Bank Savings Interest Rates

[roobaa01]

lh bank 3 months 1.45 %, 6  months 1.5 %, 9 momths 1.6 %, 12 months 1.7 %., 18 months 1.8 %.

the lh branch is located in big c, pattaya, klang, 1 rst floor.

 

 

i would not go for 36 months for the bot is expected to raise its rates by the midst of next year.

basically you can open accounts in bkk and use your savings passbook in pattaya, but for convenience i would open the accounts in pattaya.

 

wbr roobaa01

[smedly]

42 minutes ago, moogradod said:

I have assumed 1.6% in my overall planning. Have to put in money well in excess of 30 Mio, will yield quite a number of accounts. LH Bank with more than 1 Mio would be OK to me, but this over the government guarantee - isn't it. Well, dont know if this is really of importance. My wife has now only a normal saving account at BKK Bank. Hope she can easily open additional accounts with other banks. We will have about 2-3 weeks for this banking task. Does it matter whether you open the account with the subisidiary (Pattaya, where we will live) or better in BKK ? I would not think so, but not sure. We will look at LH (I have to admit I have never heard of it). I might go the Thai Elite Visa route - so do not need this 800K.

you can use a savings account for your 800k rather than squander 500k on EV

[macahoom]

1 hour ago, moogradod said:

I have assumed 1.6% in my overall planning. Have to put in money well in excess of 30 Mio, will yield quite a number of accounts. LH Bank with more than 1 Mio would be OK to me, but this over the government guarantee - isn't it. Well, dont know if this is really of importance. My wife has now only a normal saving account at BKK Bank. Hope she can easily open additional accounts with other banks. We will have about 2-3 weeks for this banking task. Does it matter whether you open the account with the subisidiary (Pattaya, where we will live) or better in BKK ? I would not think so, but not sure. We will look at LH (I have to admit I have never heard of it). I might go the Thai Elite Visa route - so do not need this 800K.

You say:

"LH Bank with more than 1 Mio would be OK to me, but this over the government guarantee - isn't it." 

 

No! It is 15 million baht until, at the earliest, the 10th August, 2018.

[Crossy]

A post with possible legal implications has been removed.   We do not allow 'name and shame' posts or topics.  

[meatboy]

15 hours ago, moogradod said:

I have assumed 1.6% in my overall planning. Have to put in money well in excess of 30 Mio, will yield quite a number of accounts. LH Bank with more than 1 Mio would be OK to me, but this over the government guarantee - isn't it. Well, dont know if this is really of importance. My wife has now only a normal saving account at BKK Bank. Hope she can easily open additional accounts with other banks. We will have about 2-3 weeks for this banking task. Does it matter whether you open the account with the subisidiary (Pattaya, where we will live) or better in BKK ? I would not think so, but not sure. We will look at LH (I have to admit I have never heard of it). I might go the Thai Elite Visa route - so do not need this 800K.

LH.bank is what the initials stand for LAND AND HOUSE,they own terminal 21 and have been building houses for yonks.

they are like the old building society's back home,always a little bit better than the big banks.

another to consider is THAI CREDIT UNION [thais only] the wife has a few acc.with them.

[davehowden]

Does anybody know if the L&H FDR is acceptable by Chiang Mai Immigration for the 800,000 baht deposit?

 

Many thanks.

[meatboy]

21 hours ago, davehowden said:

Does anybody know if the L&H FDR is acceptable by Chiang Mai Immigration for the 800,000 baht deposit?

 

Many thanks.

I have had mine with L&H BANK for 7yrs.and the letter for immigration is very professional.

[Oxx]

4 minutes ago, easymoneythailand said:

I've opened a 2 year fixed deposit at Krung Thai Bank. And they're paying 1.95% interest per month.

 

I bet you haven't.  1.95%/month is simply impossible.  Perhaps you meant 1.95%/year.

 

However, looking at the Krung Thai rates, you should be getting the October 28th rates, which for a two year fixed deposit are 1.45%/year.  (The December 24th and 25th rates are the same.)

[davehowden]

8 minutes ago, easymoneythailand said:

I've opened a 2 year fixed deposit at Krung Thai Bank. And they're paying 1.95% interest per month.

23.40% per annum, that's very good.

[Oxx]

29 minutes ago, davehowden said:

39 minutes ago, easymoneythailand said:

I've opened a 2 year fixed deposit at Krung Thai Bank. And they're paying 1.95% interest per month.

23.40% per annum, that's very good.

 

That would be compound interest, so more like 26.1%.

[bttao]

What's the interest Rate on Regular Savings  Deposits?

What's the penalty on deposit withdrawal for Fixed Deposits.

 

TIA 

 

[BobTH]

1 hour ago, bttao said:

What's the interest Rate on Regular Savings  Deposits?

What's the penalty on deposit withdrawal for Fixed Deposits.

 

TIA 

 

Question 1. That would depend on the bank, most are around 0.5000.

Question 2. That would depend on the bank but for most there would be no penalty per say, you would just loose all of your interest. I am not sure if some will allow partial fixed account withdrawals or not.

 

[orientalist]

Thanachart has a new promotion. Their Ultra Savings account now pays 1.5% untaxed for deposits of 100K to 10 million baht, and the rate is apparently guaranteed until the end of April.

 

This compares well with Thanachart's own E-savings account (1.5% without, 1.8% with, Promptpay, up to 1million baht), LH Bank's 6-month fixed deposit 1.5% and CIMB Preferred's 6-month fixed deposit 1.5%.

 

Ultra pays out interest monthly and allows two penalty-free withdrawals per month.

[orientalist]

TISCO My Savings now offers 1.85% for deposits of 50-200K with monthly interest if you get their debit card.

https://www.tisco.co.th/en/personalbanking/mysavings.html

 

I got an sms from LH saying they had 1.68% for 3 months to celebrate Chinese New Year, although I don't see it on their website yet.

[denby45]

19 hours ago, orientalist said:

TISCO My Savings now offers 1.85% for deposits of 50-200K with monthly interest if you get their debit card.

https://www.tisco.co.th/en/personalbanking/mysavings.html

 

I got an sms from LH saying they had 1.68% for 3 months to celebrate Chinese New Year, although I don't see it on their website yet.

Need yellow book.

[orientalist]

I just found the link for the LH promotion (in Thai): https://www.lhbank.co.th/Campaign/Product/Register/25

 

Foreigners can sign up with their passport, but there are some other weird conditions (translation by Google):

 

"For new customers who do not have an account with a bank.
Open account with auspicious number 88,888 baht up to 888,888 baht."

 

I guess it really is a Chinese New Year special deal.

[davehowden]

TISCO, is that the bank with just one branch at Chang Phueak or do they have more branches ?

[BobTH]

7 minutes ago, davehowden said:

TISCO, is that the bank with just one branch at Chang Phueak or do they have more branches ?

No, TISCO has many branches in several Providences. 

 

[davehowden]

Yes sorry, i meant in Chiang Mai but did not say so !!

 

[simoh1490]

On 01/01/2018 at 12:50 PM, bttao said:

What's the interest Rate on Regular Savings  Deposits?

What's the penalty on deposit withdrawal for Fixed Deposits.

 

TIA 

 

The typical everyday savings account rate is now around 0.25%.

 

The penalty for withdrawal on Fixed Deposits is a loss of the agreed rate of interest which is then replaced by the everyday savings rate. The trick with fixed rate products is to split your funds across several accounts, in case you need to cash one, instead of 1 million in one account, open four at 250k each.

[fletchsmile]

On 2/8/2018 at 5:17 PM, simoh1490 said:

The typical everyday savings account rate is now around 0.25%.

 

The penalty for withdrawal on Fixed Deposits is a loss of the agreed rate of interest which is then replaced by the everyday savings rate. The trick with fixed rate products is to split your funds across several accounts, in case you need to cash one, instead of 1 million in one account, open four at 250k each.

Also consider staggering the maturities so they naturally mature at different intervals. Reduces the likelihood of needing to cash any of them in.

[meatboy]

us guys who trust our wife's saving dep.as follows.

THAI CREDIT UNION FIXED TERM 12 MONTHS,100,000 to 1,000,000 maximum interest paid up front 1.80%.NO TAX.

monthly savings plan over 2yrs.1,000 to 25,000 maximum interest 2.50% interest paid on maturity

[roobaa01]

what is the credit rating THAI CREDIT UNION ???

is a thai credit union account accepted by thai immigration ???

 

wbr

roobaa01

[meatboy]

22 hours ago, roobaa01 said:

what is the credit rating THAI CREDIT UNION ???

is a thai credit union account accepted by thai immigration ???

 

wbr

roobaa01

I don't think those 2 accounts are available for farangs.any way the one that pays interest up front is deffinly not.and the savings plan wouldn't be either.best go to LH BANK I have 3accs with them.2 fixed one of which has my retirement 800k in for 6yrs.

[roobaa01]

@meatboy  yes currently lhbank offers the best farang solution although a bit fuzzy when one wants to open an account. however, when keep pressing they give normally in passport plus certificate of residence.

 

wbr

roobaa01

[Mapguy]

The two immediate posts above shows how careful we have to be in describing kinds of accounts, especially when it comes to immigration requirements and which accounts are open to foreigners.  Not all are.  "Fuzzy" doesn't help.

 

So, regarding L&H, Meatguy, what document did you use to establish residence for the fixed accounts?  And, what, roobaa01, was your "certificate of residence?"  I asked because a L&H branch once required a tabien ban for me to open a fixed account.  Nothing less would do.  Perhaps it was that branch's procedure, but I doubted that at the time (about two years ago).

 

 

[roobaa01]

@mapguy   my certificate of residence confirming my address in pattaya, issued by jontiem immigration.

 

wbr

roobaa01

[Mapguy]

Thanks.  That's interesting.  Perhaps I have missed something  --- this is a Chiang Mai thread, not covering Pattaya and environs  --- but I haven't noted that it is acceptable to use the Immigration-issued certificate of residence here with L&H?  Can anyone shed any light on the situation with L&H in Chiang Mai?

[macahoom]

27 minutes ago, Mapguy said:

Thanks.  That's interesting.  Perhaps I have missed something  --- this is a Chiang Mai thread, not covering Pattaya and environs  --- but I haven't noted that it is acceptable to use the Immigration-issued certificate of residence here with L&H?  Can anyone shed any light on the situation with L&H in Chiang Mai?

 

This is a Chiang Mai thread?

[simoh1490]

2 minutes ago, macahoom said:

 

This is a Chiang Mai thread?

No, it's  Thailand thread started by poster Chiang Mai, me!