Best interest rates on fixed deposit account

[Beng]

Here in Chiang Mai, anybody can advise please.

[Rotweiler]

6 months tax free - 3.00%

12 months tax free - 3.25%

A lot of banks will offer higher rates but ask them if it is TAX-FREE of not. Big difference.

[alfieconn]

6 months tax free - 3.00%

12 months tax free - 3.25%

A lot of banks will offer higher rates but ask them if it is TAX-FREE of not. Big difference.

Apparently you can claim the tax back, depending on how much I suppose !

Might be more helpful to the OP if you divulge which bank it is offering these rates.

Edited June 2, 2014 by alfieconn

[worgeordie]

Land and House Bank are giving 2.70 % and its not a fixed account,tax free.

regards worgeordie

[kaptainrob]

L&H 2.7% is on daily balance. Good a/c if you have work permit or yellow book. Can withdraw and/or deposit so long as you maintain a minimum balance.

SCB have a managed funds 100 day a/c tax free, was 2.9%, maybe a bit less this month.

[MESmith]

Any good fixed rates accounts for keeping 800,000 for retirement extension that immigration accept? I'm with k-bank.

[Beng]

6 months tax free - 3.00%

12 months tax free - 3.25%

A lot of banks will offer higher rates but ask them if it is TAX-FREE of not. Big difference.

Apparently you can claim the tax back, depending on how much I suppose !

Might be more helpful to the OP if you divulge which bank it is offering these rates.

Agreed. Name of bank please.

[Beng]

L&H 2.7% is on daily balance. Good a/c if you have work permit or yellow book. Can withdraw and/or deposit so long as you maintain a minimum balance.

SCB have a managed funds 100 day a/c tax free, was 2.9%, maybe a bit less this month.

Where is this L&H bank ?? Please.

[Beng]

Any good fixed rates accounts for keeping 800,000 for retirement extension that immigration accept? I'm with k-bank.

Am with K Bank since 1995. My two fixed deposit accounts (2.3% minus tax) are due in 1 and 3 months

next term is only 1.7%. So I'm looking for options

[Choonpon]

6 months tax free - 3.00%

12 months tax free - 3.25%

A lot of banks will offer higher rates but ask them if it is TAX-FREE of not. Big difference.

Which bank may I know? Thank you:)

[sappersrest]

Re Land and Houses Bank

There is a branch at Tesco Meechok next to Bangkok bank,I was told I must have a yellow book or work permit to open an a/c.

[Vacuum]

Land and House Bank, never heard of this one. What's it called in Thai?

[Sparkles]

It simply called Land and House Bank on all its signage and literature.Its a relatively new bank ,I think opened about 6-7 years ago in Bangkok.

My wife has a savings account with them at the Big C Complex Hang Dong Just north of Tesco on the Hang Dong Rd. We find them very easy to deal with as they are not exactly over run with customers, have the same guarantees as other banks in case of a major financial disaster.

I think ,but not sure , that to open an account ,if you are a foreigner, you need a work permit but I could have been mistaken.

I have been with Bangkok Bank for 12 years and I don't like jumping around from bank to bank.My 800,000 b is earning a miserable 2.75% less tax (13 mths fixed) which I hope to get back.

[mania]

Started with Ayudhya Mee Tae Dai account more than a year..or two? ago at 2.8%

Down now to 2.35% but I am still with them for ease.

Here is why

1- It is not a fixed account

2- web access/transfers etc.

May make two transactions per month free

3- More than two is 50 baht per

( I dont use these as working accounts so no problem for me )

4- Interest paid monthly not bi-annually like most

5- No taxes taken out period

Note: Taxes are automatic on fixed accounts & yes you may reclaim them &

I have on other accounts at BKB previously. But Ayudyha not being fixed does not have a tax

But realize any account in Thailand fixed or not that receives more than 20k baht per year will be taxed

But with Ayudyha if you approach the 20k per year interest allowed tax free in not-fixed account

they let you open another Mee Tae Dai account & transfer. They have even reminded me at times to do so.

Hard to beat for me & I like that monthly interest I see put in my accounts each month.

Of course if at such time it gets much lower than others....Then I might put up

with a fixed account & its taxes/reclaiming etc.

Lastly there is a good ongoing thread in the banking section about

interest rates in Thailand.....Which are the same for the whole country

anyway so not Chiangmai specific

Bank Savings Interest Rates

Edited June 2, 2014 by mania

[Thighlander]

I saw the good rates at LH Bank, also....they seemed to have a similar set of rules that TMB has.....Rates are great; don't know how that would work for your letter about the 800K. I've been laddering 4 month TDs with BKK Bank; now at 2%. I have confidence in them when the time comes to produce the letter....liked it a lot more in January at 2.6250 for the same term. There is currently an inversion of the yield curve, where if you go for a year or two you will likely get less than the 4 month rate, which is also higher than their 3 and 6 months rates. It automatically renews at the 3 month rate. but I plan on being there on the day of maturity to reinvest at the 4 month promo rate.

I told them I wanted it to automatically renew to the 4 month rate, but they acted like they didn't understand what I was saying.

Edited June 2, 2014 by Thighlander

[Torrens54]

Land and House Bank, never heard of this one. What's it called in Thai?

Almost certain I've seen a branch at Big C Hangdong off to the Left from SCB.

My wife tells me that a certain Fugitive former PM has a "finger in that particular pie, L&H."..... No problem, just letting you know what I've been told.

Edited June 2, 2014 by Torrens54

[chiangmaiman99]

I got 3.2% on a 1 year fixed deposit account at CIMB Thai Bank at the beginning of the year. I believe at that time they were offering 3.5% for new accounts. I don't know if they are still offering any promotions now. The interest is taxed however, if you're eligible you can get this money back.

[elgordo38]

Talking about the present day June 2 2014 what is the best rate and where. BKK bank is around 2% and as a previous poster stated you can depend on them for your immigration letter which is important.

[cmsally]

I got 2.25% at SCB (7 month acct)

Looking on the net Krungthai supposedly has good rates, but haven't checked the details/small print

[Tywais]

This is the current bank fixed account rates from bot that you can make your comparisons - Deposit rates for individuals

Rates have dropped quite a bit in the last few months. for SCB deposit rates.pdf

[Thighlander]

I noticed SCB 3 month rate is "1.10000-2.35000." <deleted>?

[Mapguy]

This is basically simple to research:

http://www.bot.or.th/english/statistics/financialmarkets/interestrate/_layouts/application/interest_rate/IN_Rate.aspx

More than likely, rates will remain quite low for some time due to a need to goose the general economy.

Edited June 3, 2014 by Mapguy

[northernjohn]

L&H 2.7% is on daily balance. Good a/c if you have work permit or yellow book. Can withdraw and/or deposit so long as you maintain a minimum balance.

SCB have a managed funds 100 day a/c tax free, was 2.9%, maybe a bit less this month.

Yes I got mine at SCB for 3.2% but it was for one year. Recently asked about a 40,000 baht one and they informed me that it had to be a minimum of 200,000 baht.

They do have one that has no time limit on it and pays a ridiculously small percent on it. I use it to save money to pay life insurance once a year to them.

I think the rate now is down a bit on one year. Also other banks might have different minimums.

[northernjohn]

Talking about the present day June 2 2014 what is the best rate and where. BKK bank is around 2% and as a previous poster stated you can depend on them for your immigration letter which is important.

I have wondered if you could use money deposited for a fixed amount of time at immigration. Logically it would seem to be OK but then again Logic is not always the same here as in the west.

[CNXBKKMAN]

Talking about the present day June 2 2014 what is the best rate and where. BKK bank is around 2% and as a previous poster stated you can depend on them for your immigration letter which is important.

I have wondered if you could use money deposited for a fixed amount of time at immigration. Logically it would seem to be OK but then again Logic is not always the same here as in the west.

You may have a problem if your 400/800k is in a fixed deposit account. I have read many posts where immigration has knocked people back. I think it depends on the immigration officer. Many fixed accounts do let you withdraw anytime also but with a penalty of some sort.

Does anyone know what instant access saving account gives the best rate at the moment? Sometimes it can be only a little less than a fixed account.

[Thighlander]

BKK Bank pays .5% on regular savings. I believe the penalty is just forfeiture of the interest if you redeem a TD. So that makes the shorter term more desirable. Technically TD is completely liquid, but as someone above stated it might not work on the wrong day at immigration; but I would like to hear from others on this subject. You get a book for your TD that is almost identical to a regular savings account passbook.

[Beng]

This is the current bank fixed account rates from bot that you can make your comparisons - Deposit rates for individuals

Rates have dropped quite a bit in the last few months. for SCB deposit rates.pdf

Excellent. Cheers for that.

[Mapguy]

After several years' successful unquestioned experience using properly seasoned fixed deposit accounts for extension purposes, I really don't see any problem. I have never heard of anyone having problems with properly seasoned fixed deposit accounts; that is, on deposit at least three months prior to extension.

Edited June 4, 2014 by Mapguy

[Beng]

Presented one of my fixed deposit acc. together with letter from Kasikorn yesterday and had no problems at all.

[Thighlander]

This is the current bank fixed account rates from bot that you can make your comparisons - Deposit rates for individuals

Rates have dropped quite a bit in the last few months. for SCB deposit rates.pdf

Excellent. Cheers for that.

I see they're doing a 108 day 2% at SCB, but it is called "Special Fixed." Any clues on differences with "fixed" and "special fixed"?