Bank Savings Interest Rates

[Sheryl]

3 minutes ago, ravip said:

Any other better choice that would achieve the same results?

AFAIK not in Thailand without some risk to  the principal

[roobaa01]

lh bank special 1.88 % for 12 months.

 

wbr

roobaa01

[moontang]

CIMB March promos..5,12,24...1.75,1.85,2.40%...goood variety...

[panwaikah]

I opened a Mee Tae Dai account at the Central Mall in Pattaya with just my passport

[moontang]

3 minutes ago, panwaikah said:

I opened a Mee Tae Dai account at the Central Mall in Pattaya with just my passport

good for you....they wouldn't do it in HH for a friend with millions, and a house in his company's name, but only a TV.  That is one of the better all around accounts to have, and not having to file is worth a little.

[mogandave]

I opened a Mee Tae Dai account at the Central Mall in Pattaya with just my passport

Wow, I had to provide my passport and my money.

[Korat88]

Is the CIMB account with 2.5% interest the best available at present? Would appreciate any guidance from those up-to-date with such matters. In around a months time I will be receiving cash from a condo sale and so would like to know the best options for investing the capital and receiving some income. I know that options like buying a new condo and renting out or investing in the stock exchange may produce better returns but the former is too much of a headache and the latter I don't know enough about (re: Thai companies) and it is more risky. Could always buy some larger market capital high dividend payers but if there is a crash the capital will decline a lot no doubt!

[moontang]

the rates change monthly at CIMB, if at all....2.5 is gone at the moment, but can get 2.4...

[moogradod]

18 minutes ago, Korat88 said:

Is the CIMB account with 2.5% interest the best available at present? Would appreciate any guidance from those up-to-date with such matters. In around a months time I will be receiving cash from a condo sale and so would like to know the best options for investing the capital and receiving some income. I know that options like buying a new condo and renting out or investing in the stock exchange may produce better returns but the former is too much of a headache and the latter I don't know enough about (re: Thai companies) and it is more risky. Could always buy some larger market capital high dividend payers but if there is a crash the capital will decline a lot no doubt!

I am not really an expert in investment matters and I have basically the same question as you have. But I have investigated the landscape a bit. CIMB offers only the higher interest rates for amounts up to 1 Mio THB. Below that it is 2.0%. Furthermore I am not really sure about the performance of that bank. Having said that it is anyway advisable to diversify. As well in view of the upcoming change of the government guarantee which will drop to 1 Mio THB in August 2021. Here are other banks you might look at: Tanachart 18 months, 1.85%, ICBC 15 months, 1.5 - 2.5% (average 1.85%). There is as well the interesting option of their Gold Saving Account which provides liquidity with 1.5% interest. Then there is Krugsri with 1.85%. Better I could not find but I am eager to learn.

[moontang]

April CIMB...2.3,1.8,1.7% for 24,12,5 months....and the 2.3 is for first million only. But...you could put a million in next month on a new promo..I believe.

[denby45]

21 hours ago, moontang said:

April CIMB...2.3,1.8,1.7% for 24,12,5 months....and the 2.3 is for first million only. But...you could put a million in next month on a new promo..I believe.

I tried this at my local CIMB. They wanted a Tabien Baan which I don't have. Got the blue one and haven't got round to changing it yet. Yes I am a lazy barsteward.

 

Den

[moontang]

I was able to do it in BKK with a yellow book from a place i sold in CM....it was handy, but i just havent had a real need for it, but it was handy for a while..especially weith no WP....

[Korat88]

Thank you for your replies moontang and moogradod! It seems the 2.3% for 24 months with CIMB is the best currently available but when tax is then taken into account this drops down below 2%. Buying a condo and renting it out at somewhere around 5-6% would be a better option if the work (finding right one, paperwork, decorating, advertising, dealing with tenant issues) involved in doing such a thing is worth it. My wife isn't interested in the latter, so looks like a low income strategy (CIMB type account) will be the way to go despite the poor returns.

[moontang]

1 hour ago, Korat88 said:

Thank you for your replies moontang and moogradod! It seems the 2.3% for 24 months with CIMB is the best currently available but when tax is then taken into account this drops down below 2%. Buying a condo and renting it out at somewhere around 5-6% would be a better option if the work (finding right one, paperwork, decorating, advertising, dealing with tenant issues) involved in doing such a thing is worth it. My wife isn't interested in the latter, so looks like a low income strategy (CIMB type account) will be the way to go despite the poor returns.

It is fairly easy to get a full refund of withholdings.  You can get 4-8% on some very strong REITS..buying a condo to rent out, in LOS at current yields, is an excercise in foolery, and I am a happy condo owner, but it is my primary residence.  

[Korat88]

Thank you for pointing out the REITS moontang. Seems like a potential solution when the likes of QUALITY HOUSES LEASEHOLD PROPERTY FUND with a ~6.8% yield and BTS RAIL MASS TRANSIT GROWTH INFRASTRUCTURE FUND with a ~6.6% yield are available. I can see some additional research heading my way.

[moontang]

20 minutes ago, Korat88 said:

Thank you for pointing out the REITS moontang. Seems like a potential solution when the likes of QUALITY HOUSES LEASEHOLD PROPERTY FUND with a ~6.8% yield and BTS RAIL MASS TRANSIT GROWTH INFRASTRUCTURE FUND with a ~6.6% yield are available. I can see some additional research heading my way.

I own IGR, GNL,FREL..in the us, but also trade VNQ, IRT, NRE,MPW...just avoid retail REITs.  IGR pays five cents per month on a share price of 7.50.  so for 30,000 us, you get 200 per month, net before taxes.  you would need a 2 million TUB condo to do that here..and you would get slaughtered in land office fees and a lot of other stuff could go wrong, too.  and don't ever, ever calculate yields based on what the daily rate would be....

[limsankah]

Bank FD interest rate is very low

[JoePai]

On 4/4/2019 at 3:55 PM, denby45 said:

I tried this at my local CIMB. They wanted a Tabien Baan which I don't have. Got the blue one and haven't got round to changing it yet. Yes I am a lazy barsteward.

 

Den

Because I'm old I have the CIMB Seniors 12 month deposit at 1.75% tax free

[moontang]

1 hour ago, JoePai said:

Because I'm old I have the CIMB Seniors 12 month deposit at 1.75% tax free

what age, what ID?  THX.

[JoePai]

9 minutes ago, moontang said:

what age, what ID?  THX.

https://www.cimbthai.com/en/personal/products/accounts/fixed-deposit-account/senior-fixed-deposit.html

[Number 6]

BKK Bank, SCB or bog standard passbook account? 15% tax off the top, total mafia. Your opinions please. 1 year duration.

 

400k stashed fixed deposit for visa.

 

Thanks

[Vacuum]

14 minutes ago, Number 6 said:

BKK Bank, SCB or bog standard passbook account? 15% tax off the top, total mafia. Your opinions please. 1 year duration.

 

400k stashed fixed deposit for visa.

 

Thanks

You'll get the 15% tax back next year.

[roobaa01]

4 hours ago, Vacuum said:

You'll get the 15% tax back next year.

how could i get the 15 % back without thai tax id nr ???

 

wbr

roobaa01

[mogandave]

It’s not off the top.

[moontang]

1 hour ago, roobaa01 said:

how could i get the 15 % back without thai tax id nr ???

 

wbr

roobaa01

the revenue office will give you a tax id...but you will likely need a longstay visa....and maybe yellowbook.  Revenue offices tend to be much more approachable than Immigration.  You can do it at a main office, like the one very close to KSR..and they will forward it to your local office.  The deputy region director in CM is completely helpful..it is a classic case of simply telling the truth..

[DaRoadrunner]

Has anyone looked into the rates on Promissory Notes?

[mogandave]

Has anyone looked into the rates on Promissory Notes?

K-Bank buying at 5% max

[Number 6]

Thanks.

 

I have a tax ID. Is there a line item on tax form following year for refund? I've no tabien ban. Employed.

 

I've heard cimb has best rates, I'd visited the link, site for seniors. I'm 55+ should I go for this?

 

It says one time deposit, if I want to deposit 400k I'm certainly not bringing cash. How does the bank handle this? I'd think I make a minimum deposit, then transfer but it states one time. Thanks.

[EricTh]

4 minutes ago, Number 6 said:

Thanks.

 

I have a tax ID. Is there a line item on tax form following year for refund?

 

I've heard cimb has best rates, I'd visited the link, site for seniors. I'm 55+ should I go for this?

 

It says one time deposit, if I want to deposit 400k I'm certainly not bringing cash. How does the bank handle this? I'd think I make a minimum deposit, then transfer but it states one time. Thanks.

CIMB needs a guarantor who is a Thai citizen and  that person must go along with you to the bank.

 

[Number 6]

1 minute ago, EricTh said:

CIMB needs a guarantor who is a Thai citizen and  that person must go along with you to the bank.

 

Guarantor for what 555 I'm giving them money. They should be needing a guarantor lol.