Bank Savings Interest Rates

[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 ?

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 ...

Thanks for the link I can only assume that Krungsri don't do bonds,,,,,

[AyG]

Thanks for the link I can only assume that Krungsri don't do bonds,,,,,

I think you may not be fully understanding bonds.

Bonds are issued by institutions wishing to raise additional capital. At the moment KrungSri doesn't need to raise capital, so there are no bond offers available. Such offers are infrequent and typically only open for a few days or weeks.

After the bonds have been issued they are traded on the secondary market and are bought and sold through brokers (not the issuer) according to the prevailing market price which will vary with current interest rates and predictions. The yield may be higher or lower than that quoted when the bond was issued.

Unless you buy a bond at issue and hold it to maturity (a) you may not get all your initial investment back, and ( you may not receive the interest (coupon) rate quoted.

[jpinx]

Thanks for the link I can only assume that Krungsri don't do bonds,,,,,

I think you may not be fully understanding bonds.

Bonds are issued by institutions wishing to raise additional capital. At the moment KrungSri doesn't need to raise capital, so there are no bond offers available. Such offers are infrequent and typically only open for a few days or weeks.

After the bonds have been issued they are traded on the secondary market and are bought and sold through brokers (not the issuer) according to the prevailing market price which will vary with current interest rates and predictions. The yield may be higher or lower than that quoted when the bond was issued.

Unless you buy a bond at issue and hold it to maturity (a) you may not get all your initial investment back, and ( you may not receive the interest (coupon) rate quoted.

Ah .... !

[jvc]

Thai Bond Market info here

http://www.thaibma.or.th/PriceYield.html

[jvc]

Commercial Bank savings and fixed interest rates updated daily. In English.

https://www.bot.or.th/English/Statistics/FinancialMarkets/Interestrate/_layouts/application/interest_rate/IN_Rate.aspx

[jpinx]

Commercial Bank savings and fixed interest rates updated daily. In English.

https://www.bot.or.th/English/Statistics/FinancialMarkets/Interestrate/_layouts/application/interest_rate/IN_Rate.aspx

Thanks for those 2 links I saw the banks summary page before and the only comment was that it apparently does not show any promotions.

[Stan42]

Hi,

Please treat me like a complete newbie.

-I have Thai citizenship.

-I have a debit card account with the Bangkok Bank, where half of my income goes.

-I have a savings account with the Bangkok Bank where a quarter of my income goes.

I'm looking for the best long-term savings account (obviously with good interest rates). The starting amount would be 40k, and I'd be able to put in 10k at the end of each month. It's a purely input account which I intend to use to accumulate savings over several years.

What bank can you recommend? Please post the interest rate and any hidden terms and conditions.

Thanks in advance.

[chiang mai]

Hi,

Please treat me like a complete newbie.

-I have Thai citizenship.

-I have a debit card account with the Bangkok Bank, where half of my income goes.

-I have a savings account with the Bangkok Bank where a quarter of my income goes.

I'm looking for the best long-term savings account (obviously with good interest rates). The starting amount would be 40k, and I'd be able to put in 10k at the end of each month. It's a purely input account which I intend to use to accumulate savings over several years.

What bank can you recommend? Please post the interest rate and any hidden terms and conditions.

Thanks in advance.

Please see the link in post 1839 (two before yours) for the information you require.

[jpinx]

Hi,

Please treat me like a complete newbie.

-I have Thai citizenship.

-I have a debit card account with the Bangkok Bank, where half of my income goes.

-I have a savings account with the Bangkok Bank where a quarter of my income goes.

I'm looking for the best long-term savings account (obviously with good interest rates). The starting amount would be 40k, and I'd be able to put in 10k at the end of each month. It's a purely input account which I intend to use to accumulate savings over several years.

What bank can you recommend? Please post the interest rate and any hidden terms and conditions.

Thanks in advance.

You might consider getting a term deposit for the initial lump of cash, which will have an interest rate fixed for the term you choose. The accounts which offer interest on monthly input at seemingly good rates will inevitably deteriorate over time, as evidenced by previous experience. It might be good enough for you to use one of them to build another lump of cash for a term deposit. It's really not easy to wade through all the bank offerings and promotions and keeping a watch on this thread would possibly be good for you. The webpages which give a summary of all banks are fine, but they miss all the promotions and you always need to check the individual bank website for the up-to-date info. Hope that helps...

[Stan42]

Hi,

Please treat me like a complete newbie.

-I have Thai citizenship.

-I have a debit card account with the Bangkok Bank, where half of my income goes.

-I have a savings account with the Bangkok Bank where a quarter of my income goes.

I'm looking for the best long-term savings account (obviously with good interest rates). The starting amount would be 40k, and I'd be able to put in 10k at the end of each month. It's a purely input account which I intend to use to accumulate savings over several years.

What bank can you recommend? Please post the interest rate and any hidden terms and conditions.

Thanks in advance.

You might consider getting a term deposit for the initial lump of cash, which will have an interest rate fixed for the term you choose. The accounts which offer interest on monthly input at seemingly good rates will inevitably deteriorate over time, as evidenced by previous experience. It might be good enough for you to use one of them to build another lump of cash for a term deposit. It's really not easy to wade through all the bank offerings and promotions and keeping a watch on this thread would possibly be good for you. The webpages which give a summary of all banks are fine, but they miss all the promotions and you always need to check the individual bank website for the up-to-date info. Hope that helps...

I'm aware of these promotions and some of my friends really do look out for promotions, put their money down, then after they get their interest and the promotion runs out, they withdrawal all the money and look for the next promotion.

But I'm looking for a long term, as in decades, savings account. I don't want to keep moving my money around and pay attention to the latest offers.

I've talked to the Thai side of my family. My Khun Yai suggested the Krung Thai bank, she's had an account there for over 30 years. They offer 1.7%. My Mom suggested the Tanakarn Oomsin or the Government Savings Bank (but they haven't updated their site since 2010).

So, could you perhaps give me the name of a bank you would recommend?

[jpinx]

Hi,

Please treat me like a complete newbie.

-I have Thai citizenship.

-I have a debit card account with the Bangkok Bank, where half of my income goes.

-I have a savings account with the Bangkok Bank where a quarter of my income goes.

I'm looking for the best long-term savings account (obviously with good interest rates). The starting amount would be 40k, and I'd be able to put in 10k at the end of each month. It's a purely input account which I intend to use to accumulate savings over several years.

What bank can you recommend? Please post the interest rate and any hidden terms and conditions.

Thanks in advance.

You might consider getting a term deposit for the initial lump of cash, which will have an interest rate fixed for the term you choose. The accounts which offer interest on monthly input at seemingly good rates will inevitably deteriorate over time, as evidenced by previous experience. It might be good enough for you to use one of them to build another lump of cash for a term deposit. It's really not easy to wade through all the bank offerings and promotions and keeping a watch on this thread would possibly be good for you. The webpages which give a summary of all banks are fine, but they miss all the promotions and you always need to check the individual bank website for the up-to-date info. Hope that helps...

I'm aware of these promotions and some of my friends really do look out for promotions, put their money down, then after they get their interest and the promotion runs out, they withdrawal all the money and look for the next promotion.

But I'm looking for a long term, as in decades, savings account. I don't want to keep moving my money around and pay attention to the latest offers.

I've talked to the Thai side of my family. My Khun Yai suggested the Krung Thai bank, she's had an account there for over 30 years. They offer 1.7%. My Mom suggested the Tanakarn Oomsin or the Government Savings Bank (but they haven't updated their site since 2010).

So, could you perhaps give me the name of a bank you would recommend?

Not being a financial advisor, to recommend a bank would be irresponsible, but it would appear that you are prepared to accept a rate of interest that is less than inflation, so you might as well bury the money in the garden Most people look for 5 or 10 year term deposits at a decent rate and are prepared to do the small administration work of moving them along at the end of the term. Things can change a lot in ten years, even five, especially in a country with a history of change such as this. Everyone views their personal investments and savings in the light of their own experience and requirements, so there is no "one bank fits all" solution

[55Jay]

Hi,

Please treat me like a complete newbie.

-I have Thai citizenship.

-I have a debit card account with the Bangkok Bank, where half of my income goes.

-I have a savings account with the Bangkok Bank where a quarter of my income goes.

I'm looking for the best long-term savings account (obviously with good interest rates). The starting amount would be 40k, and I'd be able to put in 10k at the end of each month. It's a purely input account which I intend to use to accumulate savings over several years.

What bank can you recommend? Please post the interest rate and any hidden terms and conditions.

Thanks in advance.

You might consider getting a term deposit for the initial lump of cash, which will have an interest rate fixed for the term you choose. The accounts which offer interest on monthly input at seemingly good rates will inevitably deteriorate over time, as evidenced by previous experience. It might be good enough for you to use one of them to build another lump of cash for a term deposit. It's really not easy to wade through all the bank offerings and promotions and keeping a watch on this thread would possibly be good for you. The webpages which give a summary of all banks are fine, but they miss all the promotions and you always need to check the individual bank website for the up-to-date info. Hope that helps...

I'm aware of these promotions and some of my friends really do look out for promotions, put their money down, then after they get their interest and the promotion runs out, they withdrawal all the money and look for the next promotion.

But I'm looking for a long term, as in decades, savings account. I don't want to keep moving my money around and pay attention to the latest offers.

I've talked to the Thai side of my family. My Khun Yai suggested the Krung Thai bank, she's had an account there for over 30 years. They offer 1.7%. My Mom suggested the Tanakarn Oomsin or the Government Savings Bank (but they haven't updated their site since 2010).

So, could you perhaps give me the name of a bank you would recommend?

If you really aren't interested in higher risk for potentially higher return or the hassle of chasing bank balloons for .5 to 1% more interest, then why don't you take a look at Krung Si Mee Tae Dai (MTD) account? https://www.krungsri.com/bank/en/PersonalBanking/DepositProducts/SavingsDeposit/MeeTaeDaiSavings.html

I did one Bangkok Bank fixed account with the pot of money I brought into Thailand, then moved it all into MTD accounts afterward.

Money is in one place at a higher than normal savings rate, accessible without penalty twice a month, internet banking, interest is compounded and paid monthly, and virtually tax free if the interest remains under 20,000 during the calendar year = no messing around with the Tax Man.

Even though the rate has fallen to 1.8% now, I've retained the accounts for the convenience, and my own laziness. LOL.

[12DrinkMore]

Not being a financial advisor, to recommend a bank would be irresponsible, but it would appear that you are prepared to accept a rate of interest that is less than inflation, so you might as well bury the money in the garden Most people look for 5 or 10 year term deposits at a decent rate and are prepared to do the small administration work of moving them along at the end of the term. Things can change a lot in ten years, even five, especially in a country with a history of change such as this. Everyone views their personal investments and savings in the light of their own experience and requirements, so there is no "one bank fits all" solution

I know of precisely no one who is looking at five or ten year deposits.

So, IME, "most people" is in the minority of zero.

Which is not "most people".

[chiang mai]

Once again: the stated purpose of this thread is to identify the different savings rates of products on offer in Thailand, without too much side chat, that is what YOU said you wanted and you remind us of this fairly often.

Can we please therefore restrict the dialogue to its stated objective and where necessary, open additional topics to answer ancillary questions.

Thanks.

[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 Tae Dai rate. But I'm not sure how they handle tax withholding for this one.

Krungsri 1.jpg

Krungsri 2.jpg

Re this account I posted on above, stopped by my local Krungsri branch today to inquire with two questions:

1. Re crediting of interest, it is done monthly, and transferred to a separate savings account with them.

2. Re withholding of interest, yes, they will deduct the Thai 15% tax from the interest credits.

That's what the new accounts CSR told me.

[TallGuyJohninBKK]

Meanwhile, on the way to Krungsri, I stopped by my local Bangkok Bank branch, since they seem to be regularly posting a photocopy sheet of their current account promotions in their front window... Nothing much to get excited about.

[balo]

Still 2 % for the special savings account with LH I mentioned earlier in this thread. Min. deposit 500k.

Edited August 27, 2015 by balo

[Henryford]

I've got a Bangkok Bank investment maturing soon and looking for places to put the money. These two seem about the best at the moment. Anyone use GH Bank, never really heard of it before.

[AyG]

The GH Rate is for 100,000 to 20,000,000 baht. It would appear this is very similar to Krung Sri's Mee Tae Dai account (albeit with higher interest): variable interest rate, two free withdrawals/month.

If you want a fixed interest rate they also offer a fixed 5 year deposit with 2.375%.

The Thanachart offer is a fixed 10 month account and only pays 2.15% for balances over 25 million baht. For 1-25 million the rate is 2.10%.

[Rimmer]

An off topic rant in strange colours and wierd fonts has been removed

[TallGuyJohninBKK]

I haven't heard much in the way of farangs having much success in opening accounts with Government Housing Bank...

[jpinx]

Some links to rate pages that might be useful...

.http://www.ghbank.co.th/en/content.php?id=40 _ _ _ GHBank _ _
.http://www.gsb.or.th/interest/index.php _ _ _ gsb.or.th _ _
.http://www.kiatnakin.co.th/rate.php _ _ _ kiatnakin.co.th _ _
.http://www.kasikornbank.com/EN/RatesAndFees/Deposit/Pages/Deposit.aspx _ _ _ KASIKORNBANK _ _
.http://www.tmbbank.com/rates/interestrate-en.php _ _ _ TMB Bank _ _
.http://thailand.deposits.org/ _ _ _ Deposit Rates Thailand _ _
.http://www.krungsri.com/bank/PersonalBanking/DepositProducts/SavingsDeposit/MeeTaeDaiSavings.html#RemarkLink523 _ _ _ KrungsriRates _ _
.http://www.bot.or.th/english/statistics/financialmarkets/interestrate/_layouts/application/interest_rate/IN_Rate.aspx _ _ _ AllThBanks _

Edited September 5, 2015 by jpinx

[stament]

What do government bonds and AA rated companies pay out of interest? Is there a thread somewhere on that?

[DPGumbypgh]

I haven't heard much in the way of farangs having much success in opening accounts with Government Housing Bank...

I opened one but had thai girlfriend with me at the time. Didn't ask for anything special just passport and money. I have retirement extension though not tourist visa.

[Stan42]

Okay, so I have to ask for your opinions. Following an informative post in this thread I went to the TMB. The TMB's 2.83% account had a catch: I would have had to pay taxes, resulting in an overall less than 2% interest. So instead, a few days ago I opened up a "TMB No Fixed Account" which pays out exactly 2% twice a year without any taxes whatsoever. The account has no fixed time frame and I can withdraw my money anytime or keep the account for years on end (of course always watching out if there's a change in the interest rate).

My question is: Is 2.0% interest a good deal, or should I have looked around more?

[Anthony5]

Okay, so I have to ask for your opinions. Following an informative post in this thread I went to the TMB. The TMB's 2.83% account had a catch: I would have had to pay taxes, resulting in an overall less than 2% interest. So instead, a few days ago I opened up a "TMB No Fixed Account" which pays out exactly 2% twice a year without any taxes whatsoever. The account has no fixed time frame and I can withdraw my money anytime or keep the account for years on end (of course always watching out if there's a change in the interest rate).

My question is: Is 2.0% interest a good deal, or should I have looked around more?

How can 15% withholding tax on 2.85% result in overall interest of less than 2%?

[meatboy]

Okay, so I have to ask for your opinions. Following an informative post in this thread I went to the TMB. The TMB's 2.83% account had a catch: I would have had to pay taxes, resulting in an overall less than 2% interest. So instead, a few days ago I opened up a "TMB No Fixed Account" which pays out exactly 2% twice a year without any taxes whatsoever. The account has no fixed time frame and I can withdraw my money anytime or keep the account for years on end (of course always watching out if there's a change in the interest rate).

My question is: Is 2.0% interest a good deal, or should I have looked around more?

no fixed account interest 2% paid twice a yr.but surely you must maintain a certain balance,normally around 500,000bht.

[meatboy]

Okay, so I have to ask for your opinions. Following an informative post in this thread I went to the TMB. The TMB's 2.83% account had a catch: I would have had to pay taxes, resulting in an overall less than 2% interest. So instead, a few days ago I opened up a "TMB No Fixed Account" which pays out exactly 2% twice a year without any taxes whatsoever. The account has no fixed time frame and I can withdraw my money anytime or keep the account for years on end (of course always watching out if there's a change in the interest rate).

My question is: Is 2.0% interest a good deal, or should I have looked around more?

2.83% is a good deal,why didnt you open it? you can claim the tax BACK every yr.

[fletchsmile]

Okay, so I have to ask for your opinions. Following an informative post in this thread I went to the TMB. The TMB's 2.83% account had a catch: I would have had to pay taxes, resulting in an overall less than 2% interest. So instead, a few days ago I opened up a "TMB No Fixed Account" which pays out exactly 2% twice a year without any taxes whatsoever. The account has no fixed time frame and I can withdraw my money anytime or keep the account for years on end (of course always watching out if there's a change in the interest rate).

My question is: Is 2.0% interest a good deal, or should I have looked around more?

no fixed account interest 2% paid twice a yr.but surely you must maintain a certain balance,normally around 500,000bht.

No minimum amount. "No fixed" is supposed to mean that there is no fixed term. The 2% actually includes a bonus of 0.5% which you get if you increase your balance each month

[jpinx]

Okay, so I have to ask for your opinions. Following an informative post in this thread I went to the TMB. The TMB's 2.83% account had a catch: I would have had to pay taxes, resulting in an overall less than 2% interest. So instead, a few days ago I opened up a "TMB No Fixed Account" which pays out exactly 2% twice a year without any taxes whatsoever. The account has no fixed time frame and I can withdraw my money anytime or keep the account for years on end (of course always watching out if there's a change in the interest rate).

My question is: Is 2.0% interest a good deal, or should I have looked around more?

no fixed account interest 2% paid twice a yr.but surely you must maintain a certain balance,normally around 500,000bht.

No minimum amount. "No fixed" is supposed to mean that there is no fixed term. The 2% actually includes a bonus of 0.5% which you get if you increase your balance each month

"NO FIXED" for sure means a variable rate, so it's pretty sure to be an opening offer which will change within a few months.