Time to renew the fixed deposit account.  Sometimes I am sure they don't tell you everything and they have very strange banking practices here than in the west.

1-What is the best rate I can get at SCB pattaya.  Should be the same at any location, yes?  Long term is fine.
2-Best rate at other banks?
3-Also is it true that with an unused account in Thailand over a year, you lose all the money in the account?

 

This might be a good place to start but I can hear these words coming already: No Habe Here!

http://www.scb.co.th/en/personal-banking/deposit/thai-baht-deposits/fixed-deposit-accounts

A quick look and i see NO rates or lengths of deposits at all.

After phoning the call center three times trying to manage their menus this is the best I heard: 12 month fixed 1.3% at SCB. 12 months is the longest they offer now?

As a side note, I seem to be getting less and less returns each year (lower rates?) and why they can not compound the interest or rollover the deposit is also beyond me.  Compounding increases your capital over time which could be considerable.  I guess one has to do it manually, remove the money from the savings account where they put the interest, and put it back into a new fixed account. Rolling over would also add to the savings, no time lag.

 

Also please do not forget to get your tax withholding refund in jomtien each year as they tell me you can not waive the tax withholding from these accounts.  True?

There is a 93 page pinned topic in the Banking forum that will give you all the latest rates from all the banks HERE

As all the rates are the same across the country this is a better place to discuss this

 

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