Bank Savings Interest Rates

[chiang mai]

I tried this now twice and they always ask what i work and where my money comes from and i never got my tax back. I dont work and i am not married. What am i doing wrong? I live in chiang mai is there a office who can do it for me for a charge?

what kind of savings accs.have you got.

do they give you the tax witheld certificates at the start of the new yr.

also what is your visa status.

we all find the tax revenue staff very helpfull.

so if you can give us a bit more info i am sure there are quite a few that will help you.

oh and dont use an agent,all the forms to fill in the tax staff will help you.

did they give you a tax id.this is your personel no.to quote when making a claim.

my wife done it all for me and yes she will be there next week.[korat ]

yes i get this tax form from my bank and the lady in the tax office filled the form and i got a receive but after a couple of weeks i get a call and they want to know where the money is from and what i work. My answer is the money is from germany and i dont work and than they say i have no right for a claim. thats when i stop doing anything 555 but i have an old tax id from south of thailand when i had a company and they used that number but i will try to change this next week here in cm

Anyone who pays tax in Thailand has a right to file a tax return, it's a legal requirement to do so, filing a tax return is the method you use to reclaim the tax on your fixed deposits.

The lady who told you that you couldn't claim is simply wrong, go back and tell her you want to file a tax return.

[chiang mai]

Has anyone else experienced problems in being allowed rto file a tax return in order to obtain a refund of tax on their fixed deposits and has anyone been required to complete a financial questionnaire beforehand?

[meatboy]

Has anyone else experienced problems in being allowed rto file a tax return in order to obtain a refund of tax on their fixed deposits and has anyone been required to complete a financial questionnaire beforehand?

HAPPY NEW YEAR CM. last yr.the wife claimed back the limit,they asked her where she got the money from to deposit 6million,it was from her house sale in the uk.reason excepted.

what can all of us wish for this ? it could be a mean lean 2016.

MEATBOY

[chiang mai]

Has anyone else experienced problems in being allowed rto file a tax return in order to obtain a refund of tax on their fixed deposits and has anyone been required to complete a financial questionnaire beforehand?

HAPPY NEW YEAR CM. last yr.the wife claimed back the limit,they asked her where she got the money from to deposit 6million,it was from her house sale in the uk.reason excepted.

what can all of us wish for this ? it could be a mean lean 2016.

MEATBOY

Happy New Year MB.

I don't know what it means at this stage apart from the refunds by foreigners appear to have appeared on the radar of the powers that be. I think we'll have to wait and see what gets reported in January by fellow posters.

[meatboy]

Has anyone else experienced problems in being allowed rto file a tax return in order to obtain a refund of tax on their fixed deposits and has anyone been required to complete a financial questionnaire beforehand?

HAPPY NEW YEAR CM. last yr.the wife claimed back the limit,they asked her where she got the money from to deposit 6million,it was from her house sale in the uk.reason excepted.

what can all of us wish for this ? it could be a mean lean 2016.

MEATBOY

Happy New Year MB.

I don't know what it means at this stage apart from the refunds by foreigners appear to have appeared on the radar of the powers that be. I think we'll have to wait and see what gets reported in January by fellow posters.

last yr.the wife had to go back twice with photo copies of my visa status and the international transfer certificate as i also claimed more than previous yrs.

there could be a black hole in this years revenue,wasnt there a tax scam.so i expect they will be more vigilant this yr.any way the wife will be there next week,so i will post whats what.

[chiang mai]

I may be wrong but I think there is a requirement for anyone who is resident in Thailand for tax purposes to file a tax return, if they had taxable interest during the year. That being the case I think that unless the law is changed it will be difficult for the tax office to refuse to allow tax returns by foreigners, without a massive stink.

[marino28]

Correct me if i am wrong but the best no fix account at the moment are at krungsri and tmb, right? I did not consider standard chartered becose I live in Pattaya. Thanks

[Henryford]

Correct me if i am wrong but the best no fix account at the moment are at krungsri and tmb, right? I did not consider standard chartered becose I live in Pattaya. Thanks

Yes i checked around most of them and ended up with TMB and Krungsri. Both have branches near me in Jomtien.

[Oorinara]

TMB No Fixed Account 1.9%

https://www.tmbbank.com/accounts/savings/tmb-no-fixed-account.html

SCBT eSaver 1.75%

https://www.sc.com/th/en/save/savings-esaver.html

Krungsri Mee Tae Dai 1.7%

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

Conditions such as minimum and max deposit, withdrawal limits, etc. varies.

[KittenKong]

TMB No Fixed Account 1.9%

https://www.tmbbank.com/accounts/savings/tmb-no-fixed-account.html

The blurb says "maximum 1.9%" without giving any more details (in English). TMB are very devious with their interest rates and I dont trust them. I used to have a no-fixed account but I closed it because they were endlessly messing about with the rate and applying special conditions that were only valid for a limited time and generally moving the goal posts. You could never tell exactly what rate you were really going to get.

https://www.tmbbank.com/en/rates/interestrate

[55Jay]

TMB No Fixed Account 1.9%

https://www.tmbbank.com/accounts/savings/tmb-no-fixed-account.html

The blurb says "maximum 1.9%" without giving any more details (in English). TMB are very devious with their interest rates and I dont trust them. I used to have a no-fixed account but I closed it because they were endlessly messing about with the rate and applying special conditions that were only valid for a limited time and generally moving the goal posts. You could never tell exactly what rate you were really going to get.

https://www.tmbbank.com/en/rates/interestrate

I'm sure you understand though, the rate will move according to a national benchmark. I, as did many, opened my Krungsi MTD accounts well over 2% and have watched them tumble to 1.7% at present. :-(

[12DrinkMore]

TMB No Fixed Account 1.9%

https://www.tmbbank.com/accounts/savings/tmb-no-fixed-account.html

The blurb says "maximum 1.9%" without giving any more details (in English). TMB are very devious with their interest rates and I dont trust them. I used to have a no-fixed account but I closed it because they were endlessly messing about with the rate and applying special conditions that were only valid for a limited time and generally moving the goal posts. You could never tell exactly what rate you were really going to get.

https://www.tmbbank.com/en/rates/interestrate

They used to be a bit elusive some time ago, but for several years they have remained constant, basic interest plus 0.25% provided no withdrawal in a month. If you make a withdrawal you lose the 0.25% for that month.

There is also the "quick interest fixed account, 1.8% for twelve months with the interest paid up front.

[Oorinara]

GHB's Special Super Saving, 1.85% p.a., seems also worth considering. Withdrawal twice a month without fee.

http://www.ghbank.co.th/en/content.php?id=40

[JAS21]

CIMB January 2016 ... if using for immigration the current account is the only one that you can update on the day.

[KittenKong]

They used to be a bit elusive some time ago, but for several years they have remained constant, basic interest plus 0.25% provided no withdrawal in a month. If you make a withdrawal you lose the 0.25% for that month.

There is also the "quick interest fixed account, 1.8% for twelve months with the interest paid up front.

I have had their quick interest accounts previously, and they are fine. It's the lack of clarity with the No Fixed account that I dont like. In most months I would expect to make one or two withdrawals for day-to-day expenditure and so I would lose the .25%, which immediately makes the account much less advantageous.

[KittenKong]

CIMB January 2016 ... if using for immigration the current account is the only one that you can update on the day.

New_img066.jpg

I used a CIMB fixed deposit for my extension this year without any trouble. That was in Jomtien though and they are known to be lenient with such things.

[KittenKong]

GHB's Special Super Saving, 1.85% p.a., seems also worth considering. Withdrawal twice a month without fee.

http://www.ghbank.co.th/en/content.php?id=40

Not bad. I see they have a branch in Central Festival in Pattaya. Does anyone know if it is helpful to farangs or one of the places that really doesnt want to bothered by them? I find that most bank branches in Central Festival are helpful.

[JAS21]

CIMB January 2016 ... if using for immigration the current account is the only one that you can update on the day.

New_img066.jpg

I used a CIMB fixed deposit for my extension this year without any trouble. That was in Jomtien though and they are known to be lenient with such things.

That's interesting ...how did you manage to get the book updated on on the day?

[chiang mai]

CIMB January 2016 ... if using for immigration the current account is the only one that you can update on the day.

New_img066.jpg

I used a CIMB fixed deposit for my extension this year without any trouble. That was in Jomtien though and they are known to be lenient with such things.

That's interesting ...how did you manage to get the book updated on on the day?

You can make an addition to an existing fixed term product, you will only get the rate that is in effect at the time and the addition need be only a small amount of money, that way you can get the update.

[JAS21]

CIMB January 2016 ... if using for immigration the current account is the only one that you can update on the day.

New_img066.jpg

I used a CIMB fixed deposit for my extension this year without any trouble. That was in Jomtien though and they are known to be lenient with such things.

That's interesting ...how did you manage to get the book updated on on the day?

You can make an addition to an existing fixed term product, you will only get the rate that is in effect at the time and the addition need be only a small amount of money, that way you can get the update.

Ah ...so that does work ...it was suggested to me to open an extra account on the day as all accounts are in the same book...I'll do that this year then ...thanks

[KittenKong]

CIMB January 2016 ... if using for immigration the current account is the only one that you can update on the day.

I used a CIMB fixed deposit for my extension this year without any trouble. That was in Jomtien though and they are known to be lenient with such things.

That's interesting ...how did you manage to get the book updated on on the day?

I didnt get it updated on the day. In fact I've never done that.

I go to the bank a day or two before and get the letter and stamped photocopy of the bank book. The letter (in Thai) presumably confirms that the copy is authentic, states the balance and confirms that the balance has been held until the date of the letter. I've done this with Kasikorn and TMB and most recently with CIMB.

This has never been refused at Jomtien.

Possibly the fact that my total deposits are much more than 800k helps? I also take the originals of other bank books (without letters) that also show a healthy balance, just in case. But I never update these specially either and I've never had to show them.

YMMV

[roobaa01]

gdaya folks,

im using land and housing bank, www.lhbank.co.th, pattaya klang big c .

step up 15 months 1.95 %, savings special 1.75, 12 months fixed 2.25 %.

as for marriage extension a fixed account can be used, provided you can access the funds under the provision your

balance does not drop below 400k.

wbr

roobaa01

[KittenKong]

gdaya folks,

im using land and housing bank, www.lhbank.co.th, pattaya klang big c .

step up 15 months 1.95 %, savings special 1.75, 12 months fixed 2.25 %.

That 12-month rate is above average and I may go with that when one of my CIMB deposits matures this month.

[Oorinara]

As for non fixed with limited free withdrawal per month, Kiatnakin provides 1.8% - 1.85% p.a.

http://www.kiatnakin.co.th/promotion-detail.php?id=31&mode=

[denby45]

gdaya folks,

im using land and housing bank, www.lhbank.co.th, pattaya klang big c .

step up 15 months 1.95 %, savings special 1.75, 12 months fixed 2.25 %.

That 12-month rate is above average and I may go with that when one of my CIMB deposits matures this month.

Went there today 12 months at 2.25% before tax. Initially I was refused because I didn't have my Thai driving license. However they agreed that a residents letter from Jomtien Immigration would suffice. No problem after I got that. Just happened that I was due my 90 day reporting on 12th. so I did that at the same time. As I was removing the cash from K bank the lady asked what I was going to do with the money. After I told her that I was opening an account at another bank and thus avoiding the crappy rate I was getting at K bank she offered me 10% for a 5 year fixed deposit. I was in a hurry to get to LH bank to open the new account so I was not able to get precise details. I told her I would return to find out more later.

Den

[KittenKong]

After I told her that I was opening an account at another bank and thus avoiding the crappy rate I was getting at K bank she offered me 10% for a 5 year fixed deposit. I was in a hurry to get to LH bank to open the new account so I was not able to get precise details. I told her I would return to find out more later.

Hmm. I suppose that must be 10% over the whole 5-year term, or 2% per year with no compounding.

In my experience Thais are very easily fooled by a big headline rate and they rarely seem to pay any attention to the small print.

[Oorinara]

After I told her that I was opening an account at another bank and thus avoiding the crappy rate I was getting at K bank she offered me 10% for a 5 year fixed deposit. I was in a hurry to get to LH bank to open the new account so I was not able to get precise details. I told her I would return to find out more later.

Hmm. I suppose that must be 10% over the whole 5-year term, or 2% per year with no compounding.

In my experience Thais are very easily fooled by a big headline rate and they rarely seem to pay any attention to the small print.

I'm afraid it's 2% * 5 years = 10% sort of misconception. Banks here often sell insurance products with such miscalculation ad.

[chiang mai]

Yes, that's almost certainly an insurance based product.

[sandmike]

I've just seen on the bangkok bank website, ministry of finance saving bonds. .. 3% pa, interest paid twice yearly 3 year term. Available until 29th February.

I know I'm late to the party, they've been available since last October, but it's the first time I've noticed them.

Any comments anyone ??

Sent by carrier pigeon

[AyG]

I've just seen on the bangkok bank website, ministry of finance saving bonds. .. 3% pa, interest paid twice yearly 3 year term. Available until 29th February.

I know I'm late to the party, they've been available since last October, but it's the first time I've noticed them.

Any comments anyone ??

Sent by carrier pigeon

Only available to Thai nationals and those with permanent residency.

Don't know whether the subscription amount will have been filled by now. My guess is, that it has.

A real pain if you have to sell before maturity. Have to find someone willing to buy who banks with the same bank.