Bank Savings Interest Rates

[AyG]

Bangkok Bank sells Savings Bond, retail bond issued or guaranteed by Thai gov't. Coupon 3.8% p.a. for 5 yrs, for instance.

http://www.bangkokbank.com/BangkokBank/PERSONALBANKING/BUILDYOURWEALTH/INVESTMENTSANDDEPOSITS/BONDS/Pages/SB2558.aspx

Suppose a few more banks also sell.

Not quite. The 3.8%/5 year bond is issued by the Bank for Agriculture and Agricultural Cooperatives and doesn't appear to be guaranteed by the Thai government.

These bonds are only available to people with Thai national ID cards.

[CMMCB]

Hmm, interesting. After reading the recent above discussions, went into CIMB (in Chiangmai) this morning and was told...

1. The 3% seniors account (55y+) is only available to Thais (or at least Thai ID-holders).

2. No mention of WPs, tabian ban or UK details, but I'd need a Thai to "guarantee" me before I could open any kind of account.

3. After hearing my wife is an Ajarn, they said just to bring in a signed photocopy of her ID card. No guarantee forms for her to sign.

Always something different, eh? Ingenious really.

[KittenKong]

Hmm, interesting. After reading the recent above discussions, went into CIMB (in Chiangmai) this morning and was told...

1. The 3% seniors account (55y+) is only available to Thais (or at least Thai ID-holders).

2. No mention of WPs, tabian ban or UK details, but I'd need a Thai to "guarantee" me before I could open any kind of account.

1) their website puts it a slightly different way, though in fact their other TD account pays better interest anyway (at the moment) so why not take that?

2) is odd. No one has ever guaranteed me. I wonder what that involves?

[TallGuyJohninBKK]

3 posts... 3 different versions from different CIMB branches of whether or not they'd open an account for a farang, and what would be required.

You gotta love Thai banking...

[Pib]

3 posts... 3 different versions from different CIMB branches of whether or not they'd open an account for a farang, and what would be required.

You gotta love Thai banking...

When banking personnel are in doubt of the correct answer, they spin below wheel. Don't expect to see a physical wheel as the bank has an App they run on their computer system which gives a video version of the wheel. That's really what the bank customer service rep is doing on their keyboard when you ask the question; they were not looking up the correct answer but pressing the App's spin icon to spin the wheel to get an answer.

[CMMCB]

Hmm, interesting. After reading the recent above discussions, went into CIMB (in Chiangmai) this morning and was told...

1. The 3% seniors account (55y+) is only available to Thais (or at least Thai ID-holders).

2. No mention of WPs, tabian ban or UK details, but I'd need a Thai to "guarantee" me before I could open any kind of account.

1) their website puts it a slightly different way, though in fact their other TD account pays better interest anyway (at the moment) so why not take that?

2) is odd. No one has ever guaranteed me. I wonder what that involves?

Hi KK,

1) think the other account you mention is minus tax @15%, whereas the seniors account pays no tax;

2) agreed - never been asked for that before either. didn't ask the details as will put the money elsewhere.

[KittenKong]

1) think the other account you mention is minus tax @15%, whereas the seniors account pays no tax;

I think that's right.

But you can claim the tax back quite easily, which is what I do.

[smedly]

so is there a tax office in pattaya and if so maybe someone could explain where

[chiang mai]

It would be really helpful if we can get this topic back on track, the reporting of interest rate products at different banks in Thailand. Historically people have complained when the discussions veer towards tax and different branches attitudes towards foreigners opening accounts so I'm just trying to head off those complaints, please.

[scooterboy]

Totally agree. Tax and branch problems and other irrelevant (for this thread) stuff, in other threads, PLEASE!

T H A N K S !!!!

[Oorinara]

LH Bank offering 3% p.a. for 15 months fixed deposit.

http://www.lhbank.co.th/promotion/description/1495

[up-country_sinclair]

I just looked at Bangkok Bank's website and the best deal they have on offer is 7 months at 2.5%. Unless you're depositing more than 100 Million and then you'll get 2.75% for 3 months.

[Isan Farang]

I just looked at Bangkok Bank's website and the best deal they have on offer is 7 months at 2.5%. Unless you're depositing more than 100 Million and then you'll get 2.75% for 3 months.

They must have just changed the package I went to BB today and received 2.8% for 11 months. The deal for 100m and above was 3%

[up-country_sinclair]

I just looked at Bangkok Bank's website and the best deal they have on offer is 7 months at 2.5%. Unless you're depositing more than 100 Million and then you'll get 2.75% for 3 months.

They must have just changed the package I went to BB today and received 2.8% for 11 months. The deal for 100m and above was 3%

Thanks. Did you happen to see when the promotion expired?

[Choonpon]

Bangkok bank, Kad Suan Kaew CM

[ChrisB87]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

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?

2nd that!

[EmptyHead]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

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?

2nd that!

Here here! That be a good idea chiang mai!

3rd that!

[Water Buffalo]

I notice this one already is pinned.

[Isan Farang]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

I just looked at Bangkok Bank's website and the best deal they have on offer is 7 months at 2.5%. Unless you're depositing more than 100 Million and then you'll get 2.75% for 3 months.

They must have just changed the package I went to BB today and received 2.8% for 11 months. The deal for 100m and above was 3%

Thanks. Did you happen to see when the promotion expired?

They have removed the previous rates they showed on the main page of the website.

If its now 2.5% then it must have changed as of yesterday. Perhaps they had a cut off point but no one mentioned nothing to me at the bank.

[Water Buffalo]

Anyone got any info on Bangkok Bank?

Edited January 17, 2015 by Water Buffalo

[meatboy]

LH Bank offering 3% p.a. for 15 months fixed deposit.

http://www.lhbank.co.th/promotion/description/1495

withdrawn 10days ago,but the signs are still on the window.

[chiang mai]

My guess is that we're looking at falling rates over the next xx months, anything over 3% for a fixed rate bank deposit looks like good value to me so it's well worth reporting anything you see at that level, many people will be grateful for the info.

[scooterboy]

Yes, it does rather look like falling rates in the coming months. I see Omsin (Aomsin, if you like) - the pink bank - now has a 5 month fixed account promo at 2.10% (but don't have to pay tax).

Not a lot, but I think I'll use it, anyway, and maybe things will improve later on.

[henry2109]

Krungsri

special time deposit, 9 month, 2.70 %

Kasikorn Bank

13 month special deposit, 2,60 %

[JAS21]

CIMB 13months 3.2%

[jpinx]

Krungsri - Mee Tae Dai - minimum 100K gets 2.35% calculated daily. 2 free withdrawals a month.

http://www.krungsri.com/bank/en/PersonalBanking/DepositProducts/SavingsDeposit/MeeTaeDaiSavings.html

[JAS21]

It seems like interest rates will get worse in the near future. Did the 3.2% for 13months today. Each person can only open one of these accounts. Hope that you can read the scan of all their offers and my scribble! The 3.5% is regular monthly saving for two years... same amount each month.

Here is the Bangkok Bank latest offer ... just took money for CIMB from them today

Edited January 20, 2015 by JAS21

[KittenKong]

Each person can only open one of these accounts.

Are you sure? I have two. Or, to be more accurate, I have one passbook with two separate entries on two different dates each with the same term.

[12DrinkMore]

img075.jpgIt seems like interest rates will get worse in the near future. Did the 3.2% for 13months today. Each person can only open one of these accounts. Hope that you can read the scan of all their offers and my scribble! The 3.5% is regular monthly saving for two years... same amount each month.

Here is the Bangkok Bank latest offer ... just took money for CIMB from them today

BB.png

CIMB require a Thai national to go with you to open an account.

As I could not get a straight answer what rights/information will be given to the Thai under what circumstances, I refuse to deal with them.

[alfieconn]

img075.jpgIt seems like interest rates will get worse in the near future. Did the 3.2% for 13months today. Each person can only open one of these accounts. Hope that you can read the scan of all their offers and my scribble! The 3.5% is regular monthly saving for two years... same amount each month.

Here is the Bangkok Bank latest offer ... just took money for CIMB from them today

BB.png

CIMB require a Thai national to go with you to open an account.

As I could not get a straight answer what rights/information will be given to the Thai under what circumstances, I refuse to deal with them.

Even if you can speak and read Thai ?

Edited January 20, 2015 by alfieconn