank will contact you about it.

What happens if you don't? Thought I read somewhere recently that interest is not calculated and paid on a account that has topped over 20,000 in paid interest. Is that true?

Edit to add: I'm talking about the MTD savings acct/instant.

Edited March 10, 2014 by 55Jay

[mania]

Would someone please clarify the Krungsi / BAY 20k interest policy for me.

I understand that as an account nears 20,000 baht in interest, you can open another account. Often the bank will contact you about it.

What happens if you don't? Thought I read somewhere recently that interest is not calculated and paid on a account that has topped over 20,000 in paid interest. Is that true?

Edit to add: I'm talking about the MTD savings acct/instant.

Not sure I understand your wording but since I have 3 MTD accounts I will say....

The reason to open another is yes as it nears 20k interest earned in a 1 year period the bank will then be obliged by Thai

law to withhold tax once that 20k threshold is passed. Of course you could also let it go & later claim it back at end of year. Personally

I find it easier to open another account & transfer. Perhaps in teh future this will not be allowed but is for now.

I am not sure what you meant/read about interest not being paid when 20k interest exceeded but afaik it is still paid less taxes removed.

Same as fully fixed accounts

Edited March 10, 2014 by mania

[55Jay]

Would someone please clarify the Krungsi / BAY 20k interest policy for me.

I understand that as an account nears 20,000 baht in interest, you can open another account. Often the bank will contact you about it.

What happens if you don't? Thought I read somewhere recently that interest is not calculated and paid on a account that has topped over 20,000 in paid interest. Is that true?

Edit to add: I'm talking about the MTD savings acct/instant.

Not sure I understand your wording but since I have 3 MTD accounts I will say....

The reason to open another is yes as it nears 20k interest earned in a 1 year period the bank will then be obliged by Thai

law to withhold tax once that 20k threshold is passed. Of course you could also let it go & later claim it back at end of year. Personally

I find it easier to open another account & transfer. Perhaps in teh future this will not be allowed but is for now.

I am not sure what you meant/read about interest not being paid when 20k interest exceeded but afaik it is still paid less taxes removed.

Same as fully fixed accounts

Ok, thanks.

[CMMCB]

Just opened a fixed rate account with GSB (Omsin).

11 months, 3%pa, no tax.

Min deposit Bt.10,000, no max. Can add more after opening but must be at least Bt.1,000 each time. Promotion started on 5th March and should continue for at least a month, if I remember correctly.

[55Jay]

Just opened BAY MTD acct today. Now 2.35% as of yesterday.

Sent from my GT-I8150 using Thaivisa Connect Thailand mobile app

[mania]

Just opened BAY MTD acct today. Now 2.35% as of yesterday.

Sent from my GT-I8150 using Thaivisa Connect Thailand mobile app

Well it is getting down there now

Hmmm I may have to look for a few alternatives.

I will miss these accounts though as they are very easy to use

& lack taxation + allow 2 withdrawals a month free.

[mania]

Just opened a fixed rate account with GSB (Omsin).

11 months, 3%pa, no tax.

Min deposit Bt.10,000, no max. Can add more after opening but must be at least Bt.1,000 each time. Promotion started on 5th March and should continue for at least a month, if I remember correctly.

Thanks I just looked at this online ( only in Thai )

http://www.gsb.or.th/products/personal/deposits/special-101years.php

but it does agree with all you said

Enrollment is March 5th till April 5th

Also does say normal person no tax deducted only corporate/juristic persons taxed

hmmm may be a usable one then for me. Do you have their online banking? If so how is it?

Thanks for the heads up

Edited March 11, 2014 by mania

[CMMCB]

Sorry for delay in replying, mania. Not used their online banking - do thy even have it?

Just opened a fixed rate account with GSB (Omsin).

11 months, 3%pa, no tax.

Min deposit Bt.10,000, no max. Can add more after opening but must be at least Bt.1,000 each time. Promotion started on 5th March and should continue for at least a month, if I remember correctly.

Thanks I just looked at this online ( only in Thai )
http://www.gsb.or.th/products/personal/deposits/special-101years.php
but it does agree with all you said
Enrollment is March 5th till April 5th
Also does say normal person no tax deducted only corporate/juristic persons taxed

hmmm may be a usable one then for me. Do you have their online banking? If so how is it?

Thanks for the heads up

[mania]

Sorry for delay in replying, mania. Not used their online banking - do thy even have it?

No problem

Seems so CMMCB

http://www.gsb.or.th/products/personal/services/internet-banking-en.php

[chiang mai]

UOB - Eleven months, 2.95%

Savings account, no tax deducted, 2.50%

Hello,

i am very interesting in the saving account of UOB but in the internet site i cannot find any saving account that pay 2,5%

http://www.uob.co.th/announcement/deposite-rates/2014/01Mar2014_en.pdf

Sometimes you just need to go into a branch and ask them!

[meatboy]

UOB - Eleven months, 2.95%

Savings account, no tax deducted, 2.50%

Hello,

i am very interesting in the saving account of UOB but in the internet site i cannot find any saving account that pay 2,5%

http://www.uob.co.th/announcement/deposite-rates/2014/01Mar2014_en.pdf

Sometimes you just need to go into a branch and ask them!

I would go into land and house and see what they have to offer,when the wife opened a fixed acc.15months paying 3.5%tax is deductible which she gets back anyway,but this is what I liked the interest is paid monthly into a savings acc.paying 2% on balances up to 500,000bht and 2.7% over no tax deducted,as we keep our yrly exs.in current accs.instant axcess paying peanuts this suits us fine.