Bank Savings Interest Rates

[RP26]

I have Thai citizenship so it was just ID + salary slip.

I'd say SC seems to be on the selected side when it comes to credit card applications. I didn't get it the first time, having just moved to Thailand with no credit history and all that. ( Lady at SC told me it's pretty much impossible to get a credit card with them if I don't have any other Thai CC. )

So I spent the next two-three months building my relationship with them, buying mutual funds through them, have a decent amount of cash sitting at the saving account. I also managed to get a CC from another bank shortly after I opened the account, I applied again 3 months later and got the card.

If you don't have WP the relationship building thing might help. Not sure how big the factor was in my case.

[Oorinara]

StanChart Bonus Saver

https://www.sc.com/th/personal-banking/deposits/savings-account/bonus-saver/en/

Can be either ATM debit card or credit card, for 8k Baht spending requirement. Catch is that 5% interest payable only onto up to 200k Baht outstanding balance. Still good though.

[Happy Grumpy]

What's the Mee Tae Dai interest rate nowadays?

I think it was 2.65% when I put some money in, then went down to 2.35%, then maybe down to 2%? I wasn't paying attention. Any info on the current rate?

[AyG]

You can always see the current rates via https://www.krungsri.com/bank/en/Other/Interestratesfees/Depositinterestrate.html

But to answer your question, 1.8%.

[jm49er1]

Bangkok Bank CD offers 4 months 1.625% 7 months 1.75% 10 months 1.875%

[DPGumbypgh]

Government Housing savings bank still offers 2.25% for high savings account and new premier savings account. It is variable though and can go down if the base rate is lowered again.

[jpinx]

Taking a variable rate on a fixed term is a bit like... (your favourite waste of time in here)

[chiang mai]

Taking a variable rate on a fixed term is a bit like... (your favourite waste of time in here)

I believe the poster is not referring to fixed term accounts.

[jpinx]

I believe you're right but I'll leave it as a general comment anyway as there are other offerings which are easy to mis-interpret

[fletchsmile]

Quite a few rates around above 2.25% - particularly on TDs and promotion accounts

[soap]

According to the CIMB website,their seniors one year account pays 2.15% tax free maximum one million฿

[chiang mai]

According to the CIMB website,their seniors one year account pays 2.15% tax free maximum one million฿

For Thai's only

[scatalyst]

 

Quite a few rates around above 2.25% - particularly on TDs and promotion accounts

 

Excellent. I have a fixed deposit coming due later this month. Would you be so kind as to provide some specifics and/or links? The main reason I check this thread is so that I don't have to go click-searching all over the web looking for the higher rates and good account options. TIA

[AyG]

Quite a few rates around above 2.25% - particularly on TDs and promotion accounts

Unfortunately, not with Bangkok Bank (4 month, 1.625%; 10 month, 1.875%) or Krung Sri (5 month, 1.75%; 10 month, 1.9%).

[fletchsmile]

Quite a few rates around above 2.25% - particularly on TDs and promotion accounts

Unfortunately, not with Bangkok Bank (4 month, 1.625%; 10 month, 1.875%) or Krung Sri (5 month, 1.75%; 10 month, 1.9%).

To improve on the ones you listed with BBL, AyG, you need to go to longer tenors. 24m would get you the 2.25%. Or there's a place you could go to see a man about a dog and see a wider list

Edited August 10, 2015 by fletchsmile

[soap]

According to the CIMB website,their seniors one year account pays 2.15% tax free maximum one million฿

For Thai's only

As my current seniors account with CIMB matures next week,i asked today about renewing the account at my local branch.

The manager told me the rate is 2.15% no tax maximun one million ฿ one year period.

I am not Thai

[chiang mai]

According to the CIMB website,their seniors one year account pays 2.15% tax free maximum one million฿

For Thai's only

As my current seniors account with CIMB matures next week,i asked today about renewing the account at my local branch.

The manager told me the rate is 2.15% no tax maximun one million ฿ one year period.

I am not Thai

As of current times the senior accounts are primarily for Thai seniors, however some branches will open them on presentation of a Tabien Bahn. Also, it is possible that some posters may have long standing senior accounts that were available before the restrictions mentioned above were brought in, rolling over such accounts is probably quite dooable, as you have said.

[jvc]

UOB doing a one week promotion.

2.5% for 6 months - THB 500,000 to THB 1,000,000 per customer.

Don't know about the e-coupon, was not asked for it.

Details below

3.20 UOB Fixed Deposit with Monthly Interest Payment for customers who have e – coupon from UOB Thai - LINE Official Account and present the e-coupon at any UOB branches in order to open 6-month fixed deposit during 10 -16 August 2015 * 6 months 2.50 - - - - - - - - Amount from THB 500,000 - THB 1,000,000 (Please refer to the conditions as specified in item 2.13)

http://www.uob.co.th/th/announcement/deposite-rates/2015/10Aug2015_en.pdf

[AyG]

UOB doing a one week promotion.

Completely off topic, but I looked at the UOB website and found this little gem on http://www.uob.co.th/en/personal/deposit-normal-saving.html :

<meta name="keywords" content="UOB Savings Account, key words, key words, key words, key words, key words, key words, key words, key words, key words, key words, key words, key words, key words, " />

<meta name="description" content="UOB Savings Account, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, " />

[fletchsmile]

UOB doing a one week promotion.

Completely off topic, but I looked at the UOB website and found this little gem on http://www.uob.co.th/en/personal/deposit-normal-saving.html :

<meta name="keywords" content="UOB Savings Account, key words, key words, key words, key words, key words, key words, key words, key words, key words, key words, key words, key words, key words, " />

<meta name="description" content="UOB Savings Account, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, meta description blar blar blar, " />

Standard issue translation for Thai bank staff. It describes what farang are saying when they come into complain

[EmptyHead]

I just opened the Bankok Bank Sinmathaya Subthawee account.

2.50% Tax free if you dont miss a payment for 48 months.

Any of you guys have KTB's Zero Tax accounts? Aparrently up over 3% right now.

[MadMac]

Updated rates - Islamic Bank

3 months - 1.65%

6 months - 2.0%

12 months - 2.3%

24 months - 2.6%

[JAS21]

CIMB are still giving 1.8% on their current account for 1M+ ... they seem to change the amount required to get the top rate every month.

A couple of weeks ago madam bought one of their bonds BBB+ about 4.95%pa ...interest paid every 3 months ..a 6 year investment

[jvc]

JAS21, how does one go about buying CIMB bonds, or any bonds for that matter, in Thailand?

[JAS21]

JAS21, how does one go about buying CIMB bonds, or any bonds for that matter, in Thailand?

Just go to your bank, or any bank and ask what they have. They don't have them available all the time. Also it may be difficult to 'obtain' a good offer as they will be gone before the issue date. Be careful of the rating ... not less than BBB+ in my opinion and you should be ok. When we found out about that issue all the 5.2% (7 year bonds) had gone.

I know that BB have some now but don't know 'what's what' with them. I bought some BB ones three or so years ago at about 5% (mature 2022) so they have been okay so far... you can claim your tax back just like any savings account.

[jpinx]

JAS21, how does one go about buying CIMB bonds, or any bonds for that matter, in Thailand?

Just go to your bank, or any bank and ask what they have. They don't have them available all the time. Also it may be difficult to 'obtain' a good offer as they will be gone before the issue date. Be careful of the rating ... not less than BBB+ in my opinion and you should be ok. When we found out about that issue all the 5.2% (7 year bonds) had gone.

I know that BB have some now but don't know 'what's what' with them. I bought some BB ones three or so years ago at about 5% (mature 2022) so they have been okay so far... you can claim your tax back just like any savings account.

I have trawled the english language version of Krungsri banks website and find nothing about bonds Any clues anyone ?

[TallGuyJohninBKK]

Saw this being promoted at a Krungsri branch today:

9 months account, min 10K to open, average blended rate 2.05%. 3 different interest rates over the account period.

AFAIK, that 2.05% blended rate is better than their current Mee Tai Dai rate. But I'm not sure how they handle tax withholding for this one.

[chiang mai]

Account averaging is fairly common here, customers have to ask themselves whether the headline rate of 2.55% will be bettered in under five (not nine) months time in light of forecast interest rate rises in the West. The second part of the question regarding five versus nine is what the penalties are for early withdrawal, clearly, as with most interest rate averaging accounts, they are punitive - expect to receive a rate of 0.50% for the term for early withdrawal.

[TallGuyJohninBKK]

I agree the 2.55% teaser rate is irrelevant. But the 2.05% blended rate isn't.

Re early withdrawal, presumably that shouldn't be too much of an issue for a 9 month account.

As for the future direction of Thai interest rates, they've been continuing downward lately. I don't see anything on the immediate horizon for Thailand that's suggesting any kind of meaningful upward tick in local interest rates in the near future, U.S. Fed notwithstanding. And, once again, it's only a 9 month duration account.

Edited August 20, 2015 by TallGuyJohninBKK

[JAS21]

JAS21, how does one go about buying CIMB bonds, or any bonds for that matter, in Thailand?

Just go to your bank, or any bank and ask what they have. They don't have them available all the time. Also it may be difficult to 'obtain' a good offer as they will be gone before the issue date. Be careful of the rating ... not less than BBB+ in my opinion and you should be ok. When we found out about that issue all the 5.2% (7 year bonds) had gone.

I know that BB have some now but don't know 'what's what' with them. I bought some BB ones three or so years ago at about 5% (mature 2022) so they have been okay so far... you can claim your tax back just like any savings account.

I have trawled the english language version of Krungsri banks website and find nothing about bonds Any clues anyone ?

From BB Site ... http://www.bangkokbank.com/BangkokBankThai/Documents/Site%20Documents/Bonds/SB58-2_SumProspectus.pdf ... 3 year Bonds paying 3% I think. You can claim the withholding tax back. Get your wife to translate ... apparently some still left after all this time ... BB told my wife that there had not been a huge take up ... offer ends the end of this month ...