High Interest Rate Thai Bank Account

[JimmyGreaves]

Would like to put say 800k into a thai bank account so I got some money here for visa purposes.

Can get 5% in UK are any banks offering near or the same rate with instant withdrawal?

If not anyone know a good deal?

Cheers

[Casanundra]

Would like to put say 800k into a thai bank account so I got some money here for visa purposes.

Can get 5% in UK are any banks offering near or the same rate with instant withdrawal?

If not anyone know a good deal?

Cheers

They can change weekly here but the last time I checked (which was 3 weeks ago) they were as follows:

Tanachat bank: 4.75% fixed for 8 months

Siam: 4.5% fixed for 6 months

Kassikorn: 4.5% fixed for 9 months

But I have no idea what they are today. Some willl still be availbe for a lessor period while others may have stopped being offered and maybe there are some new ones. The best thing to do is get out and about and check for yourself and open an account.

Edited December 8, 2006 by Casanundra

[Filer]

I am interested in this too. These rates seem reasonable for a fixed term of these lengths.

However, does this type of fixed-term-deposit account qualify to be considered for the 800k bank account requirement for retirement visa? Or does your qualifying bank account have to be a current account (one where you can spend the money)? I believe I read somewhere that there was an issue on this point.

[Filer]

I've just seen a specific thread on my own question in another forum: Thai visas... 800,000 Baht (1-year) Term Deposit To Meet Requirement, Are these really prohibited for retirement visa? It seems the answer is that it all depends on the interpretation of the immigration officers in question - there's no clear answer in the written law.

[karl]

Would like to put say 800k into a thai bank account so I got some money here for visa purposes.

Can get 5% in UK are any banks offering near or the same rate with instant withdrawal?

If not anyone know a good deal?

Cheers

They can change weekly here but the last time I checked (which was 3 weeks ago) they were as follows:

Tanachat bank: 4.75% fixed for 8 months

Siam: 4.5% fixed for 6 months

Kassikorn: 4.5% fixed for 9 months

But I have no idea what they are today. Some willl still be availbe for a lessor period while others may have stopped being offered and maybe there are some new ones. The best thing to do is get out and about and check for yourself and open an account.

Remember to check whether they levy a tax on the deposit.

In general, Government Bonds are not taxed.

[monty]

You also have to count in the 15% witholding tax they cut out of your interest.

So 4.75% only netts you 4.0375%...

[naka]

I am interested in this too. These rates seem reasonable for a fixed term of these lengths.

However, does this type of fixed-term-deposit account qualify to be considered for the 800k bank account requirement for retirement visa? Or does your qualifying bank account have to be a current account (one where you can spend the money)? I believe I read somewhere that there was an issue on this point.

It would seem you still need 800k+ in a savings type account to qualify for the retirement visa.

Naka.

[naka]

I am interested in this too. These rates seem reasonable for a fixed term of these lengths.

However, does this type of fixed-term-deposit account qualify to be considered for the 800k bank account requirement for retirement visa? Or does your qualifying bank account have to be a current account (one where you can spend the money)? I believe I read somewhere that there was an issue on this point.

It would seem you still need 800k+ in a savings type account to qualify for the retirement visa.

Naka.