Are Older Men in Thailand Trading Love for Financial Ruin

[MO2MEN]

hello

i want ask about the highest deposit interest rate in Thailand

if i put 1.5 million baht i want know interest rate per month ?

do interest rate is enough to can life in Thailand because i afraid of setting up company , i think this is risk now because i don't know thai language

i am looking forward to your support

thanks

[chiang mai]

This thread has all the latest information regarding interest rates, there's some good info:

http://www.thaivisa.com/forum/topic/560837-bank-savings-interest-rates/page-81

Currently you can get about 2.1% for a short term fixed rate, tax will be deducted at the rate of 15% but you can reclaim that easily.

EDIT to add: fixed rate/term deposits can be cashed in at any time, you'll lose interest but you have access to your money when you want it. Perhaps consider taking out three 500k deposits so that you can cash one in if you need the money whilst leaving the other two to earn income.

Edited February 6, 2016 by chiang mai

[ezzra]

This thread has all the latest information regarding interest rates, there's some good info:

http://www.thaivisa.com/forum/topic/560837-bank-savings-interest-rates/page-81

Currently you can get about 2.1% for a short term fixed rate, tax will be deducted at the rate of 15% but you can reclaim that easily.

EDIT to add: fixed rate/term deposits can be cashed in at any time, you'll lose interest but you have access to your money when you want it. Perhaps consider taking out three 500k deposits so that you can cash one in if you need the money whilst leaving the other two to earn income.

Tax will be deducted once the interests on the term deposit reached b. 20,000,

however, the tax payment can be avoided if you close the account once it

got to the b.20,000 and immediately open a new one, this is on the advice

of my bank manger.....

[chiang mai]

This thread has all the latest information regarding interest rates, there's some good info:

http://www.thaivisa.com/forum/topic/560837-bank-savings-interest-rates/page-81

Currently you can get about 2.1% for a short term fixed rate, tax will be deducted at the rate of 15% but you can reclaim that easily.

EDIT to add: fixed rate/term deposits can be cashed in at any time, you'll lose interest but you have access to your money when you want it. Perhaps consider taking out three 500k deposits so that you can cash one in if you need the money whilst leaving the other two to earn income.

Tax will be deducted once the interests on the term deposit reached b. 20,000,

however, the tax payment can be avoided if you close the account once it

got to the b.20,000 and immediately open a new one, this is on the advice

of my bank manger.....

That's true of regular savings accounts but tax is deducted from fixed rate deposit interest from day one, it is that tax that can be reclaimed.

[Naam]

do interest rate is enough to can life in Thailand...

no, not enough!

[worgeordie]

You are never going to earn enough interest to live on,

with the returns on 1.5 Million THB,those times are long

gone,when I first came to Thailand I was getting 17%

interest on short term fixed deposits,things were good,

better than working,then when the bubble burst,and rates

started dropping fast,I moved from cash into property,and

bought some properties that I purchased at a good price

and rented out,so earning income and capital appreciation

on the value.

Once cash was king,but it seems better to have debt now,

the only thing I think you could do with your cash is to buy

a condo,and rent it out,not a 100% way to earn enough to

live on,but you would only have one customer to worry about,

while if you had a business,you would have many and the big

problem of staff.

regards Worgeordie

[MO2MEN]

if i put 1.5 million baht i want know the highest interest rate per month ?

You are never going to earn enough interest to live on,

with the returns on 1.5 Million THB,those times are long

gone,when I first came to Thailand I was getting 17%

interest on short term fixed deposits,things were good,

better than working,then when the bubble burst,and rates

started dropping fast,I moved from cash into property,and

bought some properties that I purchased at a good price

and rented out,so earning income and capital appreciation

on the value.

Once cash was king,but it seems better to have debt now,

the only thing I think you could do with your cash is to buy

a condo,and rent it out,not a 100% way to earn enough to

live on,but you would only have one customer to worry about,

while if you had a business,you would have many and the big

problem of staff.

regards Worgeordie

[chiang mai]

!,5 million at 2,1% less 15% tax is:

1,500,000 baht x 2.1%, (-15% tax) = 1.785% or 26,775 baht per year or 2,231 baht per month

The tax can be reclaimed the following year.

[JOC]

!,5 million at 2,1% less 15% tax is:

1,500,000 baht x 2.1%, (-15% tax) = 1.785% or 26,775 baht per year or 2,231 baht per month

The tax can be reclaimed the following year.

OR:

Buy JASIF http://www.bloomberg.../quote/JASIF:TB

After XD Feb 11, the unit price will probably be 8.80 baht/unit.

1.500.000 baht will buy you 170.455 units. Returning 0.22 baht quarterly tax free =37.500 baht/ each 3 months or 12.500 per month !!

IMO an easy choice...................

[chiang mai]

!,5 million at 2,1% less 15% tax is:

1,500,000 baht x 2.1%, (-15% tax) = 1.785% or 26,775 baht per year or 2,231 baht per month

The tax can be reclaimed the following year.

OR:

Buy JASIF http://www.bloomberg.../quote/JASIF:TB

After XD Feb 11, the unit price will probably be 8.80 baht/unit.

1.500.000 baht will buy you 170.455 units. Returning 0.22 baht quarterly tax free =37.500 baht/ each 3 months or 12.500 per month !!

IMO an easy choice...................

The man want a low risk investment to preserve funds, not a spin of the roulette wheel!

[MO2MEN]

yes , i am affraid of thai staff , thai police ,thai market

i don't know speak thai

!,5 million at 2,1% less 15% tax is:

1,500,000 baht x 2.1%, (-15% tax) = 1.785% or 26,775 baht per year or 2,231 baht per month

The tax can be reclaimed the following year.

OR:

Buy JASIF http://www.bloomberg.../quote/JASIF:TB

After XD Feb 11, the unit price will probably be 8.80 baht/unit.

1.500.000 baht will buy you 170.455 units. Returning 0.22 baht quarterly tax free =37.500 baht/ each 3 months or 12.500 per month !!

IMO an easy choice...................

The man want a low risk investment to preserve funds, not a spin of the roulette wheel!

[thrilled]

Maybe try depositing 3-4 million baht.You might be able to make it on that.

[MO2MEN]

thanks

!,5 million at 2,1% less 15% tax is:

1,500,000 baht x 2.1%, (-15% tax) = 1.785% or 26,775 baht per year or 2,231 baht per month

The tax can be reclaimed the following year.

OR:

Buy JASIF http://www.bloomberg.../quote/JASIF:TB

After XD Feb 11, the unit price will probably be 8.80 baht/unit.

1.500.000 baht will buy you 170.455 units. Returning 0.22 baht quarterly tax free =37.500 baht/ each 3 months or 12.500 per month !!

IMO an easy choice...................

[MO2MEN]

Thanks.....if anyone else knows anything.......please advise

[Suradit69]

do interest rate is enough to can life in Thailand...

no, not enough!

Assuming you wanted Baht 65,000 a month (as an example), that would be Baht 780,000 per year, which would require something in the neighborhood of 50% interest per year if you wanted to preserve your original deposit of 1.5 million.

Even Bernie Madoff never came up with that sort of mythical return.

Edited February 8, 2016 by Suradit69

[MO2MEN]

do interest rate is enough to can life in Thailand...

no, not enough!

Assuming you wanted Baht 65,000 a month (as an example), that would be Baht 780,000 per year, which would require something in the neighborhood of 50% interest per year if you wanted to preserve your original deposit of 1.5 million.

Even Bernie Madoff never came up with that sort of mythical return.

[meatboy]

Thanks.....if anyone else knows anything.......please advise

i do know one thing,you need a hell of a lot more than 1.5million bht.if you want to live on the interest.even if you had 10million that at best would only come to 3,500bht.a week.ok if you like rice.

[JMWPACIFIC]

I think the best rate you can get right now is the 3% p.a. Ministry of Finance Bonds issued through Bangkok Bank. Interest is paid semi-annually into a BBL Savings Account and the max deposit is 2,000,000. These bonds were first issued in October 2015 for 3 years so maturity is October 2018. They are available until the end of February 2016.

On the max deposit, semi-annual interest is 30,000 Baht less 15% tax.

[chiang mai]

I think the best rate you can get right now is the 3% p.a. Ministry of Finance Bonds issued through Bangkok Bank. Interest is paid semi-annually into a BBL Savings Account and the max deposit is 2,000,000. These bonds were first issued in October 2015 for 3 years so maturity is October 2018. They are available until the end of February 2016.

On the max deposit, semi-annual interest is 30,000 Baht less 15% tax.

That's not a fixed rate or a savings account, it's a corporate bond that needs to be sold on the secondary market and its value is subject to price fluctuations.

[MO2MEN]

Thanks.....if anyone else knows anything.......please advise

[MO2MEN]

Thanks.....if anyone else knows anything.......please advise

[sendintheclowns]

JASIF is an income fund. Foreigners are prohibited from buying these units.

[JOC]

JASIF is an income fund. Foreigners are prohibited from buying these units.

Nonsense!!

You buy the normal units on SET, and as a foreigner to get the dividend, you need to convert them into JASIF-F.

Done buy signing " Request to change to status of securities".

JASIF-F is listed, but with very limited trade, so when selling you need to convert back to local shares.

[JOC]

On 2/7/2016 at 3:45 PM, JOC said:

OR:

Buy JASIF http://www.bloomberg.../quote/JASIF:TB

After XD Feb 11, the unit price will probably be 8.80 baht/unit.

1.500.000 baht will buy you 170.455 units. Returning 0.22 baht quarterly tax free =37.500 baht/ each 3 months or 12.500 per month !!

IMO an easy choice...................

 

On 2/7/2016 at 4:02 PM, chiang mai said:

The man want a low risk investment to preserve funds, not a spin of the roulette wheel!

A little follow up 15 months later.....

Today JASIF is trading at 11.40.....170.455 units x 11.40=1.943.187........Gain from the original 1.5M = 443.187 baht

I the meantime (15 months) total dividend payments (taxfree) has been 1.21 baht     170.455 x 1.21  =206.250 baht

 

"Spin of the roulette wheel" ??

 

Will follow it up again in another years time...

[lkn]

For comparison, here’s how the Thai stock market has performed during the last 4-5 years:

 

[speedtripler]

On 2016-2-8 at 0:04 PM, Suradit69 said:

Assuming you wanted Baht 65,000 a month (as an example), that would be Baht 780,000 per year, which would require something in the neighborhood of 50% interest per year if you wanted to preserve your original deposit of 1.5 million.

Even Bernie Madoff never came up with that sort of mythical return.

Charles ponzi might be able to do those returns... But we'd need to dig him up and ask him

 

Look into cryptocurrencys like Bitcoin and ethereum, they are catching on worldwide and you would  still be an early adopter

[lkn]

52 minutes ago, speedtripler said:

Look into cryptocurrencys like Bitcoin and ethereum, they are catching on worldwide and you would  still be an early adopter

I think you are a few years too late.

[YorkshireTyke]

On 5/26/2017 at 4:11 PM, lkn said:

I think you are a few years too late.

Hindsight is a wonderful thing !

[speedtripler]

On 26/05/2017 at 4:11 PM, lkn said:

I think you are a few years too late.

Say what now?