LawrenceChee Posted July 24, 2012 Share Posted July 24, 2012 Gday Which banks offer the best fixed deposit rates and we can open using just our passport ? I stay in CM 4 mts in a year and reckon I should earn at least some bank Interest Many thanks for the help Link to comment Share on other sites More sharing options...
lannarebirth Posted July 24, 2012 Share Posted July 24, 2012 I saw a sign outside a Krung Thai bank yesterday offering 4% on a fixed deposit. I don't know the term, but I expect it is a year or more and probably back loaded for the higher interest. Link to comment Share on other sites More sharing options...
CMweb Posted July 24, 2012 Share Posted July 24, 2012 You can open an saving account with passport only in Siam and Kasikorn bank, don't know the rates Link to comment Share on other sites More sharing options...
ThailandInvestmentGuide Posted July 24, 2012 Share Posted July 24, 2012 Hi, you might find this page helpful: http://www.bot.or.th/english/statistics/financialmarkets/interestrate/_layouts/application/interest_rate/IN_Rate.aspx There was a recent long-running thread on the topic of 'best interest rates' in the banking & investment sub-forum ... scroll back through the last few pages of threads and you should be able to find it. Failing that do a forum search on using "interest rates" and see what pops up Link to comment Share on other sites More sharing options...
Tywais Posted July 24, 2012 Share Posted July 24, 2012 There was a recent long-running thread on the topic of 'best interest rates' in the banking & investment sub-forum ... I've been watching that one myself, has some pretty useful, up to date info. Link to comment Share on other sites More sharing options...
LawrenceChee Posted July 24, 2012 Author Share Posted July 24, 2012 Thanks for the great info mates ! Link to comment Share on other sites More sharing options...
Sophon Posted July 24, 2012 Share Posted July 24, 2012 I saw a sign outside a Krung Thai bank yesterday offering 4% on a fixed deposit. I don't know the term, but I expect it is a year or more and probably back loaded for the higher interest. It's on their website. It's a simple 22 months fixed deposit with monthly interest payments and not a "step up" account, but the offer expires at the end of this month. Sophon Link to comment Share on other sites More sharing options...
zziffle Posted July 24, 2012 Share Posted July 24, 2012 Bangkok Bank's offering 3.25% for a 5 month term, available for the next few days only (but there's probably another 'promotion' coming down the pike). 200k minimum, early withdrawal allowed but you lose the interest. BB seems pretty easy to deal with and I think the Kad Suan Kaew branch is a good location. I've never waited long there, there's a fair amount of English spoken, and they are used to dealing with farang riff-raff (present company excepted). I think you need more than a passport to open an account. I think you need a local address too, but I'm not sure. Link to comment Share on other sites More sharing options...
LawrenceChee Posted July 24, 2012 Author Share Posted July 24, 2012 Thanks everyone ...my 1st posting and I got some real great answers...love this city mate ! Link to comment Share on other sites More sharing options...
LawrenceChee Posted July 25, 2012 Author Share Posted July 25, 2012 Just got back Kasikorn Bank and opened an account here on tourist visa and passport ; need a local address and phone number. She does not seem to mind it is a hotel. ATM are is free ; add 400 baht for a debit card and Internet banking as a one time cost. Asked about fixed deposits and credit card options. She introduced the Wisdom program . For a minimum amount of 800k baht, you lock it in for 6 years or 1.2 million baht for 4 years. Guaranteed return of 4% at 96,000 interest per year and if you keep it till the 5th year you get 120,000 baht or 5%. The benefits include a credit card wisdom series which is at the highest level and include a priority pass ( free airport lounge benefit) which is great as I have this card from another bank and this is a USD$400 and has access at almost 400 lounges worldwide and a free annual medical checkup at the hospital at Bangkok hospital or Chiangmai RAM All in a good afternoon at Big C hang dong Link to comment Share on other sites More sharing options...
Semper Posted July 25, 2012 Share Posted July 25, 2012 1.2 million baht for 4 years. Guaranteed return of 4% at 96,000 interest per year How can you get 96K/year at 4% interest? Link to comment Share on other sites More sharing options...
uptheos Posted July 25, 2012 Share Posted July 25, 2012 1.2 million baht for 4 years. Guaranteed return of 4% at 96,000 interest per year How can you get 96K/year at 4% interest? I was just about to ask the same. Also the cc I presume is because the money is locked in and guarantee any cc debt? Link to comment Share on other sites More sharing options...
LawrenceChee Posted July 25, 2012 Author Share Posted July 25, 2012 Amount of 96k was guarantee for 1.2 million. Great way for those who need a cc and has no retirement visa yet or work permit Opening up the acct in a few weeks and will update all Link to comment Share on other sites More sharing options...
uptheos Posted July 25, 2012 Share Posted July 25, 2012 Amount of 96k was guarantee for 1.2 million. Great way for those who need a cc and has no retirement visa yet or work permit Opening up the acct in a few weeks and will update all That's 8%......can't be. Link to comment Share on other sites More sharing options...
mallmagician Posted July 25, 2012 Share Posted July 25, 2012 It's simply a step up account. X amount for x amount of.months, then x amount for the next x amount of months. Continues. Then a big x percent the last month or two. Don't trust the answers from the staff, read the blurb or get it translated. Link to comment Share on other sites More sharing options...
mallmagician Posted July 25, 2012 Share Posted July 25, 2012 And don't forget those percentages are pro rata... Link to comment Share on other sites More sharing options...
Semper Posted July 25, 2012 Share Posted July 25, 2012 Amount of 96k was guarantee for 1.2 million. Great way for those who need a cc and has no retirement visa yet or work permit Opening up the acct in a few weeks and will update all That's 8%......can't be. Agree, sounds too good to be true. 8%/ year is not possible. Link to comment Share on other sites More sharing options...
LawrenceChee Posted August 29, 2012 Author Share Posted August 29, 2012 Went back to Kasikorn bank and spoke to the branch manager who speaks excellent English at the airport plaza branch and got this clarification on the wisdom card program Annual Deposit 800k Pay for 6 years ; total 4.8 million Guaranteed annual interest of $63,500 and principal sum End of 15 years payout 6 million guaranteed plus insurance coverage of 150% principal sum So a fair deal for those with time and spare cash ; on addition the wisdom visa card will be issued to you - visa signature card highest level in Thailand - priority pass which allows lounge access in 600 locations worldwide ( I have this card from standard chartered and is a life saver) - free annual check up at Bangkok hospital / Chiang Mai ram / BNH - free lounge access to Thai silk lounge regardless of travel - fitness service - free use of business centre in shangrila Chiang Mai Link to comment Share on other sites More sharing options...
sitta Posted August 29, 2012 Share Posted August 29, 2012 Went back to Kasikorn bank and spoke to the branch manager who speaks excellent English at the airport plaza branch and got this clarification on the wisdom card program Annual Deposit 800k Pay for 6 years ; total 4.8 million Guaranteed annual interest of $63,500 and principal sum End of 15 years payout 6 million guaranteed plus insurance coverage of 150% principal sum So a fair deal for those with time and spare cash ; on addition the wisdom visa card will be issued to you - visa signature card highest level in Thailand - priority pass which allows lounge access in 600 locations worldwide ( I have this card from standard chartered and is a life saver) - free annual check up at Bangkok hospital / Chiang Mai ram / BNH - free lounge access to Thai silk lounge regardless of travel - fitness service - free use of business centre in shangrila Chiang Mai So you deposit 800k for next 6 years ONLY, but this money is locked in for 15 years!!! Link to comment Share on other sites More sharing options...
TommoPhysicist Posted August 29, 2012 Share Posted August 29, 2012 And don't forget Thai banks only guarantee 1 Million if they go broke. Not sounding such a good deal now, is it! Link to comment Share on other sites More sharing options...
LawrenceChee Posted August 29, 2012 Author Share Posted August 29, 2012 Yeap total 4.8million They pay out annually 63,500 as guaranteed interest for the 15 years the money is locked in ...great for expenses rebate or inflation buffer The wisdom card comes along with it Agree that the bank pay only 1 million with Kasikorn not likely the government will allow them to fall that easily all the farmers with votes have an account with them Link to comment Share on other sites More sharing options...
Tywais Posted August 29, 2012 Share Posted August 29, 2012 And don't forget Thai banks only guarantee 1 Million if they go broke. Not sounding such a good deal now, is it! Just a correction, though academic to the OPs 15 years (though it could be extended again in the future) is the deposit insurance is 50 million as it has been extended by 3 years due to the global financial situation. So 50/25 million insurance deposit guarantee until 2559. The cabinet decided on Tuesday to keep the deposit guarantee limit at 50 million baht ($1.57 million) per person per bank for three more years, putting off a plan to cut the amount to 1 million baht per customer per bank starting August 11. Stock news thailand Link to comment Share on other sites More sharing options...
mallmagician Posted August 29, 2012 Share Posted August 29, 2012 Over 15 years..... That profit whilst guaranteed is paltry. It's barely inflation. The so called advantages are mixed. Ok, the lounge access is nice. The signature card is what? Tied to the balance? So you spend your own money, no doubt with penalties for doing so within this account. It really doesn't seem all that great. Don't get me wrong, it seems ok, but hardly an offer you would fall over yourself for. Link to comment Share on other sites More sharing options...
TheFishman1 Posted August 30, 2012 Share Posted August 30, 2012 I use that bank,they explained all the fine print and I decided was not exactly right for me .If you figure ever thing out it really is not what Lawrence beleives he is getting,and so what a credit card Great LOL Link to comment Share on other sites More sharing options...
LawrenceChee Posted August 30, 2012 Author Share Posted August 30, 2012 Share the fine print and what you understand mate so that we understand bette I have not signed as yet and it is just for financial convenience for me to lock some money down in Thailand The credit card is not important to me as I already have most of those benefits on my visa infinite card. I'm 37 right now and 15 years lockdown is not as bad for me as it may be for some other forum members As I am looking to diversify and have gold stocks and mutual funds in various instruments worldwide, having a 6 million baht return that is guaranteed is attractive at 52 years old when it matures to start the actual retirement Sent from my iPod touch using ThaiVisa app ; please excuse any typo errors Link to comment Share on other sites More sharing options...
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