how241 Posted June 14, 2012 Share Posted June 14, 2012 UOB Thailand is offering 4.0% per annum for a 15 month fixed deposit opened between June 27th and Aug 15th (interest payable monthly to a linked UOB Platinum savings account) for deposits of Baht3 mil and above.... (3.85% per annum for fixed deposits less than Baht 3 mil) this seems to be the best gross interest rate for fixed deposit on the market. are there any better ones? That's about the highest rate around but I would not want to lock in for so long. I think rates will be rising soon and 15 months is a long time. Of course, what do I know about rates rising ?? Only my best guess. Either way, you should do well with that one. What about the 1 million LIMIT if you want you acc't. to be gov't. insured ??? thanks...15 months is the longest I will lock in...others will be shorter on a stepped (ladder) basis....[1 mil Baht per bank is just too low to be feasible]. Your right about that. The insurance should be at least 5 million. Link to comment Share on other sites More sharing options...
hyperdimension Posted June 14, 2012 Share Posted June 14, 2012 Has anyone managed to open a "ME by TMB" internet savings account, which offers 3% per year interest? Is there a English link ? I didn't see one. I don't think there is. You can either use Google Translate or view the web site together with a Thai friend who can translate for you. I've seen big street advertisements for this "ME by TMB" account around the city, e.g. Petchaburi Road. Link to comment Share on other sites More sharing options...
Darrel Posted June 14, 2012 Share Posted June 14, 2012 Has anyone managed to open a "ME by TMB" internet savings account, which offers 3% per year interest? Is there a English link ? I didn't see one. No, there isn't. I reported this account here a few weeks ago and I commented at the time that I thought it would be almost impossible to open one without a lot of help from a Thai speaker and without being able/willing to visit the very few branches that offer it. Link to comment Share on other sites More sharing options...
12DrinkMore Posted June 14, 2012 Share Posted June 14, 2012 Has anyone managed to open a "ME by TMB" internet savings account, which offers 3% per year interest? Is there a English link ? I didn't see one. No, there isn't. I reported this account here a few weeks ago and I commented at the time that I thought it would be almost impossible to open one without a lot of help from a Thai speaker and without being able/willing to visit the very few branches that offer it. The "No fixed" account at TMB is back up at 3%, however no ATM card, only passbook operation. Link to comment Share on other sites More sharing options...
Darrel Posted June 14, 2012 Share Posted June 14, 2012 The "No fixed" account at TMB is back up at 3%, however no ATM card, only passbook operation. This is a limited offer that only applies for deposits made before the end of next month, at which time the rate will go back down. When I opened my no fixed account I was offered an ATM card which I refused. Link to comment Share on other sites More sharing options...
hyperdimension Posted June 15, 2012 Share Posted June 15, 2012 Has anyone managed to open a "ME by TMB" internet savings account, which offers 3% per year interest? Is there a English link ? I didn't see one. No, there isn't. I reported this account here a few weeks ago and I commented at the time that I thought it would be almost impossible to open one without a lot of help from a Thai speaker and without being able/willing to visit the very few branches that offer it. The 3 branches are actually quite conveniently located for those who live in Bangkok, especially the Central World and Silom branches. I think it's definitely worth a try for those who are in Bangkok, as it looks better than their "No Fixed" account whose rate is fickle. It might help to bring a lot of supporting documents and a Thai spouse or friend. Link to comment Share on other sites More sharing options...
Darrel Posted June 15, 2012 Share Posted June 15, 2012 I would have thought that those in Bangkok would probably just go to Standard Chartered who offer an account with similar terms, in English. I would use them if I could open an account without leaving Pattaya. Link to comment Share on other sites More sharing options...
how241 Posted June 15, 2012 Share Posted June 15, 2012 Has anyone managed to open a "ME by TMB" internet savings account, which offers 3% per year interest? Is there a English link ? I didn't see one. No, there isn't. I reported this account here a few weeks ago and I commented at the time that I thought it would be almost impossible to open one without a lot of help from a Thai speaker and without being able/willing to visit the very few branches that offer it. I would be interested in this account but would Have to be able to read the fine print in English. Google sometimes doesn't do such a good job of translating. Link to comment Share on other sites More sharing options...
how241 Posted June 15, 2012 Share Posted June 15, 2012 Has anyone managed to open a "ME by TMB" internet savings account, which offers 3% per year interest? Is there a English link ? I didn't see one. No, there isn't. I reported this account here a few weeks ago and I commented at the time that I thought it would be almost impossible to open one without a lot of help from a Thai speaker and without being able/willing to visit the very few branches that offer it. The "No fixed" account at TMB is back up at 3%, however no ATM card, only passbook operation. The 3% is ONLY until the end of next month. Then 2%. Link to comment Share on other sites More sharing options...
Darrel Posted June 16, 2012 Share Posted June 16, 2012 Deposit protection will no longer be reduced to 1MB in August, according to the Ministry of Finance. Source: Front page Bangkok Post June 16 2012 Link to comment Share on other sites More sharing options...
how241 Posted June 16, 2012 Share Posted June 16, 2012 Deposit protection will no longer be reduced to 1MB in August, according to the Ministry of Finance. Source: Front page Bangkok Post June 16 2012 Is there a link to that story ? Can anyone confirm this ? Link to comment Share on other sites More sharing options...
how241 Posted June 16, 2012 Share Posted June 16, 2012 Deposit protection will no longer be reduced to 1MB in August, according to the Ministry of Finance. Source: Front page Bangkok Post June 16 2012 Good post. Thanks for that info. Link to comment Share on other sites More sharing options...
Tywais Posted June 16, 2012 Share Posted June 16, 2012 Post removed due to the following forum rule. 31) Bangkok Post do not allow quotes from their news articles or other material to appear on Thaivisa.com. Neither do they allow links to their publications. Posts from members containing quotes from or links to Bangkok Post publications will be deleted from the forum. Please note that this is a decision by the Bangkok Post, not by Thaivisa.com and any complaints or other issues concerning this rule should be directed to them. Quotes from and links to Phuketwan are also not allowed and will also be removed. In special cases forum Administrators or the news team may use these sources. Link to comment Share on other sites More sharing options...
how241 Posted June 16, 2012 Share Posted June 16, 2012 Post removed due to the following forum rule. 31) Bangkok Post do not allow quotes from their news articles or other material to appear on Thaivisa.com. Neither do they allow links to their publications. Posts from members containing quotes from or links to Bangkok Post publications will be deleted from the forum. Please note that this is a decision by the Bangkok Post, not by Thaivisa.com and any complaints or other issues concerning this rule should be directed to them. Quotes from and links to Phuketwan are also not allowed and will also be removed. In special cases forum Administrators or the news team may use these sources. OK....Sorry about that. I was Not aware of that rule and it was Not my intentions to violate any rules. Link to comment Share on other sites More sharing options...
Rimmer Posted July 2, 2012 Share Posted July 2, 2012 I just took some ex UK (zero interest funds) and put them on K Bank at 3.25% for 6 months. Forget when the expiry date of this offer is but they have new products coming out all the time. Link to comment Share on other sites More sharing options...
flying Posted July 2, 2012 Share Posted July 2, 2012 I just took some ex UK (zero interest funds) and put them on K Bank at 3.25% for 6 months. Forget when the expiry date of this offer is but they have new products coming out all the time. Was that a stepped account Rimmner? Or flat 3.25% pa ? Also folks have been mentioning it would be nice to have a pinned topic here that covers current "Best Savings Interest Rates" This thread would probably do fine? Any chance of pinning? Thanks Link to comment Share on other sites More sharing options...
Darrel Posted July 2, 2012 Share Posted July 2, 2012 CIMB 5-month 3.3% Link to comment Share on other sites More sharing options...
Rimmer Posted July 2, 2012 Share Posted July 2, 2012 I just took some ex UK (zero interest funds) and put them on K Bank at 3.25% for 6 months. Forget when the expiry date of this offer is but they have new products coming out all the time. Was that a stepped account Rimmner? Or flat 3.25% pa ? Also folks have been mentioning it would be nice to have a pinned topic here that covers current "Best Savings Interest Rates" This thread would probably do fine? Any chance of pinning? Thanks No its just a straight deposit. I agree this is a most useful topic I will pin it, If one of the banking mods has it already up there somewhere please feel free to unpin. . Link to comment Share on other sites More sharing options...
chiang mai Posted July 2, 2012 Author Share Posted July 2, 2012 I just took some ex UK (zero interest funds) and put them on K Bank at 3.25% for 6 months. Forget when the expiry date of this offer is but they have new products coming out all the time. Was that a stepped account Rimmner? Or flat 3.25% pa ? Also folks have been mentioning it would be nice to have a pinned topic here that covers current "Best Savings Interest Rates" This thread would probably do fine? Any chance of pinning? Thanks No its just a straight deposit. I agree this is a most useful topic I will pin it, If one of the banking mods has it already up there somewhere please feel free to unpin. . Thanks Rimmer Link to comment Share on other sites More sharing options...
chiang mai Posted July 2, 2012 Author Share Posted July 2, 2012 Perhaps we can establish a baseline of what we know, in summary, here's the products I know about: TMB instant access 3% (expires in two months) BAY instant access 2.9% (interest paid monthly, compounded daily) CIMB instant access 2.75% (speed savings, means you have to spend 10k and buy a linked product) CIMB fixed 3.3% (for five months) Kasikorn fixed 3.25% (for six months) Thanachart instant access 3% (minimum of 1 mill THB) Feel free to add to the above. Link to comment Share on other sites More sharing options...
flying Posted July 2, 2012 Share Posted July 2, 2012 Perhaps we can establish a baseline of what we know, in summary, here's the products I know about: TMB instant access 3% (expires in two months) BAY instant access 2.9% (interest paid monthly, compounded daily) CIMB instant access 2.75% (speed savings, means you have to spend 10k and buy a linked product) CIMB fixed 3.3% (for five months) Kasikorn fixed 3.25% (for six months) Thanachart instant access 3% (minimum of 1 mill THB) Feel free to add to the above. Bangkok Bank 3.25% fixed for 5 month minimum Deposit 200k Open till July 25th http://www.bangkokba...monthfixed.aspx Link to comment Share on other sites More sharing options...
GreenSnapper Posted July 2, 2012 Share Posted July 2, 2012 KBank website says 3.1% for 7 months. Where is your infromation from? Link to comment Share on other sites More sharing options...
chiang mai Posted July 2, 2012 Author Share Posted July 2, 2012 KBank website says 3.1% for 7 months. Where is your infromation from? From Post number 135 above as of mid day, but the situation can change quickly and it does change very often and without warning, that's why I think a thread like this one is very important. BTW, from a consumers investment standpoint, there's no real difference between the two rates/terms mentioned, it just means that the bank gets to keep your money for longer but you'll get the same return, all in all it's a bit of a marketing trick. Link to comment Share on other sites More sharing options...
thaiman Posted July 5, 2012 Share Posted July 5, 2012 Perhaps we can establish a baseline of what we know, in summary, here's the products I know about: TMB instant access 3% (expires in two months) BAY instant access 2.9% (interest paid monthly, compounded daily) CIMB instant access 2.75% (speed savings, means you have to spend 10k and buy a linked product) CIMB fixed 3.3% (for five months) Kasikorn fixed 3.25% (for six months) Thanachart instant access 3% (minimum of 1 mill THB) Feel free to add to the above. Bangkok Bank 3.25% fixed for 5 month minimum Deposit 200k Open till July 25th http://www.bangkokba...monthfixed.aspx So for the above I'd have to keep the funds in the bank for a minimum of 5 months? Lets say I put $10,000 in and pulled it out after 5 months. How much would I have made? Do I have to pay tax? Link to comment Share on other sites More sharing options...
flying Posted July 5, 2012 Share Posted July 5, 2012 Perhaps we can establish a baseline of what we know, in summary, here's the products I know about: TMB instant access 3% (expires in two months) BAY instant access 2.9% (interest paid monthly, compounded daily) CIMB instant access 2.75% (speed savings, means you have to spend 10k and buy a linked product) CIMB fixed 3.3% (for five months) Kasikorn fixed 3.25% (for six months) Thanachart instant access 3% (minimum of 1 mill THB) Feel free to add to the above. Bangkok Bank 3.25% fixed for 5 month minimum Deposit 200k Open till July 25th http://www.bangkokba...monthfixed.aspx So for the above I'd have to keep the funds in the bank for a minimum of 5 months? Lets say I put $10,000 in and pulled it out after 5 months. How much would I have made? Do I have to pay tax? Yes 5 months & if you pull out early there are penalties ranging from no interest to very low savings rate. Look here.... http://www.bangkokba...es/default.aspx I do believe all rates are usually PA (per annum ) But you do need to watch for so called step accounts which build to the advertised rate of interest As to your *what if* You can google a interest calculator to get exact http://ncalculators.com/interest/monthly-interest-calculator.htm Not sure if your asking dollars or baht? Taxes afaik are paid on interest amounts over 20k baht I believe the tax rate is 15% but you should double check that Link to comment Share on other sites More sharing options...
chiang mai Posted July 5, 2012 Author Share Posted July 5, 2012 Perhaps we can establish a baseline of what we know, in summary, here's the products I know about: TMB instant access 3% (expires in two months) BAY instant access 2.9% (interest paid monthly, compounded daily) CIMB instant access 2.75% (speed savings, means you have to spend 10k and buy a linked product) CIMB fixed 3.3% (for five months) Kasikorn fixed 3.25% (for six months) Thanachart instant access 3% (minimum of 1 mill THB) Feel free to add to the above. Bangkok Bank 3.25% fixed for 5 month minimum Deposit 200k Open till July 25th http://www.bangkokba...monthfixed.aspx So for the above I'd have to keep the funds in the bank for a minimum of 5 months? Lets say I put $10,000 in and pulled it out after 5 months. How much would I have made? Do I have to pay tax? Yes you will be charged 15% tax at source but this can be reclaimed from the tax office at the end of the tax year. Your interest earned would be the principle ammount, multiplied by the interest rate %, divided by 12 months and multiplied by the five months your funds are invested. Link to comment Share on other sites More sharing options...
GreenSnapper Posted July 5, 2012 Share Posted July 5, 2012 You always pay 15% tax on interest. As CM said, you can reclaim it, but the hassle is probably only worth for some sizable amount. Link to comment Share on other sites More sharing options...
chiang mai Posted July 5, 2012 Author Share Posted July 5, 2012 You always pay 15% tax on interest. As CM said, you can reclaim it, but the hassle is probably only worth for some sizable amount. There's no hassle involved at the CM tax office, it's all very civilised, once you've got your tax ID you can do future refunds online and, they even serve you with tea and coffe whilst you're filling out the forms (in a generally empty office), nothing could be more slick. Also, you don't "always" pay tax, only paid on fixed term depsoits - is also paid on instant access accounts if interest is over 20K. Link to comment Share on other sites More sharing options...
John 1 Posted July 6, 2012 Share Posted July 6, 2012 You always pay 15% tax on interest. As CM said, you can reclaim it, but the hassle is probably only worth for some sizable amount. There's no hassle involved at the CM tax office, it's all very civilised, once you've got your tax ID you can do future refunds online and, they even serve you with tea and coffe whilst you're filling out the forms (in a generally empty office), nothing could be more slick. Also, you don't "always" pay tax, only paid on fixed term depsoits - is also paid on instant access accounts if interest is over 20K. Tax is paid on all accounts saving or fixed Link to comment Share on other sites More sharing options...
chiang mai Posted July 6, 2012 Author Share Posted July 6, 2012 You always pay 15% tax on interest. As CM said, you can reclaim it, but the hassle is probably only worth for some sizable amount. There's no hassle involved at the CM tax office, it's all very civilised, once you've got your tax ID you can do future refunds online and, they even serve you with tea and coffe whilst you're filling out the forms (in a generally empty office), nothing could be more slick. Also, you don't "always" pay tax, only paid on fixed term depsoits - is also paid on instant access accounts if interest is over 20K. Tax is paid on all accounts saving or fixed Tax is not paid on farang savings acounts where the interest is under THB 20k per year! Link to comment Share on other sites More sharing options...
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