Bank Savings Interest Rates

[moontang]

26 minutes ago, roobaa01 said:

a strong yes for the section on www.lhbank.co.th is called deposit promotion and not deposit rates. thereto it is not a insurance product. lh bank credit rating is solid.

 

wbr

roobaa01

since you didn't post the link, I will..https://www.lhbank.co.th/Promotion/Detail/Deposit_Promotions-บัญชีเงินฝากประจำพิเศษ_6__12_และ_24_เดือน/2/54

 

6, 12, 24 pays 1.65%, 1.75%, 1.85%......

 

the 25 month is a step up...and you do get 2.5%..for one entire month...APY is 2.14%..https://www.lhbank.co.th/Promotion/Detail/Deposit_Promotions-บัญชีเงินฝากประจำพิเศษ_25_เดือน/2/56

 

all but the six month require 500,000 minimum...

 

Next...

[roobaa01]

10 minutes ago, moontang said:

since you didn't post the link, I will..https://www.lhbank.co.th/Promotion/Detail/Deposit_Promotions-บัญชีเงินฝากประจำพิเศษ_6__12_และ_24_เดือน/2/54

 

6, 12, 24 pays 1.65%, 1.75%, 1.85%......

 

the 25 month is a step up...and you do get 2.5%..for one entire month...APY is 2.14%..https://www.lhbank.co.th/Promotion/Detail/Deposit_Promotions-บัญชีเงินฝากประจำพิเศษ_25_เดือน/2/56

 

all but the six month require 500,000 minimum...

 

Next...

the 2.5 step requires just thb 100 k not 500 k

 

wbr

roobaa01

[moontang]

4 minutes ago, roobaa01 said:

the 2.5 step requires just thb 100 k not 500 k

 

wbr

roobaa01

and the reason you posted take information about the rates was?

[simoh1490]

L&H can be difficult for farangs to open accounts in different parts of the country, for the longest time in Chiang Mai they wouldn't open an account for a foreigner without a work permit and this stretches back ten years or more. That said, their rates are often much better than other banks so they're definitely worth a look.

[topt]

2 minutes ago, simoh1490 said:

L&H can be difficult for farangs to open accounts in different parts of the country,

Was no problem in Pattaya last few years when they were in BIG C Extra. The branch however has now moved to the new Terminal 21 and not been in yet to see if same staff.

[MadMac]

Latest from Islamic Bank

 

11 months - 1.70%

15 months - 1.80%

 

I would not go longer, Fiat should collapse soon, or so they say. 

[BobTH]

On 11/6/2018 at 11:15 AM, roobaa01 said:

the 2.5 step requires just thb 100 k not 500 k

 

wbr

roobaa01

My fixed account came due today at the LH Bank. I use the main office branch at the Q House in Lumpini on Rama 4 Road. I use these accounts for my retirement extension of stay and have at LH Bank for the last three years only because they have had the best paying rates for the most part. I really only wanted a one year term so that narrowed it down to the advertised promotion of 1.75% on a one year fixed. Well what I found out is the 6 month and 1 year and two years promotions do not work the same. The one year account your interest has to go into a regular saving account there which I do not have. I have savings accounts at three other banks already, I then asked if it is easy to open one and because I do not have a work permit or that I do not have my name on a house book, I was told that I could not open a saving account. I could though go with the 6 month 1.65% fixed rate which does not require the monthly interest going into a regular saving account. I opted to do this and plan to renew this account in May 2019 which will carry me over the three months needed to show Immigration for my next extension renewal in October 2019. Damn this is all getting to be a headache. Sorry for being so long winded and I hope I was clear. I didn't even ask about the 24 month promotion as I did not want that long of a due to maturity date.

[roobaa01]

24 minutes ago, BobTH said:

My fixed account came due today at the LH Bank. I use the main office branch at the Q House in Lumpini on Rama 4 Road. I use these accounts for my retirement extension of stay and have at LH Bank for the last three years only because they have had the best paying rates for the most part. I really only wanted a one year term so that narrowed it down to the advertised promotion of 1.75% on a one year fixed. Well what I found out is the 6 month and 1 year and two years promotions do not work the same. The one year account your interest has to go into a regular saving account there which I do not have. I have savings accounts at three other banks already, I then asked if it is easy to open one and because I do not have a work permit or that I do not have my name on a house book, I was told that I could not open a saving account. I could though go with the 6 month 1.65% fixed rate which does not require the monthly interest going into a regular saving account. I opted to do this and plan to renew this account in May 2019 which will carry me over the three months needed to show Immigration for my next extension renewal in October 2019. Damn this is all getting to be a headache. Sorry for being so long winded and I hope I was clear. I didn't even ask about the 24 month promotion as I did not want that long of a due to maturity date.

lh bank opens savings accts when u present 1. passport with your longterm of stay 2. certificate of residence obtainded from yr immi office 3. proof of address, 

 

wbr

roobaa01

[BobTH]

54 minutes ago, roobaa01 said:

lh bank opens savings accts when u present 1. passport with your longterm of stay 2. certificate of residence obtainded from yr immi office 3. proof of address, 

 

wbr

roobaa01

I was talking to the clerk and also to the bank manager. I have a retirement extension (7 years) of stay on an O-A long term visa. I had my rental contract with me and showed that to them also. I was told work permit, or house book. Certificate of residence was not an option. Also the manager told me to hold on and went and talked to a bank officer and came back. Again, I was at their main office branch Q House on Rama 4 Road. I have had fixed accounts with them for 3 years prior and this one was going into the 4th year. The manager did tell me this was a new policy with foreigner accounts. When I opened the fixed account three years ago I showed only my passport, long stay extension and rental contract.

[roobaa01]

7 minutes ago, BobTH said:

I was talking to the clerk and also to the bank manager. I have a retirement extension (7 years) of stay on an O-A long term visa. I had my rental contract with me and showed that to them also. I was told work permit, or house book. Certificate of residence was not an option. Also the manager told me to hold on and went and talked to a bank officer and came back. Again, I was at their main office branch Q House on Rama 4 Road. I have had fixed accounts with them for 3 years prior and this one was going into the 4th year. The manager did tell me this was a new policy with foreigner accounts. When I opened the fixed account three years ago I showed only my passport, long stay extension and rental contract.

the certificate of residence is issued for the purpose to open a bank acc, which i opened in pattaya. thereto, ask for the special savings acc. which is tax free min. balance thb 5k.

 

wbr

peter1

[BobTH]

14 minutes ago, roobaa01 said:

the certificate of residence is issued for the purpose to open a bank acc, which i opened in pattaya. thereto, ask for the special savings acc. which is tax free min. balance thb 5k.

 

wbr

peter1

I am fully aware what a certificate of residence is, I have probably gotten 10 of them but never needed one for opening a savings account and I have now three regular savings accounts at three different banks in Bangkok. And also have one fixed account which I got today at 1.65% interest for 6 months. I guess we all know that different areas and branches have maybe slightly different interpretations of the rules but I was at the LH banks main head office.

[moontang]

 

My fixed account came due today at the LH Bank. I use the main office branch at the Q House in Lumpini on Rama 4 Road. I use these accounts for my retirement extension of stay and have at LH Bank for the last three years only because they have had the best paying rates for the most part. I really only wanted a one year term so that narrowed it down to the advertised promotion of 1.75% on a one year fixed. Well what I found out is the 6 month and 1 year and two years promotions do not work the same. The one year account your interest has to go into a regular saving account there which I do not have. I have savings accounts at three other banks already, I then asked if it is easy to open one and because I do not have a work permit or that I do not have my name on a house book, I was told that I could not open a saving account. I could though go with the 6 month 1.65% fixed rate which does not require the monthly interest going into a regular saving account. I opted to do this and plan to renew this account in May 2019 which will carry me over the three months needed to show Immigration for my next extension renewal in October 2019. Damn this is all getting to be a headache. Sorry for being so long winded and I hope I was clear. I didn't even ask about the 24 month promotion as I did not want that long of a due to maturity date.

Good move,  as rates may be heading up.  2 year are worth a look.  50% higher rate, but will likely still be around in May.

[petermik]

On 12/3/2018 at 8:28 AM, BobTH said:

I am fully aware what a certificate of residence is, I have probably gotten 10 of them but never needed one for opening a savings account and I have now three regular savings accounts at three different banks in Bangkok. And also have one fixed account which I got today at 1.65% interest for 6 months. I guess we all know that different areas and branches have maybe slightly different interpretations of the rules but I was at the LH banks main head office.

I was in the LH Bank in Terminal 21 Pattaya yesterday asking about opening a savings account and was told a Residents Certificate from Immigration was needed.....

[KittenKong]

19 hours ago, petermik said:

I was in the LH Bank in Terminal 21 Pattaya yesterday asking about opening a savings account and was told a Residents Certificate from Immigration was needed.....

Most banks do tend to ask for them these days, unless they already know you.

[pattayapip]

UOB are giving 1.65% for savings over 5,000,000 but this interest payment is subject to direct taxation when paid monthly

What other options that are "safe" for investing say 10,000,000 Baht in Thailand ?

[mogandave]

I have all my money in houses and lots...

 

Whorehouses and lots of booze!

[moontang]

2 hours ago, pattayapip said:

UOB are giving 1.65% for savings over 5,000,000 but this interest payment is subject to direct taxation when paid monthly

What other options that are "safe" for investing say 10,000,000 Baht in Thailand ?

There are some pretty safe yielders on the SET....you can open with kim-eng or just trade at many banks.  Yellow Bank says 18 month at 1.85%....cimb say 2.5% for a two year,....

[davehowden]

Base rate increased to 1.75%.

 

https://www.bot.or.th/Thai/MonetaryPolicy/Documents/PressMPC_82018_29PWC51.pdf

[moontang]

I put half in a five month at 1.65% and will put the other half in two year in a couple of weeks, hopefully at 2.5+.  My stamp is mid January, and don't want them maturing during my thirty day window for annual extensions.  I like how the monthly interest is recorded in the fixed book, every month, and show tax withheld, too.  

[davehowden]

Any clues as to when  deposit rates will be increased?

[moontang]

42 minutes ago, davehowden said:

Any clues as to when  deposit rates will be increased?

The banks tend to set their rates on a monthly basis, but can come out with a promo at any time.  Most of this week's Central Bank increase was already priced in.  I think BAY is overdue to increase MTD account rates..1.3% with 100k minimum kind of blows.  There may be nothing better than the 2.5% 24 month, that has been available since November.  I would do some 12 month, but not for less than 1.85%.

[mogandave]

I put half in a five month at 1.65% and will put the other half in two year in a couple of weeks, hopefully at 2.5+.  My stamp is mid January, and don't want them maturing during my thirty day window for annual extensions.  I like how the monthly interest is recorded in the fixed book, every month, and show tax withheld, too.  

Where are you getting 2.5 ?

[moontang]

1 minute ago, mogandave said:

 

Where are you getting 2.5 ?

 

CIMB.  

[Virtualrecluse]

On 12/12/2018 at 5:49 PM, moontang said:

There are some pretty safe yielders on the SET....you can open with kim-eng or just trade at many banks.  Yellow Bank says 18 month at 1.85%....cimb say 2.5% for a two year,....

What is kim-eng please? And can you offer any more advice about investing via banks?

[ravip]

14 hours ago, Virtualrecluse said:

What is kim-eng please? And can you offer any more advice about investing via banks?

Could be this >>> https://www.maybank-ke.co.th/en/

[Oxx]

On 12/22/2018 at 5:54 PM, Virtualrecluse said:

What is kim-eng please? And can you offer any more advice about investing via banks?

 

You can not trade via banks.  You can only trade via a brokerage.  However, many banks have brokerage subsidiaries.  For example, Krung Sri has Krungsri Securities, Bangkok Bank has Bualuang Securities.  Maybank Kim Eng is a subsidiary of a Malaysian bank.  AFAIK, you can only open a brokerage account by approaching the subsidiary directly - not via a bank branch.  (At least, that's been my experience.)

 

For most people, however, they are better off buying mutual funds since they don't have the expertise to analyse companies and determine which ones are good value.  This is particularly the case where the documentation and news is largely in Thai.  Mutual funds accounts can easily be opened at bank branches, though you may be tied only to the funds offered by that bank.  For example, open an account with TMB Asset Management and a branch of TMB, and you'll only have access to TMB Asset Management's funds listed at https://www.tmbam.com/home/en/mutual-fund.php

 

I specifically mention TMBAM since their property fund, TMBPIPF, provides a decent level of income currently yielding 4.53% and having a 3 year annualised return of 10.50% (source:  Morningstar Thailand).  Of course, you'd need to understand the risks.  In particular, unlike bank accounts, your capital isn't guaranteed, and if stockmarkets plunge you might end up with less money than you started with.

[moontang]

New promo for January...18 month fixed deposit..1.95%..

 

CIMB Thailand.

[moontang]

She actually gave me 2.0% as a preferred customer....didn't even ask for it...and two calendars.

[orientalist]

This month CIMB has 2.40% (2.50% for Preferred) for 24 months.

 

https://www.cimbthai.com/en/personal/news-and-promotions/promotions/promotion/promo-021111.html

[moogradod]

12 hours ago, orientalist said:

This month CIMB has 2.40% (2.50% for Preferred) for 24 months.

 

https://www.cimbthai.com/en/personal/news-and-promotions/promotions/promotion/promo-021111.html

This sounds interesting.

 

What is the credit rating of CIMB ? May this fixed term account then be regarded as a more or less risk free investment ? If yes, my wife (Thai passport) would like to use this offer for some substantial deposit.

 

What is the second best at the moment ? Yesterday we have been at LH bank and Kaisikorn - both not offering anything interesting. Even Bangkok Bank with its 1.625 % promotion for 9 months is better.