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Any good interest rates for like 10 months?

expatsupreme
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Jip99 Platinum Member

Jip99

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Deposit Rates for Individuals of Commercial Banks as of 20 February 2014 Bank Saving Fixed 3 mths 6 mths 12 mths 24 mths Commercial Banks registered in Thailand Bangkokarrow-10x10.png Bank 0.6250 1.5000-1.7500 1.8750-2.0000 2.2500 2.3750 Krung Thai Bank 0.6250 1.5000-1.7500 1.8750-2.1000 2.2500 2.3750 Kasikornbank 0.6300 1.3000-1.6500 1.6500-1.8500 2.1000 2.2500 The Siam Commercial Bank 0.6250 1.3000-1.6500 1.7000-1.8500 2.1000-2.1500 2.3000 Bank of Ayudhya 0.5000 1.4500-1.7000 1.7500-1.9500 2.1500 2.3500 TMB Bank 0.1250-1.7500 1.5000-2.5000 1.7500 2.0000-3.0000 2.2500-2.7500 United Overseas Bank (Thai) Company Ltd. 0.5500 1.5500-1.7000 1.8000-2.0000 2.1500-2.3000 2.3500-2.5000 CIMB THAI Bank 0.5000 1.8750 2.2750 2.4000 2.7500 Standard Chartered Bank (Thai) 0.6500-2.5000 1.7500-2.0000 2.0000-2.2500 2.2500-2.5000 2.5000-2.7500 Thanachart Bank 0.6250-1.2750 1.6250-1.8500 1.8750-2.1000 2.2500-2.3500 2.4500 TISCO Bank 0.9000-2.1500 2.7500-2.8500 2.8000-2.8500 2.7500-3.0000 3.0000-3.1250 Mega International Commercial Bank 0.6250 1.6000-1.9000 1.8500-2.1000 2.2500-2.3500 - Kiatnakin Bank 0.7500 2.4000-2.7500 2.5000-2.8500 2.7000-2.9000 2.7500-3.0000 Land and Houses Bank 0.8750-2.7000 2.7500-2.8500 2.9000-3.0000 2.9000-3.1000 3.1000 Industrial and Commercial Bank of China (Thai) 0.8750-2.7000 2.6500 2.8500 2.8750 3.0000 The Thai Credit Retail Bank 0.8500 2.7500 2.8500 3.0000 3.0000

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HerbalEd Platinum Member

HerbalEd

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The experience over the last 12 months is that the loss in the exchange rate has trumped the exchange rate return.

yes exactly, so you lost money if you kept it in THB

It's a moot point if you spend the baht in Thailand.

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HerbalEd Platinum Member

HerbalEd

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expatsupreme (and others)

if you were a Banker in Argentina, you live elsewhere now

if you were a Banker in Iceland, you are in jail

if you are a Banker in Cyprus, you should be in jail

earning 10% interest is fair and reasonable (banks make far more than that)

anything around 3% effectively means you are going backwards ... a sure bet on a horse that you think can keep pace with inflation, deflation, exchange rates, buying power and many other market place games still being played

I don't gamble (not even on the Melbourne Cup) ... 10% reflects an equitable return for both parties

Yeah "sounds" great. Soooo ... where can you do that with confidence of not being screwed? Please tell all.

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davejones23 Advanced Member

davejones23

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10% per annum (in Australia)

Hard to believe ... but hopefully I'm wrong. Is 10% readily available at trustworthy banks for one year or less?

No, of course it's not available. Australian economy would have collapsed if you could get 10% on your savings. That would imply a mortgage rate of around 15%.

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HerbalEd Platinum Member

HerbalEd

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10% per annum (in Australia)

Hard to believe ... but hopefully I'm wrong. Is 10% readily available at trustworthy banks for one year or less?

No, of course it's not available. Australian economy would have collapsed if you could get 10% on your savings. That would imply a mortgage rate of around 15%.

Yeah, I know. I've just been trying to get Boon to fess up. So far two requests to him for details have failed to get a response. Perhaps he no longer has any interest ... at least not 10% interest.

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Mudcrab Platinum Member

Mudcrab

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davejones23 ... interest rates of 10% collapse the Australian economy?

people have paid 17% and done well ..

it is amazing how many experts there are a TV ...

on some secured loans you can pay/earn 3% Per Month ...

I'm only prepared to pay 10% per annum ..

and amazing how many scammers come out of the woodwork when a few baht is flashed around.

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davejones23 Advanced Member

davejones23

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davejones23 ... interest rates of 10% collapse the Australian economy?

people have paid 17% and done well ..

it is amazing how many experts there are a TV ...

on some secured loans you can pay/earn 3% Per Month ...

I'm only prepared to pay 10% per annum ..

Those are specific loans, not general rates from a large bank. Any economy would collapse of the majority of people paid 15% interest on their mortgages. If one bank paid 10% on savings and others paid 3% for example, then the bank paying 10% wouldn't have any mortgage business at all.

Also, earning interest on a secured loan is not the same as having money in the savings account. They are completely different things. While you may get 3% a month back in a very few cases, you'd have lots of costs as well. And the hassle of getting your money back if you didn't get paid. Yes, it can be a great business, but it's not what the OP is looking for. The OP was asking about savings rates in Thailand, not offering secured loans in Australia.

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Daniel Boon Advanced Member

Daniel Boon

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daveyjones23 .. what are you talking about .. can you articulate it better?

how much interest do you think a bank makes on (say) $100,000 in a year (at (say 6% on home loan; 15% on personal loan and 23% on bankcard facility) ... but to make it easy ... just on 6% ...

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Mudcrab Platinum Member

Mudcrab

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'Mudcrab' are you for real?

Scammers ... what do you think banks do (you Wally) ... if someone was handing out $50 notes, you probably turn tail and walk the other way ...

I'm for real mate. Come clean and tell us how you are going to pay 10%.

Put up...or shut up.

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HerbalEd Platinum Member

HerbalEd

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'HerbalEd' you're full of it ... fess up .. ? <deleted>

where are your two requests (I got one from some bloke from "central America')

No offense meant, DB. I was just having a bit of fun with the "fess up" bit. Although I am serious about my questions in the below posts.

Post 35: Hard to believe ... but hopefully I'm wrong. Is 10% readily available at trustworthy banks for one year or less?

Post 37: Yeah "sounds" great. Soooo ... where can you do that with confidence of not being screwed? Please tell all.

And I'm not talking about private one-on-one loans here. Those rates can be from 30-50% or more. You said 10% in Australia so I assume you meant from a bank or the like. So, can you provide specifics to where that 10% rate can be had? If so, I'd put a lot of money into several of them right away.
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HerbalEd Platinum Member

HerbalEd

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Posted (edited)

But that's irrelevant for someone who lives here and has their money in baht.

I am reminded of Harold Wilson's statement that the (devalued) pound in people's pocket is still exactly the same.

Not necessarily so if your buying goods outside of England. Also, if the pound ... or any currency ... devalues too far for too long, inflation sets in and the pound buys a lot less English goods than it did before.

Edited by HerbalEd
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sirchai Ruby Member

sirchai

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lending money to others is the stupidest things to do, usually they never pay back because they gamble it away,

That is not true at all. Money lending is one of the best businesses around. Why do you think banks are so rich.

And they usually make sure that they get their money back. Each Penny. I remember a long time ago, when the German Bank in Frankfurt/ Main had lost about 700 million at this time still German Mark, as the currency to a guy who'd just ripped them off, had no chance to get the cash back, but then defined that huge amount as a loss of peanuts. Wondering why.-.wai2.gif

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bander Gold Member

bander

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10% in KBZ Bank, Myanmar if you trust the banks there :-)

Fixed Deposit Account(KYAT)

Fixed Deposit Accounts are for eligible individuals and organizations looking for a higher yield on their cash returns. A passbook is issued to the account holder(s).

Terms Interest Rate 1 month 8% 3 months 8.5% 6 months 9% 9 months 9.5% 12 months 10%
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bander Gold Member

bander

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<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

I shop around every couple of months to see what's new. I put 50k in the pink bank (Gov) for the last few months when the $ was favorable to the baht. Still is but falling. I'm getting 3.25% for a 9 month deposit. There is a thread on here somewhere that features the best rates.

I have to have my wife put it her account. Hard to find a bank that will let a farang (especially an American because of the reporting requirements,) open a savings account.

Better to keep money in a safe than put it in a bank account to any Thai, wife or not !

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bander Gold Member

bander

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<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

lending money to others is the stupidest things to do, usually they never pay back because they gamble it away,

That is not true at all. Money lending is one of the best businesses around. Why do you think banks are so rich.

Best way to get rid of a good friend in Thailand is to lend him money, you never get it back and he will avoid you in the future coffee1.gif

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Naam Star Member

Naam

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lending money to others is the stupidest things to do, usually they never pay back because they gamble it away,

That is not true at all. Money lending is one of the best businesses around. Why do you think banks are so rich.

And they usually make sure that they get their money back. Each Penny. I remember a long time ago, when the German Bank in Frankfurt/ Main had lost about 700 million at this time still German Mark, as the currency to a guy who'd just ripped them off, had no chance to get the cash back, but then defined that huge amount as a loss of peanuts. Wondering why.-.wai2.gif

you are referring to the former CEO of Deutsche Bank Hilmar Kopper (who was later called "Peanuts Banker") and the loan default of "Schneider". the amount was 50 million Deutsche Mark and from his perspective it was indeed peanuts.

by the way, Deutsche Bank was recently fined €UR 725 million (1 billion US-Dollars), more fines to come, because of LIBOR manipulations. but when you look at DB's balance sheet even this amount is "peanuts".

"slightly" higher is the fine JPM has to pay to the SEC... USD 13 billion w00t.gif

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