Jump to content

Recommended Posts

Posted

what about kasikorn bank deposit plan 500 to 25000 thb monthly at 2.25 % respectively 3.3 % 24 to 36 month ????

wbr roobaa01

Sounds like an insurance product rather than a fixed rate savings plan, almost certainly. Do the math.

Posted

BORE-DA CM.interests are not that good are they,we were lucky all ours fixed,at 3.25%-2018,2.70%-2-17,those saving plans with a maximum of 25,000bht.a month, the wife managed to get a decent rate at thai credit union 3.60%.till feb.2017.

got one maturing in oct.2016 the wife was thinking about buying a property to rent,there's plenty about for sale at some very good prices,so what do you think about that CM.i dont think you will see a lot happening with interests for quite awhile.

i read that some of the small banks outshone the big boys,LH. was one of them,we have stuck with them for over 3yrs.and are always that little bit better.

they remind me they are more of a building society who in the uk.always spanked the big boys.

Posted

BORE-DA CM.interests are not that good are they,we were lucky all ours fixed,at 3.25%-2018,2.70%-2-17,those saving plans with a maximum of 25,000bht.a month, the wife managed to get a decent rate at thai credit union 3.60%.till feb.2017.

got one maturing in oct.2016 the wife was thinking about buying a property to rent,there's plenty about for sale at some very good prices,so what do you think about that CM.i dont think you will see a lot happening with interests for quite awhile.

i read that some of the small banks outshone the big boys,LH. was one of them,we have stuck with them for over 3yrs.and are always that little bit better.

they remind me they are more of a building society who in the uk.always spanked the big boys.

I fully agree about future interest rates, things are going to be poor on that front for quite a while I reckon, it's not good.

Rental property, possible, if you're up for the challenge then go for it, I can't think of any other sensible alternatives at the moment.

  • Like 1
Posted

once again : karsikorn bank taweesuup deposit 500 to 25000 thb monthly 24 months 2.25 %

taweesup extra deposit 500 to 25000 thb monthly 36 months , 3.3 %

NO INSURANCE

wbr roobaa01

Posted

Not happy at all with CIMB, my wife and daughter opened accounts with them

over 4 months ago,not fixed,but good rate(in today's world),and at the beginning

of every month since have lowered the rate given,that's 4 rate revisions in 4 months,

so I told my wife to ask them why rate is decreasing every month,they said the Government

is reducing the rates, which is B/S,to me it's a bait and switch scam. Banks and Lawyers

you just cannot trust them

regards Worgeordie

  • Like 1
Posted

once again : karsikorn bank taweesuup deposit 500 to 25000 thb monthly 24 months 2.25 %

taweesup extra deposit 500 to 25000 thb monthly 36 months , 3.3 %

NO INSURANCE

wbr roobaa01

Tax payable during first two or three years, recoverable? (it doesn't seem so, the web site says:"Get tax exemption for the interest earned after the deposit period is complete". )

Funds locked in for two three years, no good for retirement/marriage visa.

Miss a single payment in two or three years and loose tax exemption, interest on the entire product for the entire period, reverts to standard savings rate.

Make a withdrawl and loose tax exemption and the rate reverts to savings rate.

IMHO it's not an especially good deal and is not suitable for Immigration/visa purposes.

http://www.kasikornbank.com/EN/Personal/BankAccounts/Fixed/Pages/TaweesupSpecialFixedDeposit.aspx

Posted

Not happy at all with CIMB, my wife and daughter opened accounts with them

over 4 months ago,not fixed,but good rate(in today's world),and at the beginning

of every month since have lowered the rate given,that's 4 rate revisions in 4 months,

so I told my wife to ask them why rate is decreasing every month,they said the Government

is reducing the rates, which is B/S,to me it's a bait and switch scam. Banks and Lawyers

you just cannot trust them

regards Worgeordie

Their Speed Saver is 1.6% this month ...thought that it had been around that level for a while.

There rates seem to be attractive compared to Thai Banks ...

Posted

Not happy at all with CIMB, my wife and daughter opened accounts with them

over 4 months ago,not fixed,but good rate(in today's world),and at the beginning

of every month since have lowered the rate given,that's 4 rate revisions in 4 months,

so I told my wife to ask them why rate is decreasing every month,they said the Government

is reducing the rates, which is B/S,to me it's a bait and switch scam. Banks and Lawyers

you just cannot trust them

regards Worgeordie

Not only is CIMB's 1.6% Speed Savings just about the best deal available at the moment, but their basic savings account is now paying 1.6% also.

I know it sounds unlikely, but it's true. I opened an account last Saturday.

I find it a little worrying, actually.

Posted

@chiang mai

1. taweensup is nothing for cheap charlys.

2. a fixed deposit account is accepted for both marriage and retirement extension.

3. kasigorn bank is a safe investment.

4. cimb or the like pay maybe 1.6 % thats lousy after inflation rate being deducted.

5. royal bank off scotland in the uk plans to introduce negative interest rates for its saving account customers.....as well as westminister bank

now hence what ????

wbr roobaa01

Posted

5. royal bank off scotland in the uk plans to introduce negative interest rates for its saving account customers.....as well as westminister bank

Simply not true. Banks have changed their T&Cs to allow for the possibility of negative interest rates. At the moment they have no plans actually to introduce them.

Posted

@oxx

simply not true, where is your source, here mine www.ft.com, 260716, 11.21 am, RBS AND NAT WEST CONSIDER CHARGING BUSINESS CLIENTS TO HOLD CASH....55555 NO PLANS 55555....SAME LIKE AMBRO BANK

NOW WHAT

WBR ROOBAA01

Posted

@oxx

simply not true, where is your source, here mine www.ft.com, 260716, 11.21 am, RBS AND NAT WEST CONSIDER CHARGING BUSINESS CLIENTS TO HOLD CASH....55555 NO PLANS 55555....SAME LIKE AMBRO BANK

NOW WHAT

WBR ROOBAA01

I don't need a source. Your own words confirm what I wrote. You shouted "RBS AND NAT WEST CONSIDER CHARGING BUSINESS CLIENTS TO HOLD CASH." That is very different from what you wrote previously, namely "plans to introduce negative interest rates".

"Considering" is not the same as "planning".

That 100% supports what I wrote before, namely "Banks have changed their T&Cs to allow for the possibility of negative interest rates. At the moment they have no plans actually to introduce them."

Posted

@chiang mai

1. taweensup is nothing for cheap charlys.

2. a fixed deposit account is accepted for both marriage and retirement extension.

3. kasigorn bank is a safe investment.

4. cimb or the like pay maybe 1.6 % thats lousy after inflation rate being deducted.

5. royal bank off scotland in the uk plans to introduce negative interest rates for its saving account customers.....as well as westminister bank

now hence what ????

wbr roobaa01

I've no doubt Kasikorn is a safe bank (as far as safe banks go) investment wise.

No UK bank is planning to go to negative interest rates, yet, all they've done is change their T's & C's to cater to that possibility.

Even rich people forget to make deposits, it's not just cheap charlies!

This is not a fixed rate deposit, it's a feeder account of some description although exactly what it is confuses me. It has all the hallmarks of an insurance product but I can't see evidence of it being that.

Immigration rules state funds must be immediately available which they are with a fixed rate product, I suppose these funds would also be immediately available, the common denominator being loss of interest in both cases.

Fletch is reading perhaps he'd like to comment?

My take is that this is a product aimed at capturing customer loyalty over two or three years BUT also banking on the fact that a percentage of customers will either withdraw funds and cancel the higher rate of interest or, miss a payment and do the same thing.

Posted

Not happy at all with CIMB, my wife and daughter opened accounts with them

over 4 months ago,not fixed,but good rate(in today's world),and at the beginning

of every month since have lowered the rate given,that's 4 rate revisions in 4 months,

so I told my wife to ask them why rate is decreasing every month,they said the Government

is reducing the rates, which is B/S,to me it's a bait and switch scam. Banks and Lawyers

you just cannot trust them

regards Worgeordie

Not only is CIMB's 1.6% Speed Savings just about the best deal available at the moment, but their basic savings account is now paying 1.6% also.

I know it sounds unlikely, but it's true. I opened an account last Saturday.

I find it a little worrying, actually.

Oops! I need to correct my statement above:

I was in CIMB today and noticed, when I pulled out my new "basic" 1.6% account bank book, that it says Preferred on the front. So it turns out it is a basic account but it's a Preferred basic account and as such requires a minimum balance of 100,000 Baht. No tax taken out as long as the interest does not exceed 20,000 Baht in one year.

Still pretty good.

Posted

Re: negative rates - I stand corrected, Natwest is charging business customers only, no plans for retail accounts.

Sorry. Still not correct.

It remains a possibility, but has not (at least of yet) been implemented.

The BBC headline : "NatWest and RBS may charge firms to hold deposits". (Italics mine.)

https://www.theguardian.com/business/2016/jul/25/natwest-paves-way-for-introduction-of-negative-interest-rates

http://www.bbc.com/news/business-36889828

  • Like 1
Posted

@chiang mai

how can one forget ????if tkarsikorn would receive a standing order to deposit every months a certain amount thb on a certain day into the taweesup account for 36 months, naturally is to operate a savings account from where the money will be transferred automatically.

by the way ciiimb 1.6 % less iinflation rate 1.3% = you just make a meagee 0.3 % , taweesup 3,3 % less inflation rate 1.6 % = 1.7 % more than 5 times as much.

wbr roobaa01

Posted

@chiang mai

how can one forget ????if tkarsikorn would receive a standing order to deposit every months a certain amount thb on a certain day into the taweesup account for 36 months, naturally is to operate a savings account from where the money will be transferred automatically.

by the way ciiimb 1.6 % less iinflation rate 1.3% = you just make a meagee 0.3 % , taweesup 3,3 % less inflation rate 1.6 % = 1.7 % more than 5 times as much.

wbr roobaa01

Trust me, people do forget and the banks/credit people know this.

In the UK in the early 1990's there was a finance deal on soft furnishings, couches etc., (DFS I think) I can't be precise about the details but the mechanics of it were that if the customer bought at the headline price they would receive a 50% refund (or similar) five years hence, the catch was that the refund had to be claimed during business hours on a specific day, five years in the future. Later, somebody did a drains up on this which showed that despite selling over £600k of furniture, only 8% claimed the refund.

Posted

once again : karsikorn bank taweesuup deposit 500 to 25000 thb monthly 24 months 2.25 %

taweesup extra deposit 500 to 25000 thb monthly 36 months , 3.3 %

NO INSURANCE

wbr roobaa01

i think you'll find you've been given wrong information about this Kasikorn 3.3% account.

There's is an insurance component that you are obliged to sign up for with this account. Note: it is obligatory.

For the insurance component you pay a fixed amount for 6 years and at the end of 15 years you get the total of your six years' payment back plus an abysmal amount of interest. And, of course, you have the benefit of the wonderful insurance.

Posted

Not happy at all with CIMB, my wife and daughter opened accounts with them

over 4 months ago,not fixed,but good rate(in today's world),and at the beginning

of every month since have lowered the rate given,that's 4 rate revisions in 4 months,

so I told my wife to ask them why rate is decreasing every month,they said the Government

is reducing the rates, which is B/S,to me it's a bait and switch scam. Banks and Lawyers

you just cannot trust them

regards Worgeordie

Not only is CIMB's 1.6% Speed Savings just about the best deal available at the moment, but their basic savings account is now paying 1.6% also.

I know it sounds unlikely, but it's true. I opened an account last Saturday.

I find it a little worrying, actually.

Oops! I need to correct my statement above:

I was in CIMB today and noticed, when I pulled out my new "basic" 1.6% account bank book, that it says Preferred on the front. So it turns out it is a basic account but it's a Preferred basic account and as such requires a minimum balance of 100,000 Baht. No tax taken out as long as the interest does not exceed 20,000 Baht in one year.

Still pretty good.

Actually the Speed Savings ... which is basically a current account needs 1Mthb to get the 1.6% (this month anyway, but the amount does vary). My Preferred Accounts always have withholding tax taken off on maturity ... no problem to me as I reclaim it back from Mr Tax every January. Very unfortunately none of my Preferred Accounts deliver 20,000thb interest.

  • 3 weeks later...
Posted

Interest rates of Islamic Bank (highest in country AFAIK) as of 19/8/2016
3 months: 1.35%
6 months: 1.5%
12 months: 1.9%
24 months: 2.0%

 

That's it for me and fixed deposits, bought gold today with the matured funds (part of). One last deposit running at 2.6% till next year.

Posted
On 7/29/2016 at 10:46 PM, JAS21 said:

Actually the Speed Savings ... which is basically a current account needs 1Mthb to get the 1.6%

 

Below 1mTHB it's 1% for preferred accounts. Not much difference anyway. Fixed/saving deposits are no longer of interest.

Posted
20 minutes ago, MadMac said:

Interest rates of Islamic Bank (highest in country AFAIK) as of 19/8/2016
3 months: 1.35%
6 months: 1.5%
12 months: 1.9%
24 months: 2.0%

 

That's it for me and fixed deposits, bought gold today with the matured funds (part of). One last deposit running at 2.6% till next year.

How much is gold/Baht now ...

I'll use my Speed Savings account for extension of stay next year.   

  • 3 weeks later...
Posted
21 hours ago, ravip said:

Bangkok Bank says the Deposit protection is up to Baht 15 million 

What are their best interest rates for savings accounts and how are they compared to other banks?

Thank you.

 

you really need to visit the banks because they never advertise their promotion rates.

we use LH.bank a lot,best rate right now is 1.8% over 12months.fixed with 15% tax.deducted which you can reclaim.

  • Like 1
Posted

I have 30 K in U.K. Premium bonds,and have won 25-150 every month,except April,

so far this year it works out at 3% tax free, Yes I could have won nothing,but also

it could have been 1 Million.(not that lucky)

regards Worgeordie

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...