Best Interest Rate on Accessible Deposits - Krungsri?

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I read a post stating someone had found that Krungsri will pay interest of 2.2% per month on any deposit (a Thai named deposit I don't remember, Tee Dae ... ?), so long as it's only drawn upon twice in any given month. Anyone have have any info on this? Sounds a good deal compared to the other banks' 'cannot withdraw for a year at a lousy rate anyway'. Thanks.

[Pib]

It's called a Krungsri Mee Tae Dai Savings account. Interest rate is determined by the amount you have on deposit...right now there are three different rates possible, but the highest rate is a balance in the Bt100K to Bt10M range...below and above that range the interest rate drops significantly but is still better than a regular savings account. Right now that Bt100K to Bt10M range is either paying either 2% or 2.25%...don't know which for sure as their website for the account shows 2% but their official interest rate sheet for all types of accounts as of 13 Feb 15 shows 2.25%....maybe the recent BOT interest rate cut also drove a reduction in bank interest and the webpage on the account has been updated but not the interest rate sheet yet.

Anyway, you can withdraw money as many times as you want per month without interest rate penalty, it's just the first two withdrawals are fee-free, but the 3d and up withdrawal per month will incur a Bt50 fee. You can get a debit card with the account also....they have about a half dozen debit cards ranging in annual fees from zero to much higher....the much higher fee cards include accident/health insurance which you can probably only claim on if you have an accident or die in just the right way at the right time....I feel these type of debit cards with insurance are not worth the money by a long shot but banks like to push them. No tax withheld on interest earned until exceeding Bt200K interest earned per year. The interest is paid monthly.

See the Mee Tae Dai link I gave above for more details...be sure to click the Interest rate sublink at the webpage to see more details like the interest rate, fees, etc. I've had one for about 6 months now and very pleased with it....I got the no annual fee debit card, but you do have to take SMS service to get this card...the SMS service immediately notifies you of any owner deposits/withdrawals...the SMS service costs Bt19/mo and is debited directly to your account. I also got ibanking when opening the account.

[KittenKong]

The CIMB equivalent account currently pays 0.1%-0.2% more (varies from month to month), with no withdrawal limits.

[Sophon]

It's called a Krungsri Mee Tae Dai Savings account. Interest rate is determined by the amount you have on deposit...right now there are three different rates possible, but the highest rate is a balance in the Bt100K to Bt10M range...below and above that range the interest rate drops significantly but is still better than a regular savings account. Right now that Bt100K to Bt10M range is either paying either 2% or 2.25%...don't know which for sure as their website for the account shows 2% but their official interest rate sheet for all types of accounts as of 13 Feb 15 shows 2.25%....maybe the recent BOT interest rate cut also drove a reduction in bank interest and the webpage on the account has been updated but not the interest rate sheet yet.

Anyway, you can withdraw money as many times as you want per month without interest rate penalty, it's just the first two withdrawals are fee-free, but the 3d and up withdrawal per month will incur a Bt50 fee. You can get a debit card with the account also....they have about a half dozen debit cards ranging in annual fees from zero to much higher....the much higher fee cards include accident/health insurance which you can probably only claim on if you have an accident or die in just the right way at the right time....I feel these type of debit cards with insurance are not worth the money by a long shot but banks like to push them. No tax withheld on interest earned until exceeding Bt200K interest earned per year. The interest is paid monthly.

See the Mee Tae Dai link I gave above for more details...be sure to click the Interest rate sublink at the webpage to see more details like the interest rate, fees, etc. I've had one for about 6 months now and very pleased with it....I got the no annual fee debit card, but you do have to take SMS service to get this card...the SMS service immediately notifies you of any owner deposits/withdrawals...the SMS service costs Bt19/mo and is debited directly to your account. I also got ibanking when opening the account.

I think you maybe put in a zero too many, or did you really mean 200k Baht?

Sophon

[Pib]

Yea...thanks for spotting that...typo for sure...Bt20K is correct.

[jpeg]

It's called a Krungsri Mee Tae Dai Savings account. Interest rate is determined by the amount you have on deposit...right now there are three different rates possible, but the highest rate is a balance in the Bt100K to Bt10M range...below and above that range the interest rate drops significantly but is still better than a regular savings account. Right now that Bt100K to Bt10M range is either paying either 2% or 2.25%...don't know which for sure as their website for the account shows 2% but their official interest rate sheet for all types of accounts as of 13 Feb 15 shows 2.25%....maybe the recent BOT interest rate cut also drove a reduction in bank interest and the webpage on the account has been updated but not the interest rate sheet yet.

Anyway, you can withdraw money as many times as you want per month without interest rate penalty, it's just the first two withdrawals are fee-free, but the 3d and up withdrawal per month will incur a Bt50 fee. You can get a debit card with the account also....they have about a half dozen debit cards ranging in annual fees from zero to much higher....the much higher fee cards include accident/health insurance which you can probably only claim on if you have an accident or die in just the right way at the right time....I feel these type of debit cards with insurance are not worth the money by a long shot but banks like to push them. No tax withheld on interest earned until exceeding Bt200K interest earned per year. The interest is paid monthly.

See the Mee Tae Dai link I gave above for more details...be sure to click the Interest rate sublink at the webpage to see more details like the interest rate, fees, etc. I've had one for about 6 months now and very pleased with it....I got the no annual fee debit card, but you do have to take SMS service to get this card...the SMS service immediately notifies you of any owner deposits/withdrawals...the SMS service costs Bt19/mo and is debited directly to your account. I also got ibanking when opening the account.

Thanks for this very comprehensive info. I opened an account with Krungsri last year, but have rarely used it. Will move some cash from BKK and SCB, both of whom are kee niaow I'd also thought about a Kasikorn a/c for online shopping. During last year's British passport fiasco, the UK had told me people were able to pay for their new passports with their 'K Bank shopping card', whereas they didn't accept any other Thai banks, including Bangkok Bank's Be1st. I only use debit cards here for obvious reasons. My Krungsri is just a bog standard ATM card from what I can see, despite it having 'privileged member' written on it.

Thanks again.