Sandman77 Posted July 26, 2012 Share Posted July 26, 2012 Hello! i read long time,here on the board about interest rates,but my acounts on scb and kasikorn, have only 0.75%! at moment only 40000 k bath inside,but i never got higher rates,why,when the interest rates set today again to 3% my banks give me only 0,75% what i must to to changes the acount type,on each bank,and how much does it coasts,does the have also higher interest rates,for daily availibility? everything not easy to follow,because each bank,have to many acont types and offers! thanks for information! Link to comment Share on other sites More sharing options...
JAS21 Posted July 26, 2012 Share Posted July 26, 2012 To get a better interest rate you need what is known as a Fixed Term Deposit. I think Bangkok Bank are offering 3.25% for five months deposit at present (that's 3.25%pa). But I think you need to deposit a little more than 40,000Baht though. Link to comment Share on other sites More sharing options...
CharlieH Posted July 27, 2012 Share Posted July 27, 2012 Higher amount and FIXED TERM to get a better rate. If you touch the money before the term expires you lose the interest. All the banks have these type of accounts and you need to look around for the best deal. Link to comment Share on other sites More sharing options...
CMSteve Posted July 27, 2012 Share Posted July 27, 2012 Goto Krungsri(yellow) Thanachart(Orange) or TMB(red white blue). All have "no--fix" saving accounts earning 2.9 - 3.0%. There is no need to lock the money up. 1 Link to comment Share on other sites More sharing options...
sms747 Posted July 27, 2012 Share Posted July 27, 2012 (edited) Opened an ordinary account at 3% withdraw anytime last week with tanachart-but they would not let mr foreigner do it on my own, even though I have existing savings and fixed term with them. Had to open it in joint name with the mrs, is this racist? Took over 2 hours to open the fixed term one- the usual no have work permit nonsense. Had to take in marriage cert and for a laugh took in wedding photos as well-they photocopied them as well. Branches do seems to have differing policies depending on how bright the manager is. Edited July 27, 2012 by sms747 Link to comment Share on other sites More sharing options...
thenervoussurgeon Posted July 27, 2012 Share Posted July 27, 2012 Goto Krungsri(yellow) Thanachart(Orange) or TMB(red white blue). All have "no--fix" saving accounts earning 2.9 - 3.0%. There is no need to lock the money up. YEO i use both these accounts Link to comment Share on other sites More sharing options...
thenervoussurgeon Posted July 27, 2012 Share Posted July 27, 2012 Opened an ordinary account at 3% withdraw anytime last week with tanachart-but they would not let mr foreigner do it on my own, even though I have existing savings and fixed term with them. Had to open it in joint name with the mrs, is this racist? Took over 2 hours to open the fixed term one- the usual no have work permit nonsense. Had to take in marriage cert and for a laugh took in wedding photos as well-they photocopied them as well. Branches do seems to have differing policies depending on how bright the manager is. Perhaps they dont like you ,i had no problem opening an account in my own name Link to comment Share on other sites More sharing options...
w11guy Posted July 27, 2012 Share Posted July 27, 2012 (edited) Goto Krungsri(yellow) Thanachart(Orange) or TMB(red white blue). All have "no--fix" saving accounts earning 2.9 - 3.0%. There is no need to lock the money up. This website shows much lower rates for these banks. Are these rates still available for easy access? http://www.bot.or.th/english/statistics/financialmarkets/interestrate/_layouts/application/interest_rate/IN_Rate.aspx Edited July 27, 2012 by w11guy Link to comment Share on other sites More sharing options...
CMSteve Posted July 27, 2012 Share Posted July 27, 2012 Yes, those are the standard savings account interest rates. Check out the websites for each and you'll see the no-fixed option. The only catch is you can only make 2 free withdrawals per month. If you go over 2, you have to pay a fee. Krungsri and Thanachart pay interest monthly, TMB pays every 6 months. Goto Krungsri(yellow) Thanachart(Orange) or TMB(red white blue). All have "no--fix" saving accounts earning 2.9 - 3.0%. There is no need to lock the money up. This website shows much lower rates for these banks. Are these rates still available for easy access? http://www.bot.or.th...te/IN_Rate.aspx Link to comment Share on other sites More sharing options...
CMSteve Posted July 27, 2012 Share Posted July 27, 2012 (edited) I've run into this before and usually you just have to go to another branch, someone will open the account for you. On the other side, this is actually a bit of a blessing. A account individually owned by a foreigner is taxed at 15%, where as the joint account leaves it up to you to claim taxes. If you had opened up your own account the max rate is closer to 2.5% and no its not racist, its the same for all non-citizens. Opened an ordinary account at 3% withdraw anytime last week with tanachart-but they would not let mr foreigner do it on my own, even though I have existing savings and fixed term with them. Had to open it in joint name with the mrs, is this racist? Took over 2 hours to open the fixed term one- the usual no have work permit nonsense. Had to take in marriage cert and for a laugh took in wedding photos as well-they photocopied them as well. Branches do seems to have differing policies depending on how bright the manager is. Edited July 27, 2012 by CMSteve Link to comment Share on other sites More sharing options...
yoshiwara Posted July 27, 2012 Share Posted July 27, 2012 3% on 40,000 baht is 1200 baht. And that's with no withdrawals. So hardly worth getting one's knickers in a twist over. Link to comment Share on other sites More sharing options...
CWMcMurray Posted July 27, 2012 Share Posted July 27, 2012 Just rolled over a CD at Kiatnakin Bank a few days ago .... 18 months @ 4% Link to comment Share on other sites More sharing options...
thongdee Posted July 27, 2012 Share Posted July 27, 2012 12 % in a year .... Link to comment Share on other sites More sharing options...
CWMcMurray Posted July 27, 2012 Share Posted July 27, 2012 Tongdee, where is that? Not inThailand, right? Link to comment Share on other sites More sharing options...
12DrinkMore Posted July 27, 2012 Share Posted July 27, 2012 is this racist? Nope. It's bullshit. Link to comment Share on other sites More sharing options...
12DrinkMore Posted July 27, 2012 Share Posted July 27, 2012 Hello! thanks,for the intesting information! i not want to open a 3. bank acount,when i already habe 2:) please can some one explain me the saving system on my banks scb and kasikorn! how much money i must put inside? to get 3 % 100000 bath or more? closed for a half year? give scb or kasikorn at the moment more interest rates? Check out the websites. It is all online. Link to comment Share on other sites More sharing options...
patekatek Posted July 28, 2012 Share Posted July 28, 2012 I had a CD at 3.5% with Bangkok Bank. Let it mature then withdrew half of the 400K baht I had in it. Nice interest rate but when I withdrew the money, the bank withheld government taxes on the interest. Sure takes a bite out of the net amount you expected to get from the CD. Link to comment Share on other sites More sharing options...
12DrinkMore Posted July 28, 2012 Share Posted July 28, 2012 I had a CD at 3.5% with Bangkok Bank. Let it mature then withdrew half of the 400K baht I had in it. Nice interest rate but when I withdrew the money, the bank withheld government taxes on the interest. Sure takes a bite out of the net amount you expected to get from the CD. You can claim back the tax. Link to comment Share on other sites More sharing options...
meand Posted July 28, 2012 Share Posted July 28, 2012 OP, follow CMsteve's advice, you can't beat 2.9% with almost full access. Link to comment Share on other sites More sharing options...
monty Posted July 29, 2012 Share Posted July 29, 2012 I had a CD at 3.5% with Bangkok Bank. Let it mature then withdrew half of the 400K baht I had in it. Nice interest rate but when I withdrew the money, the bank withheld government taxes on the interest. Sure takes a bite out of the net amount you expected to get from the CD. You can claim back the tax. You can get back the tax with a bit of paperwork. That is if you do not have any other income in Thailand! The first 150000 Baht income is taxfree for individuals and I assume your yearly interest payments are not that high. Even if they are, you only pay 10% tax on the income between 150,000 and 500,000 so the net tax on 500,000 Baht worth of interest would only be 7%...(actually even less as you are allowed deductions etc...) Sent from my GT-I9001 using Thaivisa Connect App Link to comment Share on other sites More sharing options...
naammanow Posted July 30, 2012 Share Posted July 30, 2012 Saw somthing about Krung Thai Bank giving 4% interest? It was on a banner outside the bank, not sure about the particulars though. Link to comment Share on other sites More sharing options...
CWMcMurray Posted July 30, 2012 Share Posted July 30, 2012 Likely for a step up account... You leave in funds for varying time frame and the interest starts low and then if you keep it in the whole period, then interest steps up every 3 months with the last 3 months receiving 4% APR Link to comment Share on other sites More sharing options...
w11guy Posted July 30, 2012 Share Posted July 30, 2012 Yes, those are the standard savings account interest rates. Check out the websites for each and you'll see the no-fixed option. The only catch is you can only make 2 free withdrawals per month. If you go over 2, you have to pay a fee. Krungsri and Thanachart pay interest monthly, TMB pays every 6 months. Goto Krungsri(yellow) Thanachart(Orange) or TMB(red white blue). All have "no--fix" saving accounts earning 2.9 - 3.0%. There is no need to lock the money up. This website shows much lower rates for these banks. Are these rates still available for easy access? http://www.bot.or.th...te/IN_Rate.aspx No good for me, as I make withdrawals 10+ times a month. And before anyone suggests it, no I don't want to take a lump sum out once a month. I'm not going to create hassle for the sake of a few baht. Link to comment Share on other sites More sharing options...
Sophon Posted July 30, 2012 Share Posted July 30, 2012 Likely for a step up account... You leave in funds for varying time frame and the interest starts low and then if you keep it in the whole period, then interest steps up every 3 months with the last 3 months receiving 4% APR No, it's a standard 22 month fixed deposit that pays 4% p.a., but the promotion ends tomorrow. Sophon Link to comment Share on other sites More sharing options...
OZEMADE Posted August 1, 2012 Share Posted August 1, 2012 I bank with the Queensland Country Credit Union (QCCU) I have cash in Table A, 3 to 5 months at 5% I also use the On Line Saver account (S9) and at present get 3.75% daily and can withdraw at any time. Take note of the (*) (**) when reading the interest rate guide at the bottom. I send cash over when the Baht goes up and make a further 10 to 20,000 Baht by watching the Bangkok Bank daily rate . http://www.qccu.com.au/savings-interest-rates Hope this is a help to some TV Members. Link to comment Share on other sites More sharing options...
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