best use of 800k baht

[infinity11]

you know, the retirement deposit
how to get the most interest, best mileage?
thanks

[2yearvisitvisa]

Bangkok bank timed deposit.

[PaullyW]

There really is not a terrible amount you can do in this case. Also, depending upon which immigration official you ask, you may get different answers as to what kind of account you can park you money in while satisfying the requirement.

But as long as you're not losing to inflation, that's ideal, I think. Thai interest rates are not terribly high.

[jmccarty]

How long do you need to leave it in the bank?

[ABCer]

I once was thinking along the same lines.

The amount is not big enough to worry.

This is not 'money make money' case.

I just parked 1M in the bank for 3,25% and forgot about it.

If you can think about way of doubling your 800K within 9 months - tell me, please.

But peace of mind is also a good thing.

[farang000999]

Figure out how long you don't need it and buy a fixed term deposit for that time period. Consider all worst case scenario.

[mogandave]

If you can think about way of doubling your 800K within 9 months - tell me, please.

But peace of mind is also a good thing.

Fold it in half and put it in your pocket?

I have a savings account (not fixed) at Bank of Ayuttaya (sic) that pays 3 1/2%

[greg71]

You could leave it with me ,Pm me for my bank details .

[donm]

As I understand, the 800,000 in bank account needs to be in an account which you have immediate access to (i.e can withdraw funds at any time); you could pick up a problem with immigration (when re-applying in the future), if the funds are in a fixed or term deposit account and you do not have immediate access to the funds.

The income option is perhaps better, as it is acceptable that the income can be paid into a foreign account; as long as it is a regular (preferably monthly) income that you receive. (As I understand, you could have 50 million in stocks and bonds which you could utilize for income, as you require, but it would not be acceptable because it doesn't qualify as a regular income that you receive)! Therefore you would need a sum of money in an annuity from which which you draw/derive a regular income.

[offset]

As I understand, the 800,000 in bank account needs to be in an account which you have immediate access to (i.e can withdraw funds at any time); you could pick up a problem with immigration (when re-applying in the future), if the funds are in a fixed or term deposit account and you do not have immediate access to the funds.

The income option is perhaps better, as it is acceptable that the income can be paid into a foreign account; as long as it is a regular (preferably monthly) income that you receive. (As I understand, you could have 50 million in stocks and bonds which you could utilize for income, as you require, but it would not be acceptable because it doesn't qualify as a regular income that you receive)! Therefore you would need a sum of money in an annuity from which which you draw/derive a regular income.

I think all funds in fix accounts are open to immediate access you just lose your interest

I have no trouble on my renewal of my extension with a fix rate account but I always take my regular bank book with me incase they want to see how I live

[patongphil]

As I understand, the 800,000 in bank account needs to be in an account which you have immediate access to (i.e can withdraw funds at any time); you could pick up a problem with immigration (when re-applying in the future), if the funds are in a fixed or term deposit account and you do not have immediate access to the funds.

The income option is perhaps better, as it is acceptable that the income can be paid into a foreign account; as long as it is a regular (preferably monthly) income that you receive. (As I understand, you could have 50 million in stocks and bonds which you could utilize for income, as you require, but it would not be acceptable because it doesn't qualify as a regular income that you receive)! Therefore you would need a sum of money in an annuity from which which you draw/derive a regular income.

I think all funds in fix accounts are open to immediate access you just lose your interest

I have no trouble on my renewal of my extension with a fix rate account but I always take my regular bank book with me incase they want to see how I live

Excatly what I do too, and presume many others as well.

[mogandave]

The benefit of the Krungsri "Max Savings" account is that you get the higher interest, but can make deposits and a limited number of withdrawals (I think one or two a month) without penalty.

[infinity11]

Thanks all!

I have been using these three:

fixed deposit

fundbook (scb easy fund)

and savings

what are the risks in (thai) banking?

what are the risks in the easy fund?

what are the risks in the fixed deposit?

[infinity11]

The benefit of the Krungsri "Max Savings" account is that you get the higher interest, but can make deposits and a limited number of withdrawals (I think one or two a month) without penalty.

How much?

More than 3.1 or 3.2 %?

[mogandave]

I think it's about 3.5 but I'd have to check

[habfan]

The lady immigration officer who handled our marriage extension application told me to change to a fixed account because the interest was better.

[GreenSnapper]

The lady immigration officer who handled our marriage extension application told me to change to a fixed account because the interest was better.

At Bangkok immigration I was asked to take out 1000 Baht from my fixed account to prove that there would be 799K left. I had bank letter and bank book, the woman still wanted more.

I said "no can" and the supervisor finally gave in.

After that, I made sure I have an account where I can make some bookings, if the officer's emotion need it. You can never be sure here.....

[infinity11]

The 13 month fixed matured so i went back to SCB to renew and as far as i can tell i found three options.

-leave it alone and collect 2% after 6 months (however if i withdraw any, they only pay the savings rate of about .75%

-8 month fixed at 2.8

-4 month fixed at 2.5

There was another 13 month option, but they told me it was FULL and to wait until sept 1 for possibly new options??? <deleted>!